What You Should Know:
– Maven, a New York City-based virtual health clinic for women and families announced it has raised $110M in Series D funding co-led by Dragoneer Investment Group and Lux Capital, with participation from BOND and existing investors Sequoia, Oak HC/FT, and Icon Ventures. Maven also welcomed Oprah Winfrey as an investor in its Series D round.
– This brings Maven’s total funding to more than $200M at a valuation north of $1B– making them the only unicorn in women’s and family health.
– Maven will use its Series D financing to expand into new populations and to invest in additional product innovation to further enhance its award-winning member experience designed to improve clinical outcomes.
Next-Gen Care for Women and Families
Founded in 2014, Maven is the only platform in the market that combines an expansive, specialized telehealth network of more than 30 provider types with individual care navigation to support all parents and all paths to parenthood, from fertility through pregnancy, parenting and pediatrics. From helping manage high-risk fertility and maternity patients to empowering members to advocate for themselves in a system that has left many parents behind, Maven is on the frontlines of helping families navigate the complexities of family-building.
Since raising its Series C round of funding last year, Maven has significantly increased its client base across employers and payers, partnering with four new Fortune 15 clients including Microsoft, with membership in Maven’s employer and payer-sponsored programs increasing 400%. Even amidst this rapid growth, Maven has achieved a near 100% retention rate among existing clients like Boston Scientific, Booz Allen Hamilton, and L’Oreal. Quality and accessibility have also remained high, with 27-minute average wait times for same-day appointments and a 4.9/5 appointment satisfaction rating across all specialties. Maven’s model has been externally validated to drive better clinical outcomes, including lower NICU admissions and unnecessary c-section rates when compared to national averages.