Maven Clinic, the world’s largest virtual clinic for women’s and family health, has announced a $125 million Series F funding round. This investment brings Maven’s total funding to over $425 million and establishes it as the highest valued digital health company in the women’s and family health sector.
The funding round was led by StepStone Group, with participation from existing investors including General Catalyst, Sequoia, Oak HC/FT, Icon Ventures, Dragoneer Investment Group, and Lux Capital.
Kate Ryder, Founder and CEO of Maven Clinic, stated: “Over the last 10 years, Maven has created and scaled a comprehensive virtual care model in one of the most underfunded sectors in healthcare. 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. With each member supported, we continue to prove that to build better healthcare for everyone we must first build it for women and families.”
The capital will be used to scale Maven’s fertility benefits administration platform, Maven Managed Benefit, and expand its end-to-end platform, which covers maternity, parenting and pediatrics, and menopause care. Maven plans to invest in AI technology to enhance personalized care for its members and bolster its value-based offerings across fully-insured and Medicaid populations.
Maven has reported significant growth across its various programs. Its Maternity & Newborn Care program has experienced over 400% client growth in the past year. The Parenting & Pediatrics program has doubled its membership over the last 12 months, now managing over 3 million lives. Maven’s Menopause & Midlife program is the fastest-growing global offering, with 300% year-over-year growth and more than 550 clients, according to the company. Additionally, Maven has tripled its Medicaid market presence since 2022.
Jason Lee, Chief Product and Operating Officer at Maven Clinic, commented: “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 greater scale. From automating administrative functions in our payments product to empowering providers and care coaches to more efficiently influence behavior change and outcomes, Maven shows up for our members wherever they are in the world or in their health journey.”
Maven has become the largest fertility benefits provider globally. Its Maven Managed Benefit platform uniquely combines fertility education and Trying-to-Conceive (TTC) coaching with a performance network of over 475 fertility clinics.
The company reports a 2:1 clinical ROI for employers and health plans, with reductions in C-section rates by 8-20% and NICU admissions by 20-28%.
Seyonne Kang, partner at StepStone Group, commented on the investment: “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. We look forward to seeing Maven continue reimagining healthcare for families in the coming years.”
Maven Clinic currently serves more than 2,000 clients in 175 countries, including major corporations such as Amazon, Microsoft, AT&T, Morgan Stanley, and L’Oreal. As the company moves into its next phase of growth, it seeks to leverage its comprehensive platform and data to drive transformative change in women’s and family health care.
