Maven Clinic, an all-in-one care platform that has put family and women’s needs on the top shelf, just closed on $125 million in funding, bringing its valuation to $1.7 billion. It’s a tremendous milestone for the company, which believes it can cover family planning, pregnancy, postpartum care, and menopause management in virtual care.
Maven Clinic, founded by CEO Kate Ryder in 2014, has already raised more than $425 million to date. The new capital will be used to enhance its fertility benefits, expand its platform, and use real-time data to proactively service its members. To date, it now covers around 17 million lives in partnership with health plans and employers-Amazon, Microsoft, and AT&T, among many others.
“Digital health is just at the very beginning,” Ryder noted while speaking with CNBC. Maven was the first dedicated US startup to women’s and family health to become “unicorn,” a valuation of more than $1 billion. The firm has welcomed prominent investments from General Catalyst, Sequoia, and Oak HC/FT firms, besides celebrity investors like Oprah Winfrey, Mindy Kaling, and Reese Witherspoon.
Still, Maven continues to refine its product roadmap, and Ryder remarks that this company does plan to go public one day. More than this, Maven is listed on the CNBC Disruptor 50 for three years running.
As women’s reproductive health has turned into a defining issue of the next election, Ryder said Maven would welcome the opportunity to support lawmakers in establishing a connection to its knowledge and data on these topics, regardless of the outcome. Within days of the June 2022 U.S. Supreme Court decision overturning Roe v. Wade, Maven supported employers in filling gaps in care as interest in travel benefits for healthcare jumped by 67 percent month over month.
He noted that a continuing research and funding process is required to inform improved policy change in these circumstances and has addressed the long-called-for key need of improved access to care within a post-Roe environment.
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