Maven Clinic Raises $110 Million for Virtual Care Platform

Maternal and family virtual care platform Maven Clinic announced the close of its $110 million Series D funding round that vaults the company at more than $1 billion.

Dragoneer Investment Group and Lux Capital co-led the round with BOND and existing investors Sequoia, Oak HC/FT, and Icon Ventures. Oprah Winfrey also participated as an investor in the Series D round. The Series D round brings Maven’s total funding to more than $200 million.

Maven Clinic plans to use the latest financing to expand into new populations and invest in additional product innovation to enhance its member experience designed to improve clinical outcomes.

Maven offers a virtual clinic platform for women’s and family health. The platform provides care for fertility, pregnancy, and parenting. Founded in 2014, Maven has supported more than 10 million women and families to date.

Maven’s client base includes employers and payers, including Microsoft, Boston Scientific, Booz Allen Hamilton, and L’Oreal.

Eric Jones, a partner at Dragoneer Investment Group, who is joining Maven’s Board of Directors, said: “Maven’s model, coupling technology with clinical providers, is powerful in providing the right care at the right time, and changing the way we think about care delivery. The high utilization and engagement on Maven’s platform speak to the pressing need Maven solves. We’ve never seen such outstanding ‘customer love,’ especially in healthcare. We are excited to partner with Kate and her team as they continue to change the face of women’s health and family care.”

Telehealth companies raised a record $5 billion in 1H 2021, a 150% increase year-over-year compared to $2 billion raised in 1H 2020.

This was the highest amount received by any digital health category since 2010, according to the recently released Mercom’s 1H 2021 Digital Health Funding and M&A Report.