Announcing $26 Million in Funding for Allara
Behind the scenes of closing Series B funding and what I’m taking away from it.
Secret’s Out…
In case you missed it, TechCrunch announced on Friday that Allara had officially closed our Series B funding, raising $26M, with Index Ventures leading the round and GV participating.
The biggest feeling I have right now is gratitude. For our investors, for our team, and especially for our patients – all of these people who believe in what Allara is building. Even though I strongly believe in our work and would back us in every lifetime, having a community’s support feels empowering.
More to come below on what the experience was like and what it taught me, but if there is anything that I can give back to you all today, I hope it’s some form of gratitude, empowerment, and excitement for the future.
In case you haven’t heard it this month: You can accomplish great things.
Rachel
Funding: What It Is and What It Isn’t
The alphabet soup of funding the startup world can be confusing. In various “Series,” or stages, investors put money into a growing company, like Allara, in exchange for equity, or ownership, in said company. The idea is that at each stage you get some amount of money to prove a thesis, and as you prove the business you raise more money at each subsequent stage (pre-seed, seed, series A, series B, series C, etc.).
Series A consists of proving a strong business need and the matching strategy to bring it to success. We had raised $12.5 in our Series A round because people bet on women’s healthcare needing a change (Who knew! Aside from all of us with chronic hormonal conditions…?).
That gave us the runway to develop the nuts and bolts of Allara: our platform, our patient audience, and our providers. But it left more to come.
Enter Series B. This occurs as a second stage to set companies up for success on a larger scale, after companies have proven their product-market fit (Thanks to our patients, Allara has!) The investment is intended to help a company expand its market reach.
At Allara, that looks like:
National insurance contracts and expansion across all 50 states
Adding new care providers to broaden the type of services we can provide patients
Launching new services that our patients have been asking for, like supplements and fertility support
But series funding is just that: funding. It’s on the company to figure out where to go, how to get there, and, for us at Allara, how we can keep patient satisfaction at the center of our growth.
What Series Funding Looks Like Behind-the-Scenes
When we celebrate milestones like a Series B fundraise, it’s easy to focus on the success and overlook the years of uncertainty, persistence, and grit that led to this moment. For female founders—especially in women’s health—this truth is even more pronounced. With less than 2% of venture funding going to female founders, the odds are stacked against us from the start.
But like so many things in life, this achievement was the result of a confluence of factors: hard work, luck, and relationship building. None of it happened overnight, and like many fundraising journeys, this one was a long process filled with lessons, challenges, and moments of reflection.
I first connected with the team at Index Ventures over a year ago. From our very first conversation, it was clear that they saw the enormous opportunity and urgent need in women’s health—a space that has been historically underserved and undervalued. We stayed in touch over the months, and I made it a point to share milestones, updates, and progress along the way.
Over that time, something important happened: we built trust. I came to believe that Index was the right partner to take Allara to the next level, and they developed confidence in me, our team, and our vision. They saw that we weren’t just building a company, we were building something transformative for healthcare and women everywhere.
Fundraising is never easy, and this round was no exception. It’s a journey that demands not only vision and strategy but also resilience, patience, and the ability to weather uncertainty. I’m excited to share more lessons learned from this process in future posts.
What’s Next
At this moment, Allara stands at an extraordinary inflection point. We have proven product market fit. We have raised a Series B from a top-tier firm – an achievement that less than 20% of companies that raise a Seed even accomplish!
Now, our challenge is to continue our rapid growth pace, only with a caveat. The caveat: driving aggressive growth while simultaneously delivering an outstanding patient experience.
So where do we go from here?
There is a Sheryl Sandberg quote: “If you’re offered a seat on a rocket ship, don’t ask what seat. Just get on.”
Right now, I find myself on a new rocket ship that has entered uncharted space. On top of that, I am asking my team, investors, and patients to join me on the uncertain journey ahead.
I know firsthand how bumpy the ride can be, but I truly cannot wait for this journey.