Maven Clinic, a health-care startup focused on women and families, recently announced the closure of a $125 million funding round, valuing the company at $1.7 billion. The company’s goal is to provide virtual care throughout the reproductive life cycle, supporting individuals from family planning to menopause. With a total funding of over $425 million, Maven plans to enhance its fertility benefits, expand its platform, and utilize real-time data to offer more proactive care.
Founded in 2014 by CEO Kate Ryder, Maven was established to address the challenges faced by individuals in building their families. Currently, Maven serves approximately 17 million individuals through partnerships with health plans and employers, including major companies like Amazon, Microsoft, and AT&T. Ryder believes that digital health is still in its early stages.
As the first U.S. startup dedicated to women’s and family health to achieve “unicorn” status, Maven has received investments from firms like General Catalyst, Sequoia, and Oak HC/FT, as well as celebrities such as Oprah Winfrey, Mindy Kaling, and Reese Witherspoon. While Maven is currently focused on its product development, the company aims to go public in the future and has been featured on the CNBC Disruptor 50 list for three consecutive years.
Women’s health, particularly reproductive health, is a significant topic in the current political landscape, with Vice President Kamala Harris and former President Donald Trump at the forefront. Maven is prepared to share data and insights on policy, regardless of the election outcome. Following the overturning of Roe v. Wade in June 2022, Maven played a crucial role in assisting employers in navigating the changing healthcare landscape.
In response to the ruling, Maven observed a 67% increase in interest in travel benefits and healthcare for pregnant individuals. Despite a 5% rise in venture investments in women’s health companies in the same year, overall venture funding for health tech decreased by 27%. Maven’s efforts have contributed to the improvement of data availability in women’s health, shedding light on preventable deaths due to restricted access to care.
Ryder emphasizes the importance of funding, research, and data in shaping policy changes for the better. She highlights the urgency of addressing the challenges faced by individuals in accessing healthcare, stressing the need for prompt action to prevent unnecessary suffering.
