Willow acquires femtech rival Elvie as it expands global maternal health platform
The deal brings together two of the sector’s most recognisable and longest-running brands
Willow Innovations, the US-based femtech company best known for its wearable breast pumps, has acquired its UK rival Elvie in a move to create a global maternal health platform. The deal brings together two of the sector’s most recognisable and longest-running brands, combining their product portfolios and international reach.
The acquisition, announced on Thursday with terms undisclosed, marks a significant step in Willow’s ambition to expand its footprint in the maternal health market. The company, which introduced the first fully in-bra wearable breast pump in 2017, said the merger would allow it to diversify its offering and strengthen operations as well as benefit from a global distribution. Elvie, founded in 2013, has built a reputation for its breast pumps, smart pelvic tools and sleep solutions, aiming to break taboos around women’s health.
Sarah O’Leary, CEO of Willow, said:
“Our goal is to elevate the maternal experience with inventive solutions to support and empower mothers. Acquiring Elvie, a deeply respected innovator in the women's health category, puts us in a leadership position to continue innovating for moms and drive meaningful, global advancements in women's and maternal health. We are thrilled to welcome the Elvie brand to the Willow family.”
Financial struggles challenged Elvie
Elvie secured over $136m in funding since its launch from prominent investors including BlackRock and Octopus Ventures, most recently £9.6m in unannounced funding in May 2024, described as a ‘small internal raise.’
However, the Financial Times reported that Elvie had fallen into administration before it was acquired by Willow. It also reported that Willow had previously taken legal action against Elvie over a patent dispute and that Elvie faced challenges scaling up a UK tech company.
“Without serious and incentivised US backers you cannot win in their market,” said one investor to the FT.
“If Elvie was a USA business it would have had protections [over its intellectual property], growth capital and be a decacorn [valued at more than $10bn],”.
A legacy brand
Over the last 12 years, Elvie has grown into one of the most recognisable brands in women’s health tech, with two products named in TIME Magazine’s 100 Best Inventions, sold out launches and multi-million dollar funding rounds.
It blazed a trail with both its pelvic trainer and breast pump, turning functional tech into aspirational, design-led products.
Elvie also combined excellent products with broader work to educate, raise awareness and break down taboos. It was one of the early companies to begin educating investors about women’s health innovation - and the potential and profitability.
And it helped to get people talking about the topics we hadn’t done before. At London Fashion Week in 2018 breastfeeding model Valeria Garcia walked down the runway wearing the Elvie breast pump.
Then in 2019 giant inflatable boobs were placed in London’s Shoreditch as part of a #FreeTheFeed campaign to try smash taboos about breastfeeding in public.
The company’s director, Karim Abdel-Ghaffar Plaza, said:
“We are happy that the much-loved Elvie brand – with its iconic products and innovation – will continue its journey under Willow’s guidance. Elvie has always been committed to dismantling the stigma surrounding women’s health and bringing innovative technology to women, and we are pleased that Elvie and Willow can now continue to tell that story together.”
Consolidation of the market
The wearable breast pump market has seen rapid growth, now accounting for 57% of the US market, according to industry data from Circana. The merger of Willow and Elvie signals further consolidation in the femtech space, a sector that has gained increased investor attention in recent years as demand for technology-driven maternal health solutions grows.
“Willow and Elvie have a shared history of disrupting tired categories with women-first innovation, and advocating for women and mothers. We're excited to continue this work together, knowing that our teams share the belief that moms deserve better – better technology, better support, and better health outcomes,” O’Leary said.