February 19, 2020
Maven, the leading women's and family digital health company, today announced it has closed $45 million in Series C funding, led by Icon Ventures, with participation from existing investors Sequoia, Oak HC/FT, Spring Mountain Capital, Female Founders Fund, Harmony Partners, and individual strategic investors Reese Witherspoon, Natalie Portman, Mindy Kaling, and Anne Wojcicki.
Over the last twelve months, Maven has expanded rapidly, driven by adoption of its family benefits platform among individuals, employers, and health plans seeking better solutions for women's health, family planning, and diversity in the workforce. The latest round of funding will be used to support Maven's growth, deepen investment in its core digital programs across fertility, maternity, return-to-work, and pediatrics and expand into adjacent areas.
"Maven is addressing critical gaps in care by offering the largest digital health network of women's and family health providers," said Tom Mawhinney, lead investor from Icon Ventures, who will join the Maven board of directors. "With its virtual care and services, Maven is changing how global employers support working families by focusing on improving maternal outcomes, reducing medical costs, retaining more women in the workplace, and ultimately supporting every pathway to parenthood."
This past year, Maven's client base tripled driven by partnerships with clients from over 100 companies globally, across the Fortune 50 and representing every industry. Maven's women's and family telehealth network expanded to include 1,700 providers across more than 20 specialties, filling in critical gaps in a broken healthcare system. With the recent launch of Maven Wallet—a new feature designed to help members better manage receipts and expenses associated with fertility, egg freezing, adoption, and surrogacy reimbursement—Maven is the only end-to-end care solution for the entire family journey.
"We believe that women's and family health is not just a vertical, but the core of a functional healthcare system," said Kate Ryder, Founder & CEO, Maven. "With this latest round of funding, Maven will continue to double down and invest in the long term to drive meaningful, sustained change."
Maven is the leading women's and family healthcare company, disrupting how the market and employers are approaching healthcare for working families. By offering high-tech and high-touch support through Maven's award-winning platform, global companies are able to attract and retain talent while improving the health and economic outcomes of their employees.
Named one of Fast Company's "10 Most Innovative Healthcare Companies," Maven advances women's health, family planning, and diversity in the workforce by empowering parents to plan or start a family while growing their careers. Maven offers three core elements of quality healthcare through their virtual clinic: Care Advocates who advocate for members throughout their experience, on-demand access to the largest custom network of women's and family health providers in over 20 specialties via video chat or messaging and a community of providers offering information, expert support and resources. Maven's custom programs support every path to parenthood including: egg freezing, fertility, pregnancy, postpartum, pediatrics, adoption, surrogacy, return-to-work, breast milk shipping, and reimbursement management.
Founded in 2014 by Katherine Ryder, Maven has raised $88MM, and is backed by Icon Ventures, Sequoia Capital, Oak HC/FT, Spring Mountain Capital, 14W, 8VC, The Box Group, and Female Founders Fund, among others. Learn more at www.mavenclinic.com.