At a time when the world is advancing in medical technologies, reproductive healthcare continues to be largely ignored in the conversation. The science and medicine around fertility are presented with an air of complexity that often leaves patients feeling lost, scared and alone. New York-based Kindbody is one of the few companies in the space that is tackling the behemoth of a challenge.
The tech-enabled fertility clinic network and fully virtual care facility provider and family-building benefits provider for employers, has raised $100 million in capital from US-based Perceptive Advisors, a leading life sciences investment firm, to support future company growth. This brings Kindbody’s total equity and debt funding to more than $290 million, and its valuation to $1.8 billion. Also, it solidifies the company’s position as the largest women-owned fertility companies serving employers and consumers.
Kindbody will use the funds to continue to execute its vision of affordable and accessible fertility care, by adding new clinics in underserved US markets and by investing in operations to further enhance its care model which is designed to deliver industry-leading clinical outcomes.
“Infertility is widespread, more common than diseases like cancer or diabetes. Yet, for far too long, high-quality fertility care has been available to only a privileged few,” said Gina Bartasi, Founder and Chairwoman of Kindbody. “With the support of Perceptive Advisors, and our other investors, Kindbody is positioned to deliver on our vision to help everyone realize their dream of becoming a parent by making high-quality fertility care affordable and accessible for all.”
“This team is unstoppable in their vision to reinvent fertility healthcare,” said Sam Chawla, Portfolio Manager at Perceptive. “Kindbody’s differentiated care delivery model, focused on exceptional patient experience and outcomes at a reduced cost for employers and patients, positions it to meet the urgent need for better fertility healthcare solutions, making Kindbody an attractive opportunity for us.”
Transforms the way we approach fertility
Kindbody is the brainchild of a serial woman entrepreneur, Gina Bartasi. Before establishing this company in 2018, she founded Fertility Authority renamed Progyny. After her own fertility journey, she understood how broken and antagonistic the system is and started Kindbody with an eye toward inclusivity, holistic care and reducing the friction in the patient process.
Kindbody is a family-building benefits provider that owns and operates fertility clinics saving employers 25%-30% by contracting directly with them to provide comprehensive virtual and in-person care to their employees. As the direct provider of clinical care, the unicorn is uniquely positioned to provide a seamless continuum of care, decrease cost, improve patient experience, and deliver better health outcomes.
In 2022, the company added 42 large employer clients, including Walmart, and today is the fertility benefits provider for 112 companies, covering more than 2.4 million lives. Owning and operating 31 clinics nationwide, it plans to open ten new clinics in 2023 in underserved markets with the greatest demand for affordable, high-quality fertility healthcare.