15. Progyny

Fertile ground for disruption.

Founders: Gina Bartasi, Lissa Goldenstein, Kevin Loewke, Renee Reijo Pera
CEO: David Schlanger
Launched: 2015
Headquarters: New York City
$98.9 million
Valuation: $123.1 million (PitchBook)
Key technologies:
Health care, fertility treatments

George Kavallines | CNBC

According to the Centers for Disease Control and Prevention, the majority of first-time moms are now 30 and older. That means an increased chance of infertility and more need for medical intervention. Progyny is helping women with these issues. The New York City-based company is a fertility benefits start-up that offers plans to large, self-insured companies to help their employees cover the cost for fertility treatments. These include procedures such as in-vitro fertilization and egg freezing, expensive interventions that are increasingly needed but not always covered. In fact, according to a research report by Technavio, the global fertility services market is expected to reach $21 billion by 2020.

Read More: FULL LIST: 2018 DISRUPTOR 50

The company, which was started in its current form in 2015 (it launched as an online fertility information platform in 2008), said revenues doubled last year. David Schlanger joined Progyny as CEO in December 2016 and was the former CEO of WebMD. He revealed earlier this year that the company is on track to double revenues again this year and expects the same growth with customers. In 2017 it added 13 new Fortune 500 companies to its customer roster. New services will help fuel that growth. In January it added a pharmacy benefit so that members can get next-day medication delivery at discounted prices.

So far, Progyny has raised a little more than $98 million in funding from venture heavyweights Kleiner Perkins Caufield & Byers, as well as Merck Ventures, including a new round of $15 million last year. The company is certainly moving into a growing market: The CDC reports that today 1 in 8 women in the United States has used infertility services.