Read the pitch deck these Stanford grads used to raise $11.6 million for a wearable device to track women's hormones

• The Stanford grads behind Clair Health built a wearable to track women's hormones.
• They say today's wearables have a blind spot for women.
• Read the pitch deck that helped them raise $11.6 million from Khosla and others.

Two Stanford grads believe the $100 billion wearables market has a major blind spot: women's health.

Investors seem to agree.

Clair Health, a San Francisco startup cofounded by 22-year-old CEO Jenny Duan and 24-year-old CTO Abhinav Agarwal, has raised $11.6 million in seed funding to develop a bracelet that tracks women's hormones.

Competitors like Oura, Whoop, and Fitbit have incorporated women's health features in recent years, including cycle tracking. But Clair says it was built around monitoring hormones, arguing they play a critical role in fertility, menopause, and overall health.

"Historically, we've seen this category as something that's been deemed niche," said Duan. "It's about time that a company really with women's health at its core starts building towards this mission."

"If hormones are the underlying operating system of women's health, then why is there not a better way of tracking them?" Agarwal added.

The funding was led by Khosla Ventures with participation from a16z Speedrun, Brydge Club, Treehub, Cartan Capital, AGI House, Insiders VC, and Anne Wojcicki.

The Clair Health bracelet uses a proprietary math model that maps how the brain and ovaries work together to regulate hormones.

Funds will support further research and accelerate the launch of the device and its companion app in November. Clair has seven full-time employees, and about 14 contract and part-time workers, Agarwal said.

Duan and Agarwal met during a spring break trip organized by Stanford and connected over shared interests. Duan had a background in women's health advocacy and nonprofit work, while Agarwal previously worked on a glucose-monitoring startup.

Clair says its first production run of 5,000 devices has sold out, and more than 25,000 people are on a waitlist. Early orders were priced at $295 and included a free subscription to the app. The device will ultimately retail for $369 with a paid subscription.

Here's a look at the pitch deck Clair Health used to raise its $11.6 million seed. Slides have been redacted so that the deck can be shared publicly.