Elvie, a London, UK-based developer of technology for women’s health and lifestyle, raised £5m in funding.
The round was led by Octopus Ventures with participation from female focused VC AllBright and previous Lars Rasmussen, Michael Spencer, Nicole Junkermann and Alexandra Chong.
The company intends to use the funds to roll out into 25 additional countries across America, Europe and Asia-Pacific, as well as launch a second device, aimed specifically at new mothers, all before the end of 2017.
Launched in 2013 by Tania Boler and Alex Asseily, Elvie provides a pelvic floor exercise tracker and app that is currently distributed at large retailers such as Amazon, John Lewis in the UK and e-tailers Goop and Violet Grey in the US.
The company currently operates in 59 countries and, in 2016, it generated $1 million in revenue from direct sales alone. Elvie received £2.4 million ($3 million) in funding in previous seed rounds, as well as a further £1.2 million ($1.5 million) from several government grants.