- More women are launching startups and investing in businesses — many of them digital — that are focused on female health, according to a Bloomberg report.
- That makes sense since women are the biggest users of healthcare, and make 80% of healthcare choices for their families, a fact sheet from the Department of Labor shows.
- However, the share of venture capital deals that involve companies with female founders is only at 18%, according to recent data from Pitchbook,
Jokingly referred to as bikini medicine, female health ventures are getting more attention from both men and women. For example, venture capital fund Rock Health, which is majority female-run, notes that $29 million a year earlier. All are focused on women’s health.
That’s still a fraction of the $4.5 billion raised for all digital health concerns.
But with their high rate of healthcare utilization, particularly reproductive, care, women see an opportunity to make a difference and grab a larger piece of the pie. “Obviously, women have unique health experiences that men don’t,” Rock Health co-founder and Columbia Business School adjunct professor Halle Tecco told Bloomberg.
Currently, less than 10% of investing partners at the top 100 venture capital firms are women, according to CrunchBase.
Examples of female-led startups include Clue, which tracks a woman’s menstrual and fertility cycles, Celmatix, which helps women improve their odds of conceiving using data analysis and genomics.
Sprout Pharmaceuticals founder Cindy Whitehead, who raised $100 million to get a female libido pill off the ground, then sold the company to Valeant Pharmaceuticals for $1 billion, has launched The Pink Ceiling to advise female-focused companies.