Fertility and family-building comapny Kindbody has announced a $62 million Series C earlier today. The round was led by Theresa Sexton, Managing Partner of Claritas Health Ventures, who now joins the Board of Directors, and includes new investment groups Bramalea Partners, Monashee Investment Management, and Eldridge, along with participating existing investors including GV (formerly Google Ventures), Perceptive Advisors, RRE Ventures, and Rock Springs Capital.
This latest funding comes less than a year after Kindbody announced its Series B, bringing the total capital raised to $122 million, and a company valuation of $612 million. Kindbody was founded in 2018 by seasoned healthtech and fertility entrepreneur, Gina Bartasi, who previously served as the Founder and CEO of Progyny.
“Kindbody’s revolutionary, high-demand model will drive meaningful change to the way fertility care is delivered in the US and abroad,” Sexton commented. “The company’s vision for reducing barriers to care, expanding access, championing diversity, and delivering superior outcomes aligns directly with our mission at Claritas Health Ventures.”
The fresh funding will help accelerate the company’s growth to meet increasing demand from enterprise employers, enhance its proprietary technology, and expand access to its partner, signature, and mobile clinics. In addition to direct patient care, Kindbody offers a seamless fertility benefit solution to employers seeking cost transparency and a more intuitive platform to replace the traditional systems of telephone tag. Kindbody’s proprietary portal and electronic medical record platform enables machine-learning to improve patient outcomes by reducing variable decision making amongst providers.
Kindbody estimates that demand for fertility and family-planning services is dramatically underserved today due to prohibitive costs, disparities in insurance coverage, and lack of compassionate and inclusive care. The company’s mission is to open its doors to this population, broadening access and democratizing the ability for anyone to build the family of their dreams, in whatever path they choose.
“We’re grateful to have the support of Claritas and our new investors, who along with our existing investors, share our desire to expand access for all by completely reinventing the patient journey with technology and personalized care at affordable rates through every life stage,” said Bartasi. “Creating change in healthcare is hard, time-consuming and expensive to do right. We are fortunate to have a committed group of investors who see the opportunity to disrupt a market in desperate need of innovation the way we do.”
Kindbody’s combination of technology-enabled patient support, award-winning clinic experience, and value-based care model leads to reduced costs of more than 20% compared to other fertility benefit managers. Kindbody’s suite of offerings covers the full span of fertility services including egg freezing, IVF, IUI, egg and sperm donation, adoption and surrogacy, and maternity care, to ongoing gynecology and holistic wellness, to local and virtual events supporting community education and LGBTQ+ inclusivity.