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Maven Clinic Nabs $110M Funding Round
Maven Clinic, a female-founded company focused on women's and family health, has reached unicorn status, a first for the sector.
Its $110 million series D funding round also was backed by a female investor, Deena Shakir, partner at Lux Capital, and got a boost from Orpah Winfrey as a new backer.
The company attracted other high-profile investors in its series C round last year, including Reese Witherspoon, Natalie Portman, Mindy Kaling and 23andMe CEO Anne Wojcicki.
The round was co-led by Dragoneer Investment Group and Lux Capital, with participation from BOND and existing investors Sequoia, Oak HC/FT and Icon Ventures.
Maven Clinic, launched in 2014, is a virtual clinic for women's and family health, offering care for fertility, pregnancy and parenting. The company has supported more than 10 million women and families to date, according to executives, and has raised more than $200 million.
Building on its momentum with global employers and payers, Maven plans to use the cash infusion to expand into new populations and to invest in additional product innovation to further enhance its member experience designed to improve clinical outcomes.
Women's and family health has been "under-researched, under-sized, and under-innovated," according to Kate Ryder, founder and CEO of Maven. "As a result, it's profoundly underperforming, failing patients during some of the most challenging times in their lives."
"With the support of our new and existing investors, Maven will be able to deliver on the promise of digital health for women and families everywhere, offering personalized care that meets them where they are," she said.
"The digital era for women's and family health has arrived," Ryder said.
Continue reading at fiercehealthcare.com
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