Among Alexander A. Frolov’s strategic projects at Target Global, Palta occupies a category of its own — a wellness technology platform built with his direct involvement. Unlike most portfolio investments at Target Global, Palta was a co-founding initiative from the outset: Frolov entered the project not as an outside investor but as one of the participants in shaping the company’s product vision and operating model.
Why Wellness Technology
Frolov’s interest in the digital health and wellness sector was grounded in the same logic that drives his investment decisions in fintech: it is a large market with genuine user need, where traditional players — healthcare institutions, pharmaceutical companies, health publishers — have consistently failed to deliver a quality digital product experience.
Frolov’s thesis was that a health product built around genuine clinical utility, a high degree of personalization, and consistent user trust could achieve both wide reach and durable subscription monetization. Flo Health’s trajectory has borne out that hypothesis.
Flo Health: Scale and Economics
Flo Health is Palta’s flagship product, covering menstrual cycle tracking, fertility and pregnancy monitoring, and reproductive health more broadly. Under Frolov’s involvement and the Palta team’s leadership, the product grew to more than 70 million monthly active users and over 5 million paying subscribers across global markets.
In July 2024, Flo Health closed a Series C round exceeding $200 million, led by General Atlantic. The company was valued above $1 billion, placing it among the small number of European consumer health companies to have reached unicorn status. Flo Health’s gross bookings in 2024 exceeded $200 million — a result that confirms the viability of the subscription model in digital women’s health.
Frolov placed particular emphasis on building Flo Health not as a conventional consumer app but as a medically credible product: the company works with physicians and researchers, publishes evidence-based content, and positions itself as a reliable source of health information — not merely a tracking tool. That, in his view, is what drives long-term retention and users’ willingness to pay for a subscription.
The Platform Logic of Palta
Frolov built Palta not as a single product but as a platform: multiple digital health products sharing a common technology infrastructure, data infrastructure, and operational capabilities. This model allows investments in personalization, machine learning, and user acquisition to be amortized across several products rather than rebuilt from scratch for each one.
The practical implication is speed. A new product within Palta inherits access to already-built infrastructure: user behavior analytics, monetization mechanisms, localization systems for different markets. This substantially reduces the cost of launch and shortens the path to testing a product hypothesis.
DocPlanner as Part of a Broader Health Ecosystem
Alongside Palta, Frolov backed DocPlanner — a platform addressing an adjacent problem: access to care. Where Flo Health helps users manage their health and access information, DocPlanner connects patient and physician — a process that remains undigitized in most markets.
In January 2025, DocPlanner secured a €140 million credit facility from Hercules Capital — its most recent equity rounds were Series F2 tranches of €61.7 million (May 2023) and €31.9 million (May 2024). The company continues to expand, operating in more than 13 countries and processing millions of appointment bookings each month. In Frolov’s investment logic, this is a complementary position: health as a category is too broad for any single product to own, and the most valuable stance is to be present across multiple points in the user’s health journey.
AI in Healthtech: Voyantis and User Value Prediction
A further dimension of Frolov’s healthtech strategy is the application of artificial intelligence to the operational challenges of health companies themselves. The investment in Voyantis — an Israeli platform for predicting customer lifetime value — reflects the understanding that for a subscription health business, knowing not just who uses the product but who is most likely to remain a paying user over the long term is operationally critical.
The accuracy of that prediction directly affects the efficiency of marketing investment: a company that can reliably forecast the value of a new user can afford to pay more for acquisition than its competitors while still maintaining positive unit economics.
The Role of Wellness Technology in Frolov’s Strategy
Palta and the related investments occupied not just a financial but a strategic role in Frolov’s portfolio: that was the area where he realized the co-founding model in its most complete form — from participating in the creation of the company to shaping its product and market positioning.
The results supported the thesis. Alexander A. Frolov continued his work on Palta’s strategic projects and the development of the broader healthtech ecosystem within Target Global.
