New York-based Femtech startup Maven Clinic has raised $90 million in its Series E funding round led by General Catalyst. The round also saw participation from CVS Health Ventures, La Famiglia, Intermountain Ventures, Sequoia, Oak HC/FT, Icon Ventures, Dragoneer Investment Group, and Lux Capital.
The startup’s capital currently amounts to about $300 million following the most recent fundraising round. The latest fundraising round is anticipated to be the biggest in the femtech industry this year.
Maven Clinic, a virtual clinic operating in the women’s and family health sector, intends to invest in personalization across its platform to drive meaningful outcomes in both commercial and Medicaid populations.
“At Maven, we have reimagined the care model to address 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.
The emphasis will be on improving the localization of resources to meet the requirements of its international members that are culturally and geographically specific and increasing the depth of support throughout all family and reproductive health life phases.
“Whether it’s a pregnant woman faced with access issues in rural America, working parents in India needing financial support and navigation for infertility treatment, a same-sex couple facing bias in the opaque surrogacy industry, or a senior executive unable to get menopause support, our platform shows up reliably, affordably, and relentlessly focused on patient outcomes,” said Kate Ryder.
Maven Clinic aims to provide equitable access to care for women around the world
Maven is a virtual clinic for women’s and family health that was established in 2014 by its CEO Kate Ryder. It provides ongoing, all-encompassing treatment for fertility and family building through maternity, parenting, pediatric, and menopause.
By utilizing its digital initiatives, employers and health plans can lower costs, improve maternal health outcomes, and improve Diversity, Equality, and Inclusion in benefit programs.
Members from 175 countries are accessing the technology platform’s 24/7 virtual care, simple financial reimbursement, peer communities, and concierge support.
With nearly one-third of US women of reproductive age living in states that restrict access to abortion, 15 percent of couples worldwide experiencing infertility, and almost one-third of women reporting they have used sick days for menopause symptoms, there is an increasing need for Maven Clinic-like services.
“Maven’s technology-driven platform is purpose-built to create a personalized care experience for all women and families regardless of geography, income level, or pathway to parenthood, which aligns with our health assurance mission to create a proactive and equitable system of care,” said Holly Maloney, Managing Director at General Catalyst.