Nodal, a platform for surrogates to connect with expectant parents after reviewing their parent profile, launched on Wednesday with a $4.7 million capital raise.
Nodal was incubated by Pareto Holdings. The round was led by Amplo and supported by Chelsea Hirschhorn of baby and pregnancy supply company Frida, Scott Belsky of Behanceand Kate Ryder of Maven Clinical, Venture Capital Great OaksInterplay Venture Capital and others.
WHAT HE DOES
Nodal aims to speed up the surrogacy connection process by incentivizing surrogates to connect with intended parents after evaluating parent profiles on its platform.
Individuals and couples pay a monthly fee to Nodal to create a profile on the company’s platform that surrogates can view. According to the press release, Nodal screens every member on its platform through background checks and live interviews.
“For many people, surrogacy is the best and only option for starting or growing a family, but potential surrogates and expectant parents find the cost of the industry prohibitive, difficult to navigate and, frankly, frustrating. . That’s what we’re working to change,” Nodal Founder and CEO Dr. Brian Levine said in a statement.
“Our goal is to make surrogacy a feasible option for more expectant parents and to give surrogates an exceptional experience of education, support and empowerment along the way.”
Kindness, which offers fertility services including contraceptive care, egg freezing, fertility testing and virtual wellness and coaching services, announced its acquisition of surrogacy agency Alternative Reproductive Resources based in Chicago at the beginning of August this year. This acquisition marked the third announced by Kindbody in 2022 alone.
Legacya male fertility startup offering home sperm testing kits, sperm analysis, and cryopreservation, is another fertility company that announced $25 million in Series B funding in May 2022.