Health startup Evvy took out a loan as it expands its vaginal health offerings, moving from selling microbiome tests to offering prescriptions for common genital infections.
The Flatiron-based company raised $10 million in debt financing from undisclosed backers last week, according to a filing with the U.S. Securities and Exchange Commission. The financing brings the startup’s total fundraising to nearly $30 million since it launched in 2021, data from the markets company PitchBook shows.
Evvy has 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, CEO Priyanka Jain previously told Crain’s.
