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Thursday, December 7, 2023

Healthtech startup Maven secures $90M to boost women & family’s health

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Women’s and family health tech startup Maven Clinic has secured $90 million in a Series E round of funding. The  round was headed by General Catalyst, raising Maven’s valuation to $1.35 billion.

Maven, a virtual clinic specialized on women’s and family health, announced a $90 million Series E fundraising round on Monday. The money will be used to improve platform personalisation and expand family and reproductive health assistance, according to the business.

This raises Maven’s total financing to $300 million. According to a corporate source, the current fundraising round raises the company’s worth beyond $1 billion.

The financing was headed by General Catalyst, a venture capital firm that has previously invested in many digital health firms. CVS Health Ventures, La Famiglia, and Intermountain Ventures joined Maven, as did existing investors Sequoia, Oak HC/FT, Icon Ventures, Dragoneer Investment Group, and Lux Capital.

Dr. Jennifer Schneider, co-founder and CEO of Homeward, a tech-enabled firm aimed at rural health patients, has joined Maven’s board of directors. Schneider was previously the president of Livongo, a digital health firm.

Maven’s board of directors now includes Yvette Bright, former Chief Operating Officer of Independence Blue Cross, and Chris Klomp, former CEO and Chairman of Collective Medical, a healthcare data firm.

In August, Maven collaborated with Blue Cross Blue Shield of Michigan to create a tailored digital care app to help Blue Cross members navigate family planning, covering multiple pathways to parenting, pregnancy, postpartum, and pediatrics. According to the company, it now has 15 million covered lives, a fivefold increase since its $110 million Series D funding round in August 2021.

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