SOFIA FUND ANNOUNCES INVESTMENT IN HEALTH TECHNOLOGY COMPANY JOYLUX
MAY 3, 2018 (Minneapolis) — Sofia Fund, a leading angel investment firm focused on high-growth, women-led early stage companies, today announced it has invested in Joylux, Inc., the Seattle-based women’s intimate health and wellness company.
The Sofia Fund investment was part of Joylux’s recent Series A financing round, which closes Aug. 31, 2018, through which the company has raised $5 million. The funding will support Joylux’s launch of its vFit product in the U.S. Designed with postpartum and postmenopausal women in mind, the product is the first noninvasive, hormone-free intimate wellness solution for home use that incorporates a patented combination of red light (LED), gentle heat and sonic technology.
“With more women entrepreneurs growing successful companies, demand for funding is the highest we’ve ever seen; we’re reviewing up to 150 companies each year,” said Lisa Crump, managing partner of Sofia Fund. “We focus on businesses with compelling value propositions and innovative technology that addresses significant market needs. Joylux has both of these advantages.”
Joylux research indicates that 95 percent of the women it studied had a need to feel more confident during intimacy which is, many times, compromised after childbirth or menopause.
“I’ve spent my career working with advanced technologies and developing products for aesthetics. After the birth of my son, I discovered there was a lack of product innovation in pelvic floor health, so I applied the same scientific principles used in advanced aesthetics to the vFit solution,” said Colette Courtion.
The vFit is currently sold at www.getvfit.com, and the vFit PLUS professional model is available exclusively through physicians’ offices.
About Sofia Fund
Sofia Fund invests in and grows exceptional women-led companies to maximize returns for investors by bringing its portfolio companies successfully to profitable exits. Sofia Fund uses a rigorous process for selecting and investing in high-growth, technology-driven opportunities. Its team of professional women angel investors actively manages and supports its portfolio businesses, leveraging deep expertise and broad networks to help women entrepreneurs achieve success. Its investment team has invested more than $10 million in 50 companies to date. For more information about what makes a business fundable, see http://sofiafund.com/angels-tell-the-truth-what-makes-a-new-company-fundable/. For more information about Sofia Fund, visit www.sofiafund.com.