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Maternal health startup Maven Clinic raises $110M funding, becomes a unicorn

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US-based Maven Clinic is the largest virtual clinic for women’s and family health. It has now secured $110 million in a Series D funding round, which was co-led by Dragoneer Investment Group and Lux Capital along with participation from BOND and existing investors Sequoia, Oak HC/FT, and Icon Ventures. Also, Oprah Winfrey has joined as a new investor. 

The round brings the total funding raised by Maven to over $200 million.

Maven announced that it will use the funds to expand into new populations and invest in product innovation to enhance its award-winning member experience designed to improve clinical outcomes.

The latest investment comes after Maven witnessed rapid growth. It completed the Series C funding round last year, which significantly helped Maven increase its client base.

Specialized virtual clinic

Founded in 2014 by CEO Kate Ryder, the startup is committed to assiting every member’s individual needs and has established a new standard for family care, focused on the patient-first principles of access, equity, and personalization. 

Maven is currently the only platform in the market combining a comprehensive, functional telehealth system of more than 30 providers with individual care navigation to support all parents and paths to parenthood, from fertility through pregnancy, parenting, and paediatrics.

Maven’s compassionate Care Advocates help members navigate the complexities of the family-building journey. They assist in various services, from leading high-risk fertility and maternity patients to making sure a seamless integration with existing benefits to empowering members to advocate for themselves in a system that has left many parents behind.

Maven Clinic has achieved a near 100 percent retention rate among existing clients like Boston Scientific, Booz Allen Hamilton, and L’Oreal. It has exhibited a 27-minute average wait time for same-day appointments and a 4.9/5 appointment satisfaction rating across all specialties. Its model has been externally validated to drive better clinical outcomes, including lower NICU admissions and unnecessary c-section rates than the respective national averages.

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