Maven Clinic Announces $90M Series E Funding Round Amid Seismic Shifts in Women’s and Family Health

Funding will advance Maven’s end-to-end family care platform, enabling further customization to meet the diverse needs of women and families around the world

The announcement comes in a banner year for Maven with a 5x increase in lives covered; Accelerating Demand-Driven Growth for Maven’s Global Fertility and Maternity Set

Maven Clinicthe largest virtual clinic in women’s and family health, today announced that it has raised a $90 million Series E funding round led by General Catalyst, with participation from CVS Health Ventures, La Famiglia and Intermountain Ventures, as well as existing investors Sequoia, Oak HC/FT, Icon Ventures, Dragoneer Investment Group and Lux ​​Capital. This brings Maven’s total funding to $300 million and highlights the growing demand for health services for women and families around the world.

“At Maven, we have redesigned the model of care to meet the complex needs of women and families in a global system that was not designed for them,” said Kate Ryder, founder and CEO of Maven Clinic. “Whether it’s a pregnant woman facing access issues in rural America, working parents in India in need of financial support and navigation for infertility treatment, a same-sex couple facing prejudice in the opaque surrogacy industry, or a senior executive unable to obtain support. menopause aid, our platform presents itself as reliable, affordable and relentlessly focused on patient outcomes.

Since 2014, Maven has led the category in innovation, offering the only end-to-end global reproductive health and family care platform that integrates support across the family journey, fertility and family building in maternity, parenthood, pediatrics and menopause. Combining integrated benefits coverage and the delivery of ongoing virtual care, Maven partners with employers and health plans to deliver inclusive family benefits design, promote health equity, reduce care costs, attract and retain talent and improve clinical outcomes. Maven’s technology platform offers 24/7 virtual care, easy financial reimbursement, peer communities and concierge service to members in 175 countries.

The news of the funding follows several important milestones for Maven, including:

  • Reach 15 million lives under management, a 5x increase since Maven’s Series D funding round
  • Support half of Fortune 15 companies, including AT&T and Microsoft, and major national and regional payers with Maven’s award-winning family benefits platform
  • Triple the lives covered outside of United Stateswith 60% of all multinational customers using Maven to support their employees worldwide
  • Achieve 5x growth of Maven Wallet over the past year, providing financial support for family building, reproductive health and new parental benefits
  • Provide ongoing member care, with 95% of new customers offering at least two Maven programs to their employees
  • Improve clinical outcomes, including 25% of fertility members achieving pregnancy without assisted reproductive technology, and up to 28% reduction in NICU admissions
  • Achieve the highest levels of engagement in the industry, with 60-80% of addressable members in business populations signing up to the platform, and an average of 17 touchpoints per member per month with resources clinics, communities, care advocates and Maven specialists
  • Launched a menopause and continuing care program with 1.2 million lives covered among 150 employer customers within 6 weeks of product launch
  • Expand the capabilities of pregnancy options and Maven Wallet out-of-state travel support for reproductive health services, including abortion

Maven’s mission, based on equitable access to care for women and families around the world, has never been more crucial. With nearly a third of American women of childbearing age living in states with restricted access to abortion, 15% of couples of childbearing age worldwide suffer from infertility and nearly one in three say they took sick leave for their menopausal symptoms, the need for better access to quality care has become even more urgent.

Maven will use this new funding to continue investing in customizing its platform to achieve meaningful results in commercial and Medicaid populations, improving the localization of resources to meet the specific cultural and national needs of its global members. and to increase the depth of support through all stages of family life and reproductive health.

Maven has also named three executives with expertise in building successful and impactful healthcare businesses as independent board members: Jennifer SchneiderMD, MS, co-founder and CEO of Homeward and former president of Livongo Health; Yvette Bright, former CEO of Independence Blue Cross; and Chris Clomptechnology entrepreneur and former CEO and President of Collective Medical.

“At AT&T, we are passionate about delivering world-class, family-focused benefits to support the total well-being of our employees. Maven is a wonderful complement to the generous reproductive health benefits, paid parental leave, and family planning resources we offer, helping AT&T moms and dads access caregivers, educational materials, and parenting support every step of the way. of their experience,” said Dr. Jeff TzengAT&T Senior Vice President of Health and Wellness.

“Maven’s technology platform is purpose-built to create a personalized care experience for all women and families, regardless of geography, income level, or path to parenthood, which aligns with our health insurance’s mission to create a proactive and equitable system of care,” said Holly Maloney, Managing Director at General Catalyst. “Maven has already demonstrated incredible results driving commercial traction and breadth of coverage that we haven’t seen in a women’s and family care platform. The team and health insurance community at GC are excited to join Maven in this exciting new phase of growth.

About Maven Clinic

Maven is the largest virtual clinic for women’s and family health, providing seamless, holistic care for fertility and family building through maternity, parenting, pediatrics and menopause. Leading employers and health plans trust Maven’s award-winning digital programs to reduce costs and improve maternal health outcomes, as well as improve DE&I in employee benefits programs. Founded in 2014 by CEO Kate Ryder, Maven was recognized as Fast Company’s Most Innovative Healthcare Company and has 15 million lives under management. maven lifted $300 million in financing leading investors including General Catalyst, Sequoia, Oak HC/FT, Dragoneer Investment Group and Lux ​​Capital. To learn more about Maven, visit us at mavenclinic.com.

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