In the United States, 1 in 5 (19%) of married women aged 15 to 49 with no prior births are reportedly unable to get pregnant after 1 year of trying. About 1 in 4 (26%) of women in this group have difficulty getting pregnant or carrying a pregnancy to term. 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 into the picture. It provides women and families around the world access to quality health care.
Raises $125M funding
Today, the world’s largest virtual clinic for women’s and family health raised $125 million in Series F funding. The round was led by StepStone Group (which invested in Zepto and Poolside), with participation from existing investors General Catalyst, Sequoia, Oak HC/FT, Icon Ventures, Dragoneer Investment Group, and Lux Capital. This brings Maven’s total funding to more than $425 million, including the $90 million investment raised in 2022. With this round, the company has reached a valuation of $1.7 billion.
Maven will use the capital to further invest in Maven Managed Benefit, its fertility benefits administration platform, as well as reinforce and expand its end-to-end platform, which includes virtual care delivery across maternity, parenting and pediatrics, and menopause.
Across its platform, Maven will invest in the technology powering its human-led care model, harnessing artificial intelligence to personalise and enhance care for its members. Additionally, Maven will use this capital to bolster its value-based offerings across both fully insured and Medicaid populations.
“For a decade, Maven Clinic has defied preconceptions, repeatedly proving that women’s healthcare can be intuitive, technology-first, and high-quality for every customer, from patients to employers to payers and providers,” said Seyonne Kang, partner at StepStone Group. “We look forward to seeing Maven continue reimagining healthcare for families in the coming years.”
“Maven is a technology platform and a healthcare company in equal measure,” said Jason Lee, Chief Product and Operating Officer at Maven Clinic. “Over the past decade, we’ve built a human-centered care engine powered by years of data on effective ways to drive outcomes. Today, that allows us to harness artificial intelligence to deliver at greater scale. From automating administrative functions in our payments product to empowering providers and care coaches to more efficiently influence behavior change and outcomes, Maven shows up for our members wherever they are in the world or in their health journey.”
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.
More than 2,000 clients in 175 countries trust Maven to support their employees, including Amazon, Microsoft, AT&T, Morgan Stanley and L’Oreal.
“Over the last 10 years, Maven has created and scaled a comprehensive virtual care model in one of the most underfunded sectors in healthcare,” said Kate Ryder, founder and CEO of Maven Clinic. “The next decade is about transformation. We now have the platform breadth, depth, and data required to create the scaled change this industry so sorely needs. With each member supported, we continue to prove that to build better healthcare for everyone we must first build it for women and families.”
Offers fertility benefits
Maven Managed Benefit (MMB) combines the best of a carve-out fertility benefit with virtual care and health coaching to deliver better outcomes for families and cost savings for employers. MMB uniquely provides fertility education and Trying-to-Conceive (TTC) coaching, giving couples a pathway to conceive without IVF, while also ensuring those who need IVF receive the support and benefits they need to reach a healthy pregnancy. Maven’s performance network of 475+ fertility clinics is integrated with the virtual experience, allowing members to get real-time updates on their benefits and costs on the same platform they receive fertility education and coaching.
How will this help Maven Clinic?
The funding will enhance its value-based partnerships in maternity care, realising its vision to make quality, equitable healthcare more accessible to everyone. Since 2022, Maven has tripled its Medicaid market presence and demonstrated that it can engage Medicaid recipients early and often in their pregnancies: pregnant Medicaid members have 20+ touch points per month in the Maven platform.
Through Maven, employers and health plans see a 2:1 clinical ROI, and the company has proven that it reduces C-section rates by 8-20% and NICU admissions by 20-28%.
What do we think about Maven Clinic?
The pioneering women’s healthtech unicorn integrates AI and human-led care to enhance outcomes in maternity, parenting, and menopause. With a strong focus on equitable, accessible healthcare, Maven’s future looks promising as it continues to scale globally and deepen its Medicaid presence.
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