Funding profile · Male fertility diagnostics

Legacy

Three announced rounds totalling $34 million in named capital, a reported total stated four different ways, and no Form D on file with the SEC. The verifiable records here are federal registrations, not financings.

Data as of September 23, 2026. Company-reported figures are labeled.

Rounds at a glance

What the filings show

Reading the filings

1. No Form D is not the same as no money.A Regulation D notice is due within 15 days of first sale when an issuer relies on Rule 506. An issuer selling under Section 4(a)(2) files nothing. Legacy has announced $34.0 million in named rounds and claims far more, and EDGAR shows no Form D under its name, so the capital picture rests on statements rather than filings.
2. The totals do not reconcile.Named rounds through May 2022 add to $40.0 million counting the two reported earlier rounds ($1.5M, $3.5M, $10M, $25M). The Series B release states: “Today’s financing brings the company’s total funding to $45M.” The Y Combinator page says $40M in one place and “almost $50M” in the founder bio. July 2024 says “over $40M” before that round. The company profile on Trustpilot says “backed by over $50M”. Add $7.5 million to the $40.0 million of named rounds and you get $47.5 million, which sits between them.
3. An algorithm opened the 2024 round.TRAC.vc cold-emailed the company, Kteily filled in forms, and an offer came back the same week. The release says the firm’s “algorithm deemed that Legacy had a higher likelihood of becoming a unicorn than 99% of startups evaluated by their methodologies, in part due to the strength of their cap table”. The $7.5 million that followed was raised as SAFEs, which is one reason no priced round and no Form D appear.
4. There is no non-dilutive layer.NIH and NSF award searches return nothing for this company. Unlike most diagnostics businesses of its age, every dollar here is private. The federal relationship is a revenue one: a subcontract to the Department of Veterans Affairs through Veterans Evaluation Services, plus network status with TriWest, TRICARE West and Optum VA Community Care Network.
5. Profitability is asserted, not evidenced.Kteily in July 2024: “In a challenging economic environment, this fundraise takes us to profitability, which means we’ll be able to grow and scale on our own terms”. No revenue or margin figure has been published. Two years earlier, six weeks after the $25 million Series B, the Boston Business Journal reported layoffs.
6. The 2026 moves read as a share grab.The basic semen analysis was cut to $145 in April 2026 from $295, advanced analysis with DNA fragmentation to $495, and storage starts at $245 a year. That is priced against Ro, which bought Dadi for $100 million in 2022, and Fellow Health, which raised a $24 million Series B in July 2025.

Commercial signals

What to watch

• A first Form D, which would be due within 15 days of the first sale in any Regulation D round.
• Any disclosed revenue figure to test the profitability claim.
• Whether the SAFEs from 2024 convert in a priced round, and at what valuation.
• New FDA establishment registrations, signalling owned storage rather than partner sites.
• Results of the Sperm Study, the one asset that could move this from a logistics story to a clinical one.

The Legacy story on Healthcare DiscoveryHealthcare Discovery

Related companies

• Phoenix: Shared investor: Bain Capital Ventures. A Toronto platform that routes Canadian men through an online form to an independently licensed prescriber, then ships it from an unnamed partner pharmacy
• Biodock: Shared investor: Tq Ventures. A cloud platform that lets a biologist train an image-analysis model without writing code
• TrueClaim: Shared investor: Bain Capital Ventures. A Y Combinator backed third party administrator trying to run self funded employer health plans on modern software
• SiPhox Health: Also in Consumer Health and Wellness. An MIT spinout building a silicon photonic chip meant to run immunoassays in a countertop box at home

Sources

1. Public recordFDA HCTERS public query, give legacyFDA CBER · Sep 23, 2026
2. Public recordNPPES NPI Registry, NPI 1366068454CMS · Sep 14, 2026
3. Public recordSEC EDGAR Form D search, no filing under the company nameSEC · Sep 23, 2026
4. CompanyLegacy Secures $25M Series B to Scale Sperm Fertility OfferingsBusiness Wire · May 12, 2022
5. CompanyLegacy Secures $7.5M to Make Sperm Testing and Storage More AccessiblePR Newswire · Jul 19, 2024
6. CompanyLegacy Raises $1.5 Million in Funding Led by Bain Capital VenturesPR Newswire · Jun 6, 2019
7. IndependentHow a cold reach-out from a VC algorithm kickstarted Legacy’s fundraising pushBusiness Insider · Jul 17, 2024
8. IndependentAfter raising $25M, male fertility startup Give Legacy lays off workersBoston Business Journal · Jun 24, 2022
9. IndependentFellow Health raises $24M to expand reproductive testing servicesMobiHealthNews · Jul 21, 2025
10. IndependentLegacy company page, batch and founder bioY Combinator · accessed Sep 23, 2026

Compiled from SEC, FDA, CMS and other public records and published reports as of September 23, 2026. Form D notices report offerings under Regulation D; no such notice appears under this company name, which does not by itself mean no capital was raised. Healthcare Venture Capital Fund holds no position in Legacy. This page is not an offer to sell or a recommendation to buy any security.