Willow, the Mountain View, California-based femtech company that makes silent, all-in-one wearable breast pump system, raised an additional $20 million in funding. The investment was led by longtime investors NEA and Meritech Capital Partners as well as Lightstone Ventures and others. The company's total capital raised to date is now $100 million.
Willow said it will use the additional fund to fuel advanced product development for next generation products and further its expansion into retail, insurance and international channels in order to reach more moms, according to a press release.
“The continued support from our existing investors reinforces Willow's status as the leading wearable breast pump on the market. Not only did our breakthrough technology establish a new category of breast pumps, but we are constantly innovating to push the boundaries of what a breast pump can do,” said Vickie Mrva, President and CMO of Willow. “We'll utilize this investment to further demonstrate our prowess in developing smart software and groundbreaking hardware with a keen eye for the specific needs of women, and making never-before seen advancements in femtech.”
Willow’s breast pump is a small, oval-shaped device that fits into a bra untethered. It has the capacity to hold up to 4 ounces of milk per pumping session. Moms have the options to either pump and pour with the reusable container or pump and store with the spill-proof milk bags. The freedom and convenience, however, doesn't come cheap, costing $500 for the revolutionary technology.
“Willow has continued to shine as a beacon leading modern femtech, and we're proud to have the company in our portfolio of brands changing the game for women everywhere,” said Dr. Josh Makower, General Partner at NEA. “It's so important for companies like Willow to continue innovating in fields that have been previously overlooked, and we congratulate the team on this new marker of success and support.”