Nodal, a platform that allows representatives to connect with intended parents after reviewing their parents’ profiles, launched Wednesday with $4.7 million in capital.
Nodal is incubated by Pareto Holdings. This round was led by Amplo and supported by Chelsea Hirschhorn of newborn and maternity supply company Frida, Scott Belsky of Behanceand Kate Ryder’s Maven Clinic, Great Oaks Venture CapitalInterplay Venture Capital and others.
WHAT IT DOES
Nodal aims to speed up the surrogacy matching process by prompting surrogates to connect with intended parents after reviewing the parents’ profiles on its platform.
Individuals and couples pay a monthly membership fee to Nodal to create a profile on the company’s platform that representatives can view. According to the press release, Nodal screens each member on its platform through background checks and face-to-face interviews.
“For many people, surrogacy is the best and only option for starting or growing a family, but both potential surrogates and intended parents recognize the costs of the industry. This is too high, hard to navigate and frankly disappointing. That is what we are working to change,” said Nodal founder and CEO, Dr Brian Levine in a statement.
“Our goal is to make surrogacy a viable option for more intending parents and to provide surrogates with an exceptional experience of education, support and empowered throughout the process.”
SNAPSHOT . MARKET
Good people, a company that provides fertility services including contraceptive care, egg freezing, fertility testing and virtual wellness and coaching services, has announced the acquisition of a surrogacy agency. based in Chicago in early August this year. This acquisition marks the third time announced by Kindbody in 2022 alone.
Heritagea male fertility startup offering home sperm testing kits, semen analysis and cryopreservation, is another assisted reproductive company that has announced funding Series B is $25 million in May 2022.