The company’s decade-long growth will continue with its recent funding round supporting its innovative approach to healthcare.
In 2014 Maven Clinic Founder Kate Ryder had a vision for improving women’s healthcare. A decade later she announces that the world’s largest virtual clinic for women’s and family health raised a $125 million Series F funding round—supporting its next stage of growth and expansion of services.
Ryder began her career in journalism, graduating from the University of Michigan with a double major in English Literature and political science. She spent approximately 10 years in the field before joining Index Ventures and pivoting to then found Maven. With funding in place, she now looks forward to a new horizon.
“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 CEO Ryder. “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”.
Maven is now in 175 countries with over 2,000 clients including Amazon, Microsoft, AT&T, Morgan Stanley, and L’Oreal. Those companies now provide their employees with a unique global benefit, covering the entire reproductive life cycle on one platform—from preconception and family building to pregnancy, parenting, menopause, and midlife.
Highlights of Maven’s Programs
Maven has made great progress in its programs that are now positioned for further growth.
The Maven Managed Benefit (MMB) is the only fertility and family-building solution to integrate care and coverage in one place. MMB combines the best of a carve-out fertility benefit with virtual care and health coaching. Families have improved outcomes, while employers see cost-savings.
Maven’s performance network of 475+ fertility clinics is integrated with their virtual experience. Members can obtain real-time updates on their benefits and costs on the same platform they receive fertility education and coaching.
Highlights of The Reproductive Life Cycle Programs
The following shows the high performance of the services associated with three key stages of the reproductive life cycle program.
- Maternity & Newborn Care: Over 90% of Maven clients offer Maven’s maternity program. Members receive support from the first trimester through returning to work. Over the past year, Maven’s Maternity & Newborn Care program had more than 400% client growth.
- Parenting & Pediatrics: Initially launched in 2020 to support parents during the COVID-19 pandemic, Maven’s Parenting & Pediatrics program saw its membership double over the last 12 months to more than 3 million lives under management.
- Menopause & Midlife: Maven’s Menopause & Midlife program provides a comprehensive approach to midlife health. Both symptom management and support for healthy aging is provided to both women and men. With 300% year-over-year growth and more than 550 clients, it is the fastest growing global program.
Value-based Maternity Care
Maven’s vision to make quality, equitable healthcare more accessible to everyone is realized in its value-based partnerships in maternity care. Its recent Series F funding will be used to enhance this program that has tripled its Medicaid market presence in two years.
Maven touts its platform that has 20+ touch points per month by Medicaid recipients early and often in their pregnancies. It also has delivered better pregnancy outcomes at a lower cost across diverse populations. Employers and health plans see a 2:1 clinical ROI, and C-section rates have been reduced by 8-20% and NICU admissions by 20-28%.
“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, one of the participants in the latest funding round.
Funding to Support Ongoing Growth
Maven has raised to date more than $425 million, reaching unicorn status. Funding was from top healthcare and technology investors including General Catalyst, Sequoia, Dragoneer Investment Group, Oak HC/FT, StepStone Group, Icon Ventures, and Lux Capital.
Maven will use the capital to further invest in MMB, Maven’s fertility benefits administration platform. It will expand its end-to-end platform that includes virtual care delivery across maternity, parenting and pediatrics, and menopause.
Jason Lee, Chief Product and Operating Officer at Maven Clinic, sums up the company’s place in healthcare.
“Maven is a technology platform and a healthcare company in equal measure. 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 a greater scale…Maven shows up for our members wherever they are in the world or in their health journey.”
