On September 15, 2026, women's health company Evvy announced a $40 million oversubscribed Series B led by Catalio Capital Management, bringing its total raised to roughly $60 million across three rounds. The round included U.S. Fertility through its U.S. Fertility Innovation Fund and the Labcorp Venture Fund, with existing backers General Catalyst, Left Lane Capital, BBG Ventures, Amboy Street Ventures, Ingeborg and Foreground Capital participating. The money funds an expansion from vaginal health testing into reproductive medicine — starting with fertility and IVF — and buildout of EvvyAI, the data and AI layer underneath the business.

Why It Matters

The vaginal microbiome has been the most crowded corner of femtech for two years — Juno Bio raised $3.8M in July to bring testing in-house at its own CLIA lab, Daye has been arguing for folding microbiome data into cervical cancer screening, and Vogue Business documented the whole category's investment boom earlier this month, complete with warnings that it risks becoming an insecurity-driven beauty market rather than clinical care. Evvy's Series B is the clearest answer yet to that critique: the capital came from clinical strategics with distribution into fertility clinics and lab networks, and the stated use of funds is biomarker validation, not customer acquisition. That matters for how the category gets valued. A direct-to-consumer diagnostic sold on curiosity has consumer-subscription economics and churn to match. A diagnostic that becomes a standard pre-transfer step in IVF — a procedure where patients and payers already tolerate high costs and where "unexplained" failure is the central frustration — has a reimbursement path and a clinical moat. For the broader sexual and reproductive health sector, it is also a reminder of where the money is flowing: not into devices, but into data assets built from intimate biology, with the attendant privacy stakes that implies. Evvy's 96% research opt-in rate is the company's biggest competitive asset and, in a post-Dobbs regulatory climate, the thing most worth watching.

Evvy's core product is an at-home Vaginal Health Test using metagenomic sequencing to analyze more than 700 bacteria and fungi from a single swab, returning clinician-reviewed results, personalized insights and access to prescription treatment where appropriate. The company says it has served more than 100,000 patients and partnered with 3,000 healthcare practitioners, and that 96% of patients opt to contribute their data anonymously to research — the mechanism behind what Evvy describes as the world's largest vaginal microbiome dataset. Its fertility work builds on 13 peer-reviewed publications and 2025 studies involving over 1,000 real-world patients.

CEO and co-founder Priyanka Jain framed the fertility pivot around a specific clinical gap. "Thirty per cent of infertility is categorised as unexplained," she said. "When you think about the immense emotional and financial effort required to produce a healthy embryo, transferring that embryo into an unexamined, inflamed environment is heartbreaking. By measuring and modulating the microbiome proactively, we can tangibly improve clinical outcomes." Jain told Femtech Insider the roadmap extends beyond fertility to infections, inflammation, endometriosis, perimenopause and HPV progression, and that the dataset has already surfaced bacterial vaginosis subtypes and previously unknown microbial genomes.

The investor composition tells its own story. Catalio is a healthcare-focused fund, not a consumer one; U.S. Fertility is the largest physician-led fertility practice network in the United States; Labcorp is one of the country's two dominant clinical labs. "Its combination of proprietary data, clinical evidence and a growing biomarker discovery engine creates an entirely new foundation for precision women's healthcare," said Catalio co-founder and managing partner Jacob Vogelstein. "We believe Evvy is building the data platform that will define this category for decades to come." Evvy was founded by Jain, Laine Bruzek and Pita Navarro, and has already extended into UTI testing, probiotics and suppositories.

Sources

Update — 2026-09-16

Initial entry — story first created.

Update — 2026-09-29

A second microbiome-testing round in two weeks. On September 29, 2026, Beauty Independent reported that Tiny Health, which sells at-home gut and vaginal microbiome tests, raised a $33 million oversubscribed Series B led by B Capital. Participants included Spero Ventures, The Venture City, Overwater Ventures, Black Opal Ventures, Denver Ventures, Pave Health Ventures, Alumni Ventures, Gaingels and Pari Passu Ventures, bringing total funding to $46 million. B Capital senior principal Nick Whitehead joins the board. Per Beauty Independent, Tiny Health has passed eight figures in annual revenue, says it is at least doubling each year, and has served nearly 200,000 customers, with individual tests at $249 and two-test annual memberships at $399. Founder and CEO Cheryl Sew Hoy says adult testing now exceeds pediatric volume and that B2B revenue through its "Powered by Tiny" clinician channel grew fourfold over the past year. The company is putting $5 million into a microbiome research grant program alongside the raise.

Tiny Health competes directly with Evvy on vaginal testing. Its Vaginal Health Test uses shotgun metagenomic sequencing to report community state type, Lactobacillus dominance, and microbes linked to BV, yeast, UTIs, aerobic vaginitis and STIs, along with fertility and menopause associations. It has also published a head-to-head comparison page against Evvy. Beauty Independent's coverage explicitly places the round next to Evvy's $40M Series B.

What changed: Evvy's raise now looks like the start of a category trend, not a one-off. Two Series Bs totalling $73M in about two weeks, both from companies that pair DTC sequencing with clinician channels, suggest investors see microbiome diagnostics as a recurring-revenue platform (repeat testing, memberships, provider distribution). The competitive question for Evvy is whether a broader gut-plus-vaginal platform with a growing clinician business can pull customers from a vaginal-health specialist. For both companies, the Vogue Business warning Afterglow covered on September 4 about vaginal health drifting into an insecurity-driven beauty market remains the brand risk to manage.

New Sources