Layla (previously PreOv) closes Pre-Seed Round of Funding
[Salt Lake City, UT, July 1, 2019] Salt Lake City-based femtech startup, PreOv, has announced successful closing of their seed round of funding. PreOv is developing a first-of-its-kind device that measures cervical mucus and temperature, designed to help women and couples better understand and monitor reproductive health and fertility. At closing, seed investor Mountain Pacific Venture Fund’s Managing Partner, June Chen, MD, made an already special event more memorable by giving each of PreOv’s managing co-founders, all female, a Tory Burch #EmbraceAmbition bracelet to commemorate the occasion.
“We all have a deeply personal connection to the difficulties that can arise when trying to conceive, and are acutely aware of the frustration and heartache that comes with not being able to get pregnant,” says co-founder Young Hong, University of Utah Pharmacy student.
PreOv has been making waves since its inception, having won first place and $50,000 at the prestigious University of Utah Bench-2-Bedside competition in April 2018. PreOv went on to win Opportunity Quest through the University of Utah Lassonde Entrepreneur Institute and another $20,000 at the 2019 University of Utah Bench-2-Bedside competition as a legacy team. Their work has created considerable buzz in the Silicon Slopes tech-health industry with the company being recognized at the recent Sego Awards Gala for female founders and CEOs.
“Part of the goal of PreOv is to empower women and help them take charge of their fertility”, says co-founder Joni Aoki. “PreOv gives women and couples the opportunity to regain ownership of their family planning and help guide them on their quest to conceive.”
Co-founder Jeanna Ryan, University of Utah Health Physician Assistant added, “We are a company founded by women for women. This seed funding will enable us to hit key milestones, including completion of a working prototype and initiation of the regulatory process. We appreciate the trust and support from our investors, which motivates us to make a difference in women’s reproductive health. Current fertility monitoring options fall short. We simply must do better and when it comes to creating a product for women, we are driven to get this right.”