Health startup Evvy is opening the door to raise more capital as it expands its vaginal health offerings, moving from selling microbiome tests to offering prescriptions for common genital infections.
The Flatiron-based company secured a convertible note offering up to $10 million in debt financing from undisclosed backers last week, according to a filing with the U.S. Securities and Exchange Commission. The company has received inbound interest from investors and opened up the note to allow it to explore whether it will raise additional capital in the coming months, said CEO Priyanka Jain.
Evvy has not raised additional capital at this time, Jain said, noting that the firm has two years of runway and does not plan to raise money until 2026. The company has raised a total of $19 million since it launched in 2021.
The potential for future fundraising comes after Evvy benefited from a wave of venture capital funding to startups focused on women’s health. Women’s health companies in New York accounted for half of all funding to the industry in 2023, according to an analysis from Deloitte, largely because of the city’s diverse workforce and network of academic medical centers spinning out innovations that serve women’s health needs.
The company got its start selling a vaginal microbiome test to help women understand how their genetic makeup could contribute to conditions like UTIs, common bacterial infections and infertility. The test, which costs $129 or $99 with a subscription, contains a single swab that can detect up to 700 bacteria and fungi in the vagina. Evvy also offers testing for sexually transmitted infections.
Late last year, Evvy started selling a suite of prescription vaginal treatments that patients can request from one of its clinicians without first receiving a microbiome test.
Evvy launched as telehealth and at-home testing became popular at the height of the pandemic, raising a $5 million seed round from SoHo-based venture capital firm General Catalyst. The company raised a $14 million Series A in September 2023, helping it scale up research and development and grow its customer base, Jain previously told Crain’s.
March 19, 2025: A previous version of this story inaccurately stated that Evvy raised additional financing. The story has been corrected to reflect that the company filed a pre-sale notice and has raised $19 million to date.
