MOUNTAIN VIEW, Calif., Sept. 22, 2020 /PRNewswire/ -- Willow, the femtech leader that changed the way women pump with the first quiet, all-in-one, in-bra wearable breast pump, announces today that it has raised an additional $55 million in funding led by longtime investors NEA as well as Meritech Capital Partners, Lightstone Ventures, new investor Perceptive Advisors and others. To date, Willow has launched three generations of its groundbreaking technology, investing in the creation of the most innovative breast pump on the market. This additional funding will fuel existing product innovation and new product launches for further expansion within the femtech category.
The raise is part of a momentous time for Willow as the Company recently hired Laura Chambers as Chief Executive Officer in June of this year. Willow also reported a 140% increase in revenue growth year-over-year from 2018-2019 supported by a 120% growth in its mom user base year-over year. The company continues to show tremendous strength in revenue growth this year within the booming femtech space, which has a market potential of $50 billion by 2025, according to Frost & Sullivan*.
"While parents and families navigate these unprecedented times, Willow has helped more moms than ever balance motherhood with all of their other responsibilities," said Laura Chambers, CEO of Willow. "Particularly because of the pandemic, moms are increasingly appreciating the freedom that comes with Willow's life changing technology. With this new round of capital, we are excited to invest in continued product innovation and market expansion to support our growth and ultimately help moms along the way."
"Through our longstanding relationship with Willow, we've been able to see the true impact they have had in helping mom's balance motherhood in a modern world," said Josh Makower, Willow Co-founder, Chairman; NEA General Partner. "Willow is thriving and growing to meet the needs of all moms during these unique times, and we are proud to be a partner in advancing innovation in the femtech field."
