Startup

Women healthtech unicorn Maven Clinic raises $90M to scale its virtual clinic platform

Maven

Reportedly, almost one-third of women of reproductive age living in the US face restrictions on access to abortion, 15% of reproductive-age couples globally experience infertility, and nearly one-in-three women say they have taken sick days for their menopause symptoms. These studies show that there is an urgent need for greater access to quality care than ever before.

This is where Maven Clinic, the first female health unicorn based in the US comes to the picture. It works with the mission to provide access to quality health care to women and families around the world.

Series E investment round

Maven Clinic, the largest virtual clinic in women’s and family health, has raised $90 million in Series E funding. This round follows the $110 million Series D funding that it raised last year. This brings Maven’s total funding to $300 million and highlights the growing demand for women’s and family health services globally.

The investment round was led by General Catalyst (which backed Doccla and Plume) along 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.

Maven will use this new funding to continue to invest in personalisation across its platform to drive meaningful outcomes in both commercial and Medicaid populations, enhance localisation of resources to meet the cultural and country-specific needs of its global members, and increase depth of support across all family and reproductive health life stages.

“Maven’s technology-driven platform is purpose-built to create a personalised 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. “Maven has already demonstrated incredible outcomes driving commercial traction and a breadth of coverage that we have not seen in a women’s and family care platform. The GC health assurance team and community is excited to join Maven in this exciting new phase of growth.”

Family benefits platform

Maven Clinic supports half of the Fortune 15 companies, including AT&T and Microsoft, and leading national and regional payers with its award-winning family benefits platform.

It has launched a Menopause and Ongoing Care Program with 1.2 million lives covered across 150 employer clients within 6 weeks of product launch. Also, it has expanded pregnancy options and Maven Wallet support for out-of-state travel for reproductive health services, including abortion.

“At AT&T, we’re passionate about providing world-class, family-focused benefits to support the total wellbeing 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 care providers, educational materials and parental support at every stage of their experience,” said Dr. Jeff Tzeng, AT&T Senior Vice President of Health and Wellbeing.

Specialised virtual clinic for women

Founded in 2014 by Kate Ryder in New York, Maven Clinic is committed to assisting every member’s individual needs and has established a new standard for family care, focused on the patient-first principles of access, equity, and personalisation.

It offers the only end-to-end global reproductive health and family care platform that integrates support across the entire family journey, from fertility and family building through maternity, parenting, pediatrics and menopause. Maven Clinic combines integrated benefit coverage and continuous virtual care delivery.

It partners with employers and health plans to deliver inclusive family benefit design, promote health equity, reduce costs of care, attract and retain talent, and improve clinical outcomes. The technology platform offers 24/7 virtual care, easy financial reimbursement, peer communities, and concierge support to members across 175 countries.

The post Women healthtech unicorn Maven Clinic raises $90M to scale its virtual clinic platform appeared first on Tech Funding News.

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