CEO: David Schlanger
Launched: 2015
Funding: $102.3 million
Valuation: $142.2 million (PitchBook)
Disrupting: Health care, fertility treatments
Rival: WINFertility
This New York City-based firm is trying to make it easier for couples that are facing fertility issues. Progyny is a fertility benefits start-up that offers plans to large, self-insured companies. It helps these employers include fertility treatments such as in-vitro fertilization and egg freezing in their overall health benefits packages. Patients can receive treatment at fertility clinics around the country through Progyny's doctor network.
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Several high-profile tech companies started offering these benefits to employees, and the thinking is that many more companies will soon follow suit.
The company took its current form in 2016 as the result of a merger between two fertility companies - Auxogyn and Fertility Authority - under the guidance of the venture capital firm Kleiner Perkins Caufield and Byers, and focused exclusively on fertility benefits plans.
In December the former CEO of WebMD — David Schlanger — came on board to run the company and expand its customer base. (The company declines to name any.) So far, Progyny has raised more than $85 million in funding from venture heavyweights Kleiner Perkins Caufield & Byers as well as Merck Ventures. It's certainly moving into a growing market: Couples worldwide are projected to spend $21 billion on IVF treatments alone by 2020.
Update: This profile has been updated to clarify the history of Progyny's founding.
