Maven Clinic, a digital clinic for girls’s and household well being, has secured $125 million in Sequence F funding, the corporate introduced Tuesday.
New York Metropolis-based Maven Clinic gives help for fertility, maternity, parenting, menopause and different areas. It really works with greater than 2,000 well being plans and employers throughout 175 nations, together with Amazon, Microsoft and AT&T.
The $125 million Sequence F funding spherical was led by StepStone Group and included participation from present traders Common Catalyst, Sequoia, Oak HC/FT, Icon Ventures, Dragoneer Funding Group and Lux Capital. In whole, Maven Clinic has raised greater than $425 million. The funding brings its valuation to $1.7 billion, in response to Reuters.
“For a decade, Maven Clinic has defied preconceptions, repeatedly proving that ladies’s healthcare will be intuitive, technology-first, and high-quality for each buyer, from sufferers to employers to payers and suppliers,” mentioned Seyonne Kang, companion at StepStone Group, in an announcement. “We look ahead to seeing Maven proceed reimagining healthcare for households within the coming years.”
Whereas the corporate believes it’s “able to going public,” it’s at the moment “laser centered on guaranteeing Maven might help notice the $1 trillion alternative to spice up the worldwide economic system with improved girls’s healthcare,” Dr. Neel Shah, chief medical officer of Maven Clinic, instructed MedCity Information.
The funding will go in the direction of a number of areas. The corporate will put money into its fertility advantages administration program referred to as Maven Managed Profit. This program gives fertility training, trying-to-conceive teaching and entry to a community of greater than 475 clinics. Maven Clinic can even put money into AI to make its maternity care extra customized. As well as, it can improve its parenting and pediatrics providing and increase its midlife help, specializing in areas like persistent situations, sexual wellness and psychological well being. The corporate can even advance its value-based partnerships with Medicaid plans and fully-insured plans.
“We’ll double down on our dedication to make sure girls and households obtain the care they deserve. We’ll proceed to introduce monetary and medical innovation into fertility advantages to make sure households have a seamless expertise between bodily and digital care,” Shah mentioned. “We’ll proceed to harness the facility of enormous datasets to personalize care journeys and guarantee our members have the identical alternatives to thrive, whether or not they’re a Medicaid recipient or an worker of a Fortune 50 firm.”
The ladies’s well being area has traditionally been underfunded. Though girls signify half of the inhabitants, simply 3% of digital well being funding centered on girls’s well being between 2011 and 2020, in response to Rock Well being. Maven Clinic’s funding announcement is “validating” for each the ladies’s well being sector and all of digital well being, Shah declared.
He added that the corporate’s purpose trying forward is to verify digital well being reaches its full potential.
“Brick and mortar well being care is crucial,” Shah mentioned. “However everyone knows that well being isn’t produced throughout the 4 partitions of a hospital. It’s produced within the areas the place we stay our lives – in our properties, in our communities, in our workplaces. And to succeed in folks there, outdoors a 15 minute clinic go to, we’d like the technological affordances of digital well being. Our alternative is to make sure that the potential of digital well being is absolutely realized.”
Different firms within the girls’s well being area embody fertility clinic Kindbody, maternity care firm Pomelo Care and menopause help firm Evernow.
Picture: StockFinland, Getty Photographs
