Chicago-based Family Planning and Fertility Startup Nubundle Raises $1.5 Million Series Seed Led by Lightbank
Nubundle, the nation's first holistic family planning and fertility services company, announces the closing of its first institutional round of funding led by Lightbank, with participation from NFP Ventures, the investment arm of leading insurance broker and consultant NFP, and Village Global, a venture capital firm backed by some of the world's best-known entrepreneurs such as Anne Wojcicki, Sara Blakely and Jeff Bezos.
CHICAGO, Nov. 23, 2018 /PRNewswire-PRWeb/ -- Family planning and fertility services are increasing in necessity and popularity, in part because of wider trends: the general fertility rate decreased to an all-time low in 2017, and the average age of first time mothers increased to over 30 in major metropolitan areas. This has resulted in 1 in 8 people seeking fertility help, with that number doubling for those without a child and over 30. This is a particular problem for millennials and their employers — 48% of employees delay starting a family to focus on their careers and 57% would change jobs for family planning benefits. Yet it's uncommon for employers to offer family planning support. Further, insurance coverage is trailing the market needs. In most states health insurance doesn't cover fertility treatments, and in those that do, coverage is not inclusive of LGBTQ+ couples and individuals. Additionally, the costs of fertility treatments are prohibitive, putting starting a family out of reach for many.
Nubundle doesn't think prospective parents should have to risk their financial stability to start a family, nor should it be cost prohibitive for employers to provide support. The company is on a mission to redefine employers' relationships with the family through benefits by providing access to family planning and fertility services. Nubundle's three solutions are affordable for employers and help prospective parents avoid financial risk:
1) Family Planning Concierge - Access to an experienced network of family planning coordinators and fertility experts for support at every stage of the journey, from thinking about having a child to understanding fertility treatment options.
2) Affordable Fertility Treatments - Nubundle has a network of fertility clinics that have been pre- vetted for patient care, success rates and value.
3) Just in Time Insurance - Financing and insurance options for patients and employers.
Nubundle's work is clearly resonating with employers: since starting earlier this year, Nubundle is on track to have employers with thousands of employees on the platform for their beta launch in January 2019.
"Starting a family should be one of the happiest moments of someone's life. However, the reality for a growing number of people is that it involves stress, fear, and a lack of support and information," said John Ciasulli, CEO of Nubundle. "We want to make sure everyone understands their choices and has an affordable path to maximize their chances of conceiving, freezing their eggs, or accessing services like IVF."
"There is an incredible market opportunity to provide financial security to those struggling with fertility" said Vic Pascucci, Managing Partner at Lightbank. "The seasoned entrepreneurial team at Nubundle has come up with great products that offer understanding, choice and affordability to people going through these hugely difficult challenges. I'm excited to see them open up care for the vast majority that aren't able to access it today."
Nubundle was co-founded by John Ciasulli and Chris D'Cruz. Ciasulli was previously an EIR at Lightbank and the first employee and COO at Uptake, the nation's fastest growing enterprise software company. D'Cruz was previously head of business and corporate development at Raise, a gift card marketplace and mobile prepayments company that counts Accel, NEA, Bessemer and PayPal amongst its investors, as well as a co-founder of south east Asian based Paktor, a series of mobile platforms now with over 2 million monthly active users.
About Nubundle
Nubundle helps employers redefine their relationships with the family through benefits by providing access to family planning and fertility services. Nubundle offers a platform that provides access to an experienced network of family planning and fertility experts, affordable fertility services, and just in time insurance.
About Lightbank
Lightbank is a top performing early stage venture capital firm headquartered in Chicago. The firm was founded in 2010 by serial entrepreneurs Eric Lefkofsky and Brad Keywell (Tempus, Uptake). Lightbank sources propriety investment opportunities from the 16,000 employees that worked in its network, the 250+ founders/co-founders the partners have backed and deep industry connections.
SOURCE Nubundle
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