What You Should Know:
– Maven Clinic, the largest virtual clinic in women’s and family health, today announced that it has raised a $90 million Series E funding round led by General Catalyst, with participation from CVS Health Ventures, La Famiglia, and Intermountain Ventures, as well as existing investors Sequoia, Oak HC/FT, Icon Ventures, Dragoneer Investment Group, and Lux Capital. This brings Maven’s total funding to $300 million and highlights the growing demand for women’s and family health services globally.
– Maven plans to use the latest round of funding to advance its end-to-end family care platform to enable deeper personalization to meet the diverse needs of women and families everywhere.
Maven Background
Maven’s mission, grounded in bringing equitable access to care to women and families around the world, has never been more critical. With almost one-third of US women of reproductive age living in states with restrictions on access to abortion, 15% of reproductive-age couples globally experiencing infertility, and nearly one-in-three women saying they have taken sick days for their menopause symptoms, the need for greater access to quality care has become even more urgent.
Combining integrated benefit coverage and continuous virtual care delivery, Maven partners with employers and health plans to deliver inclusive family benefit design, promote health equity, reduce costs of care, attract and retain talent, and improve clinical outcomes. Maven’s technology platform offers 24/7 virtual care, easy financial reimbursement, peer communities, and concierge support to members across 175 countries.
Maven’s Recent Milestones
Maven’s recent milestones include:
– Reaching 15 million lives under management, a 5x increase since Maven’s Series D round of funding
– Supporting half of the Fortune 15, including AT&T and Microsoft, and leading national and regional payers with Maven’s award-winning family benefits platform
– Tripling covered lives outside of the United States, with 60% of all multinational clients using Maven to support their employees around the world
– Achieving 5x growth of Maven Wallet over the past year, providing financial support for family building, reproductive health, and new parent benefits
– Delivering continuous care for members, with 95% of new clients offering two or more Maven programs to their employees
– Improving clinical outcomes, including 25% of fertility members achieving pregnancy without assisted reproductive technology, and up to 28% reduction in NICU admissions
– Achieving industry-leading levels of engagement, with 60-80% of addressable members in commercial populations enrolling in the platform, and an average of 17 touch points per member per month with Maven’s clinical resources, communities, care advocates, and specialists
– Launching a Menopause and Ongoing Care Program with 1.2 million lives covered across 150 employer clients within 6 weeks of product launch
– Expanding pregnancy options capabilities and Maven Wallet support for out-of-state travel for reproductive health services, including abortion
