Willow, the developer of an app-connected smart wearable breast pump, raised an additional $55 million in Series C funding, bringing the total raised to date to $155 million.
New Enterprise Associates (NEA) led the funding round with participation from Meritech Capital Partners, Lightstone Ventures, Perceptive Advisors, and others. According to the company, this additional funding will fuel existing product innovation and new product launches for further expansion within the femtech category.
The Willow Wearable Breast Pump is an all-in-one pump that fits in a bra and stays out of the way. The product has no chords, wires, or dangling bottles and is powered by an app that keeps track of pumping habits. Women can breastfeed for as long as they choose without inconveniences from standard breast pumps.
Willow recently launched its Container, a wearable pump giving women the option to pump and pour with the Container or pump and store with spill-proof Milk Bags. The company also reported a 140% increase in revenue growth year-over-year from 2018-2019, supported by a 120% growth in its mom user base year-over-year.
“While parents and families navigate these unprecedented times, Willow has helped more moms than ever balance motherhood with all of their other responsibilities,” said Laura Chambers, CEO of Willow. “Particularly because of the pandemic, moms are increasingly appreciating the freedom that comes with Willow’s life-changing technology. With this new round of capital, we are excited to invest in continued product innovation and market expansion to support our growth and ultimately help moms along the way.”
Digital Health Wearable companies have attracted close to $3 billion in venture capital since 2013, according to data from Mercom Capital Group. Elvie, a developer of a smart wearable breast pump & an app-connected pelvic floor exerciser, raised $42 million funding.
Image Credit: Willow