Flora Fertility announced the close of a $5 million seed funding round to accelerate the rollout of its first-of-its-kind fertility insurance platform across the United States, with plans to expand into Canada.

The round was led by ManchesterStory, with participation from Slauson & Co., TruStage Ventures, BDC Capital, Marathon Fund, Adara Venture Capital, and strategic angel investors. Existing investors include Highline Beta, Everywhere Ventures, and Cartography Capital.

Flora is introducing a new category in InsurTech: individually owned, portable fertility insurance designed to address a major gap in healthcare coverage. The company aims to shift fertility from a reactive expense to a proactive, data-driven financial planning tool, leveraging AI, personalized underwriting, and risk modeling.

The platform allows individuals to purchase coverage independent of their employer, ensuring continuity across career changes and life stages. Flora’s policies cover a full range of fertility treatments, including diagnostics, medications, intrauterine insemination (IUI), and in vitro fertilization (IVF), with entry-level pricing starting at approximately $20 per month.

The company estimates that infertility affects one in six people globally, while treatment costs can range from $30,000 to $50,000, leaving the vast majority of patients without access to care. Flora’s platform currently reaches more than 10 million prospective policyholders across North America.

The funding will be used to expand Flora’s underwriting capabilities, scale distribution, and further develop its platform as it seeks to establish a new market within women’s health and insurance.

KEY QUOTES:

“Flora is building something that has never existed before — affordable, portable fertility insurance that meets the next generation of women exactly where they are. The InsurTech opportunity here is enormous, and the Flora team has the expertise, technology, and vision to define this category.”

Nicole Gunderson, Partner, ManchesterStory

“Accessibility and inclusivity are at the core of what we look for in consumer companies. Flora is removing a structural barrier that has kept fertility care out of reach for millions of women — and they’re doing it in a way that’s both financially innovative and deeply human.”

Miki Reynolds, Head Of Programs, Slauson & Co.

“Fertility costs are one of the most significant and overlooked financial burdens women face. With 72% of Gen Z women experiencing fertility anxiety, Flora can give an entire generation peace of mind.”

Elizabeth McCluskey, Managing Director, TruStage Ventures

“Fertility is one of the largest uninsured financial risks people face, yet the system today only offers support once you’re already in crisis and often only if your employer provides it. We’re creating a new category where fertility becomes something you can proactively plan for, not just pay for when it’s too late.”

Laura McDonald, Co-Founder, Flora Fertility

“Fertility has always been treated as unpredictable and uninsurable, but the data tells a different story. The earlier someone can access that coverage, the better their outcomes and the lower their costs, which is what makes this model so powerful. We’re turning fertility from a reactive medical expense into a proactive, data-driven financial decision.”

Dr. Christy Lane, Co-Founder, Flora Fertility