Legacy Sperm Bank Raises Fresh Funding

NEW YORK — Legacy, a digital fertility clinic for men, has secured $7.5 million in financing to power its mission to make male fertility services more accessible, including through the fulfillment of two recently signed contracts to serve over nine million veterans.

Advised by a group of the world’s top fertility experts, Legacy provides sperm testing and freezing via at-home kits shipped directly to clients. More than 25,000 sperm samples have been analyzed at the company’s two state-of-the-art andrology labs — more than at any other clinic.

Recent research indicates the average global sperm count has declined 50% over the last 40 years and 1 in 6 couples are now dealing with infertility. “This is the issue of our time,” says Legacy CEO Khaled Kteily. “Per recent studies, the average sperm count is declining about 26% per decade. In other words, we’re firmly on the path to sperm count zero AKA ‘spermageddon’, where we are functionally incapable of conceiving without the use of assisted reproductive technologies.”

He adds: “Our prediction has always been that within five years from now, sperm freezing will be as normal for someone to talk about as egg freezing is today.”

“It’s a smart idea to preserve your fertility at its peak,” says Dr. Ramy Abou Ghayda, urologist and Legacy’s chief medical officer. “Freezing sperm at its youngest and healthiest gives you a greater chance of having healthy children. It’s a great life insurance policy.”

The fresh round of capital included TRAC.vc, a VC fund which leverages an AI-powered algorithm to make investment decisions. Their algorithm deemed that Legacy had a higher likelihood of becoming a unicorn than 99% of startups evaluated by their methodologies, in part due to the strength of their cap table and the high growth rate of the male fertility industry.

Legacy had previously raised over $40 million from a consortium including Bain Capital Ventures, FirstMark Capital, and celebrities like Justin Bieber, The Weeknd, Orlando Bloom, and DJ Khaled.

“In a challenging economic environment, this fundraise takes us to profitability, which means we’ll be able to grow and scale on our own terms,” said Kteily.

In addition to serving the military, Legacy is trusted by institutions across the country, including the Cleveland Clinic, NYU Langone Health, UnitedHealthcare, Aetna, Cigna, and other leading payers and providers.