Maven Clinic, a global pioneer in virtual healthcare services for women and families, recently closed a significant Series F funding round, securing $125 million. The round was led by StepStone Group, with participation from previous backers such as General Catalyst, Sequoia, Oak HC/FT, Icon Ventures, Dragoneer Investment Group, and Lux Capital. This latest investment pushes Maven’s total funding beyond $425 million, empowering the company to further expand its fertility benefits management and virtual care delivery systems.
A report from Axios noted that this funding round elevated Maven Clinic’s valuation to an impressive $1.7 billion, according to sources familiar with the transaction.
“For the past ten years, Maven Clinic has continuously challenged preconceived notions, demonstrating that healthcare for women can be both intuitive and technology-first,” stated Seyonne Kang, partner at StepStone Group, in a press release. “We are excited to witness Maven’s continued innovation in healthcare for families.”
Maven’s founder and CEO, Kate Ryder, attributes the successful funding round not only to the company’s business growth but also to the platform’s focus on addressing core needs in women’s health. Ryder emphasized that despite challenging market conditions, the company’s commitment to women’s health and its tech-driven solutions resonated strongly with investors. “Ultimately, investors are drawn to platform-based strategies in key areas of digital health, especially women’s healthcare,” Ryder shared in an interview with Fierce Healthcare.
Maven has seen exponential growth in its Maternity & Newborn Care program over the past year, with a 400% surge in client engagement. This program, offered by more than 90% of Maven’s clients, provides critical services like care matching, virtual doula assistance, and screenings for social determinants of health. With part of the new funding, Maven plans to incorporate AI technology to further personalize care delivery. Ryder described this integration of AI as a transformative step for an industry that is ripe for innovation.
Beyond maternity care, Maven aims to expand its value-based care offerings, particularly for Medicaid and commercial populations. Over the last year, the company has tripled its footprint in the Medicaid sector, offering pregnant members over 20 touchpoints per month through the Maven platform. The organization is currently involved in partial risk contracts and plans to increase its exposure to full-risk models as it drives better health outcomes.
“Value-based care is shifting towards full-risk contracts, where our payment is tied to the outcomes we generate,” Ryder explained. She also highlighted the pivotal role virtual care plays in engaging patients, which is essential for managing at-risk contracts. “Engagement is key. Without patient follow-through, it’s impossible to deliver the outcomes needed to succeed in this model,” she added.
Maven’s fastest-growing global initiative is its Menopause & Midlife program, designed to support healthy aging. The program has experienced a 300% year-over-year increase in participation, with over 550 clients now offering the service to their employees. This program caters to both men and women, addressing an area of health that has long been underrepresented in the healthcare industry. Ryder remarked that menopause care has often been overlooked, particularly in the Medicaid space, where there are currently no clear reimbursement models.
With its comprehensive platform, Maven covers the entire reproductive life cycle, offering services that range from family building and preconception to pregnancy, parenting, and midlife care. Currently, the company serves over 2,000 clients in 175 countries, including major corporations like Amazon, Microsoft, AT&T, Morgan Stanley, and L’Oréal, setting the standard for a holistic approach to women’s health on a global scale. The company continues to break new ground, proving that tech-driven, personalized care can be the future of healthcare for families worldwide.
