Maven Clinic, a healthcare startup focused on women’s health, has reached a valuation of $1.7 billion after raising $125 million in its latest funding round, led by private markets investment firm StepStone Group. The funding round also saw participation from existing investors, including General Catalyst, Sequoia, Oak HC/FT, Icon Ventures, Dragoneer Investment Group, and Lux Capital, underscoring growing interest in women’s health from the venture capital community.
As one of the leading women-focused healthcare firms, Maven Clinic addresses an array of healthcare needs for women, including preconception, family building, pregnancy, parenting, and menopause, providing clinical support through its digital platform. The New York-based startup partners with employers and health plans to offer services globally, boasting over 2,000 customers in 175 countries, including high-profile clients like AT&T, Morgan Stanley, and L’Oréal.
Growing Demand for Women’s Health Solutions
The latest funding round highlights the increasing traction that women’s health startups are gaining among investors. This shift is driven by a growing recognition of the unique healthcare challenges women face, particularly the underrepresentation of women’s health in traditional healthcare solutions. A 2023 report from the World Economic Forum and McKinsey Health Institute revealed that women spend 25% more of their lives in debilitating health conditions compared to men, shining a light on the need for targeted healthcare innovations for women.
Women spend 25% more of their lives in debilitating health conditions compared to men.
“Early on, people didn’t understand the size of the sector and how powerful it is. It was clearly one of the great missed opportunities over the last few decades in healthcare innovation,” said Kate Ryder, founder and CEO of Maven Clinic. Ryder emphasised that women and family health represent not only a large and underserved area of healthcare, but also a central one, further driving the demand for specialised services.
Maven's Expansion Plans
Founded in 2014, Maven Clinic has steadily expanded its services, leveraging digital tools to support women’s health throughout various life stages. The company’s platform offers clinical support for preconception, fertility, pregnancy, and parenting, as well as menopause - areas that have historically been underfunded and underserved in traditional healthcare settings.
With this latest round of funding, Maven has raised over $425 million to date. In 2022, Maven raised $90 million in a Series E funding round led by General Catalyst. The company plans to use the latest investment to continue building out Maven Managed Benefit, its fertility benefits administration platform, and to expand services for fully insured and Medicaid populations. This expansion will allow Maven to broaden its offerings, reaching more women who need access to specialised healthcare.
A Growing Sector in Healthcare
Maven’s rise reflects a broader trend of increased attention toward women’s health and family care solutions within the healthcare sector. Startups like Maven are filling gaps in the healthcare system by creating products and services that cater specifically to women’s health needs, offering employers and health plans more robust options to support their employees’ and members’ health.
The growing support from venture capital firms indicates that women’s health is no longer viewed as a niche area, but rather as a critical sector in healthcare innovation. As more companies, from telecom operators to financial institutions, seek to provide better health benefits for their employees, platforms like Maven are well-positioned to meet this demand and drive further advancements in women’s health.
With this significant boost in funding, Maven Clinic aims to lead the way in transforming how women’s health is managed and making comprehensive healthcare solutions accessible to women and families around the world.
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