Importance Score: 75 / 100 🔴
Startup Offers Affordable Egg Freezing Option Through Egg Donation Program
As career ambitions rise and individuals postpone marriage, fertility preservation methods like egg freezing have gained traction among women. However, the significant cost of egg freezing, typically ranging from $10,000 to $15,000 per attempt, often places it beyond the financial reach of many women during their prime reproductive years in their 20s and early 30s.
Cofertility’s Innovative Approach to Egg Freezing
Cofertility, a startup established by Lauren Makler, a former executive at Uber, and Halle Tecco, a health technology angel investor, is addressing this financial barrier. The company provides women with the opportunity for no-cost egg freezing in exchange for donating half of the eggs retrieved during the procedure to individuals or couples struggling with infertility.
Series A Funding Fuels Growth
This innovative startup, operational for three years, recently secured $7.25 million in a Series A funding round. The investment was spearheaded by Next Ventures and Offline Ventures, with participation from Initialized, Gaingels, and other investors. This latest funding injection brings Cofertility’s total capital raised to $16 million, signaling strong investor confidence in its business model and mission.
Founder’s Personal Experience Drives Cofertility’s Mission
The concept behind Cofertility originated from Makler’s personal encounter with fertility challenges and a health scare. In 2018, a diagnosis of a rare abdominal condition necessitated multiple surgeries, posing a risk to her ovaries. In such cases, medical professionals sometimes recommend egg freezing for young women desiring future সন্তানbearing; however, this was not a viable path for Makler at the time.
Exploring Egg Donation Insights
Consequently, Makler embarked on extensive research into egg donation. She discovered that while egg donors received compensation, the expenses associated with donor eggs were surprisingly high. The price could escalate further based on specific criteria, such as requesting a donor of Jewish heritage or a woman with a higher level of education.
“It felt somewhat like surge pricing for egg donors, which felt icky to me,” Makler stated, drawing a parallel to the fluctuating ride costs implemented by Uber during periods of high demand.
From Personal Challenge to Entrepreneurial Solution
Fortunately, Makler ultimately conceived naturally. This experience, however, inspired her to create a venture that connects young women interested in preserving their fertility with individuals seeking donor eggs to build their families.
The “Split” Program: Egg Sharing at Scale
Although the principle of egg sharing exists, Cofertility asserts its position as the sole entity offering it on a large scale through its “Split” program. Makler emphasizes the breadth of their donor pool.
“Currently, we have hundreds of donors accessible for prospective parents,” Makler noted, contrasting this with most clinics that typically possess a limited number of donors, potentially hindering successful matches.
Diverse Donor Pool and Cost Efficiency
Cofertility reports that its egg donors represent diverse backgrounds, with approximately 55% holding graduate degrees. Intended parents are responsible for covering the egg retrieval costs and Cofertility’s coordination fee, mirroring standard egg donation procedures. Notably, they avoid donor compensation, thereby reducing overall out-of-pocket expenses.
Addressing the Taboo of Egg Donation
While Makler refrains from labeling Cofertility as solely a marketplace, she acknowledges its marketplace-like functionality in addressing a significant systemic issue within fertility care.
“The overarching vision and objective are to dismantle the stigma associated with egg donation,” she concluded. “There should be no shame in any path to parenthood. Facilitating this journey with the support of a donor who is also keen on freezing her own eggs presents a truly compelling option.”