Mindshift Capital invests in US femtech Rosy
- UAE-based VC Mindshift Capital has invested in US-based healthtech Rosy, as part of its $2 million Seed round.
- Founded in 2019 by Heather Henyon and Marcia Dawood, Mindshift Capital is a female-led VC, with the aim of investing in women-led early-stage technology companies in the Middle East and the US.
- Rosy, founded in 2018 by Lyndsey Harper MD, is a digital wellness platform aimed at women, providing educational resources as well as a network of healthcare professionals.
- The new round will help Rosy to hire further talents, focus on product development, increase referrals, and expand its marketing campaign.
Global women-led, gender-lens VC fund Mindshift Capital has invested in women’s health and wellness platform Rosy, as part of its $2m seed round.
Rosy is an innovative digital wellness platform focused on providing women with access to a range of services and benefits to boost and manage their wellbeing, including sexual health guidance and a host of expertly created educational resources including videos and self-help materials.
In the two years since its creation, Rosy has amassed the largest network of healthcare professionals in the field of women’s sexual health, who act as ambassadors for Rosy on social media and use the platform for their own education and knowledge building. The Rosy network currently boasts 3400 doctors and therapists and 1900 OB/ GYNs, which accounts for 6 per cent of the total number of professionals in this field in the US.
According to Rosy’s founder and CEO, Lyndsey Harper MD, the seed round was held to accomplish the following objectives:
Make key hires for the business, including a CTO, engineers and designers
Focus on product development, such as the launch of a digital cognitive behavioural therapy (CBT) programme
Increase referrals, growing the network to over 5,500 via events, presentations, sharing of data and digital marketing activities
Marketing expansion to grow the user base to 1 million via social campaigns, affiliate marketing, events and strategic partnerships.
The investment is the latest in a number for VC fund Mindshift Capital. The fund leverages the expertise and network of its all-female investors to source deals with exceptional, high-growth businesses with scalable technology in emerging and rapidly growing tech sectors, delivering consistently excellent returns.
“Women’s healthtech is increasing at an astounding rate both in terms of volume and popularity. There are currently around 200 startups in this field, and 92 per cent of these businesses are founded and led by women,” comments Heather Henyon, Founding Partner of Mindshift Capital.
“Rosy is a prime example of a market-leading innovative platform which is providing women with access to a huge array of information, insight and expertise on vital women’s health and wellness issues, and its continued growth and expanding membership base is testament to the huge opportunity in this market.
“Our investment in Rosy is yet another example of Mindshift’s ability to take part in industry-leading deals where the sector hotspots are — of which women’s healthtech is a glowing example. We do this through our unique global network and strong partnerships with sector experts,” added Marcia Dawood, Venture Partner at Mindshift Capital.
Founded in 2018, Rosy operates as a Software as a Service (SaaS) platform, with a freemium option offering users a 7-day trial or a premium option with monthly or six-monthly subscription charges. Since its inception, Rosy has achieved an average of 42 per cent quarterly sales growth and a 10 per cent conversion rate of freemium to premium memberships in 2021, compared to a market average of 1-4 per cent.
Lyndsey Harper, MD, Founder and CEO of Rosy, adds: “Our mission at Rosy is to empower women to take control of their sexual and overall health by providing an expert-created platform featuring proven interventions.
“It’s a hugely important and rapidly growing area of focus in the health and wellness sphere, and we rely on science and proven expertise to make a real difference to women’s lives. Investments from world-leading funds such as Mindshift Capital are vital to our continued success and we are very excited to have them on board.”