Women’s health startup Maven Clinic raises at $1.7 billion valuation

Maven Clinic, a health-care startup for ladies and families, announced Tuesday that it has closed a $125 million funding round at a $1.7 billion valuation. 

The corporate seeks to supply patients virtual care across their entire reproductive life cycle, whether or not they are planning a family, pregnant, postpartum or into menopause. Maven has raised a complete of greater than $425 million, and it should use its fresh capital to speculate in its fertility advantages, expand its platform and leverage real-time data to deliver more proactive care to members. 

Maven CEO Kate Ryder told CNBC she founded the corporate in 2014 after watching her friends struggle to seek out the support they needed while constructing their families. Ten years later, Maven covers about 17 million lives through its contracts with health plans and employers, including firms like Amazon, Microsoft and AT&T. 

“Digital health is just on the very starting,” Ryder told CNBC. 

The corporate was the primary U.S. startup dedicated to women’s and family health to ever reach “unicorn” status, or a valuation of greater than $1 billion. A few of Maven’s investors include firms like General Catalyst, Sequoia and Oak HC/FT, in addition to celebrities like Oprah Winfrey, Mindy Kaling and Reese Witherspoon. 

Ryder said Maven is specializing in its product road map for now but that it goals to go public eventually. The corporate has secured a spot on the CNBC Disruptor 50 list for the last three years in a row. 

Women’s health, especially women’s reproductive health, is a hot-button issue within the upcoming election between Vice President Kamala Harris and former President Donald Trump. Ryder said Maven is open to sharing data and its perspective on policy no matter which administration wins. 

After the U.S. Supreme Court overturned Roe v. Wade in June of 2022, Maven found itself within the highlight because it worked to assist employers navigate the emerging gaps in care. Ryder called the ruling a “devastating step back for healthcare in america” in a blog post on the time, adding that its clients could use Maven to reimburse patients’ travel across state lines.

The corporate saw a 67% month-over-month increase in interest in travel advantages and health look after pregnant people after the ruling. 

That very same 12 months, enterprise investments in women’s health firms ticked up 5%, in keeping with a February report from Deloitte. Maven closed a $90 million funding round that November. Enterprise funding for the general health tech market fell 27% in the course of the same period, the report said.  

The quantity of information available about women’s health can also be improving, partially due to firms like Maven. In a post-Roe world, nevertheless, Ryder notes the knowledge is commonly bleak, especially as experts are “beginning to see a fuller picture of preventable death due to restricted access to care.” 

“I feel between more funding and research, more data points from states, from platforms like ourselves, you may begin to point and paint an entire picture of all the things occurring that helps change policy for the higher,” Ryder said. “The query is, to be honest, when? And what number of more people must needlessly suffer within the meantime?”