Maven Clinic announced Monday that it raised $90 million, boosting its total funding to $300 million. Coming less than five months after the U.S. Supreme Court overturned Roe v. Wade, Maven founder and CEO Kate Ryder wrote in a blog post that this was the first time she didn’t have to convince investors about the need for her reproductive and family healthcare platform.
“Gaps in access to global fertility and family building care are front and center for employers, payers and even governments,” she wrote. “The overturning of Roe v. Wade created additional inequities in a system already riddled with them, in a country where 50 percent of counties don’t have an OB-GYN and where maternal mortality rates surpass those of all other developed countries. Maven’s platform supports members and clients navigating these issues and many more.”
Led by General Catalyst, the recent Series E round comes about 15 months after Maven raised a $110 million Series D. Maven was already a unicorn after last year’s capital raise, but Ryder wrote that this most recent round valued the company at $1.35 billion.
Maven’s platform provides users with on-demand virtual care specializing in fertility, maternity, parenting, pediatrics and menopause. The platform has more than 30 types of providers, such as fertility specialists, adoption coaches and doulas.
“At Maven, we have reimagined the care model to address the complex needs of women and families in a global system that was not designed for them,” Ryder said in a statement. “Whether it’s a pregnant woman faced with access issues in rural America, working parents in India needing financial support and navigation for infertility treatment, a same-sex couple facing bias in the opaque surrogacy industry or a senior executive unable to get support for menopause, our platform shows up reliably, affordably and relentlessly focused on patient outcomes.”
Since its Series D round in 2021, Maven has quintupled its user base, with “15 million lives under management,” according to a company statement. Maven has more than 450 clients and members in more than 175 countries. Half of the Fortune 15, including Microsoft and AT&T, offer Maven’s virtual health services to their employees.
The company has also quintupled its Maven Wallet platform, which provides financial support for family building, reproductive health and new parent benefits.
Maven also provides travel reimbursement benefits and pregnancy options counseling, which can help women travel for abortion services in the wake of the Roe v. Wade reversal.
NYC-based Maven plans to use its fresh funding to better serve the diverse needs of its users. The company said it plans to expand to serve Medicaid patients while also localizing resources to meet the “cultural and country-specific needs of its global members.”
Maven currently has 475 employees on its team and plans to grow its employee headcount by around 20 percent next year. The company is actively hiring for 36 open positions on Built In.
