Maven Clinic, a women’s health startup, has closed a funding round that values the company at $1.7 billion. The company announced Tuesday that it raised $125 million in a Series F funding round led by StepStone Group. Existing investors General Catalyst, Sequoia, Oak HC/FT, Icon Ventures, Dragoneer Investment Group, and Lux Capital also participated in the round.
Founded in 2014, Maven Clinic has developed a comprehensive virtual care model in the women’s and family health sector. The company offers global benefits covering the entire reproductive life cycle on one platform, from preconception and family building to pregnancy, parenting, menopause, and midlife. More than 2,000 clients in 175 countries, including Amazon, Microsoft, AT&T, Morgan Stanley, and L’Oreal, trust Maven to support their employees.
The new funds will bolster Maven’s end-to-end platform, particularly its fertility and family building programs, positioning it as the largest fertility benefits provider globally. The company will also use the capital to enhance its Maven Managed Benefit, the fertility benefits administration platform, and reinforce its end-to-end virtual care delivery, encompassing maternity, parenting, pediatrics, and menopause. Maven’s spokesperson, Ryder, mentioned that the company is open to sharing data and insights on policy, regardless of which administration wins in the upcoming election between Vice President Kamala Harris and former President Donald Trump.
This willingness to engage with policymakers highlights the company’s commitment to advancing women’s health issues.
Maven’s growth through Series F funding
The company’s Maternity & Newborn Care program supports members from the first trimester through returning to work, featuring care matching based on cultural affinity, on-demand virtual doula care, and robust perinatal mental health screening.
With industry-leading engagement, Maven has published 15 peer-reviewed studies demonstrating better outcomes and cost savings. Maven’s Parenting & Pediatrics program, launched during the COVID-19 pandemic, supports specialty pediatric care and complex learning and behavioral challenges. It has doubled in membership in the past 12 months, now managing over 3 million lives.
The Menopause & Midlife program addresses the diverse needs of those in midlife health transitions, offering comprehensive symptom management and support for aging, sexual wellness, mental health, and career satisfaction, reflecting 300% year-over-year growth. The company’s Chief Product and Operating Officer stated, “Maven Clinic is both a healthcare company and a cutting-edge technology platform. We leverage years of data to drive outcomes and scale our efforts through artificial intelligence, showing up for our members wherever they are in their health journey.
Maven will use the Series F funding to enhance value-based maternity care partnerships, aiming to make quality healthcare more accessible and equitable.
Since 2022, Maven has expanded its Medicaid market presence threefold and demonstrated significant engagement and better pregnancy outcomes at lower costs for diverse populations. Seyonne Kang, partner at StepStone Group, said, “Maven Clinic has consistently shown that women’s healthcare can be intuitive, technology-first, and high-quality. We look forward to seeing Maven continue reimagining healthcare for families.”
