Maven Clinic Obtains Unicorn Status
Women’s and family health company Maven Clinic is the first company of its sector to reach unicorn valuation. The corporation was able to do so after raising $110 million in a Series D round, thanks to investors such as Oprah Winfrey and Icon Ventures.
The future of women’s and family health looks very bright, in part thanks to Maven Clinic. The telemedicine company is the first within its sector of women’s and family health to reach unicorn status in the United States, as reported by Fortune.
Maven Clinic raised $110 million in a Series D funding round. Joining the round was none other than Oprah Winfrey, along with The Bond firm. Icon Ventures, Sequoia and Oak HC/FT, which are all pre-existing Maven investors, were also in attendance for the round.
The total funding that Maven Clinic has received so far is more than $200 million.
Amid the historical news, Maven Clinic CEO and Founder Kate Ryder told Fortune that next steps for the company would be “personalizing the patient journey in all of its complexity and diversity.”
“Right now the majority of our business is commercial – we work with employers, we work with health plans,” said Ryder. “Half the births in this country are on Medicaid plans, so if you are lower income, working hourly jobs for a living wage, what does your health care look like? That patient journey is just different. We will continue to build for that.”
Aside from Winfrey, Maven Clinic’s vision for providing optimal fertility, parenting and pregnancy assistance for women and families has attracted other celebrity backers in the past.
For its Series C round in 2020, Maven Clinic gained financial backing from Mindy Kaling, Reese Witherspoon, Natalie Portman and 23 and Me CEO Anne Wojcicki.
Maven Clinic was founded in 2014 by Ryder as a means to create “a new kind of family care.” Each maternity health plan offers clients the best solutions for their personal healthcare needs as an expectant mother, from the beginning stages of pregnancy to parenting and upon heading back into the workforce. The health plans are offered via self-insured employers.
“Women drive 80% of healthcare decisions in the U.S. and disproportionately control household spending,” said Ryder on “The Pulse by Wharton Digital Health” podcast. “So I thought, wouldn’t it be great to build a more equitable healthcare model for women and families while creating a huge business in the process?”
