Willow, a US-based breastfeeding pump supplier backed by healthcare products group Johnson & Johnson, has attracted $55m from investors co-led by venture capital firms New Enterprise Associates (NEA) and Meritech Capital Partners, TechCrunch reported on Tuesday.
The deal was rounded off by VC firm Lightstone Ventures and hedge fund manager Perceptive Advisors.
Founded in 2014, Willow has created a battery-powered pump that slots into a mother’s bra so that she can extract breast milk quickly and discreetly.
Consumers can also purchase an accessory that allows milk to flow directly from the pump into a container without removing the bra.
The capital will help grow Willow’s operations as it aims to capture business in international markets.
Willow raised $20m in a December 2019 round co-led by NEA and Meritech that included Lightstone Ventures and undisclosed additional investors, however this may have constituted series C funding.
The company had already secured $44.9m across two rounds in 2015 and 2017 according to regulatory filings. It had previously graduated from medical device incubator ExploraMed.
Several press reports have stated Johnson & Johnson Innovation – JJDC, the corporate’s external innovation arm, backed Willow previously, however the firm has not confirmed it has invested.
– Image courtesy of Willow