New York-based Maven, a digital women’s health clinic, has raised $10.eight million in a Series A financing spherical that brings the corporate’s complete funding to greater than $15 million, the corporate introduced Tuesday. The spherical was led by Spring Mountain Capital with participation from 14W, DGNL, and Colle Capital.
All present buyers, together with 8VC, Great Oaks Venture Capital, The Box Group, and Female Founders Fund, participated within the spherical. Spring Mountain Capital’s Lauren Breuggen is becoming a member of Maven’s board of administrators, alongside Maven-appointed Rachel Winokur, chief enterprise officer of Bright Health and veteran of Aetna.
“We look to invest in companies and founders that are creating paradigm shifts in their markets,” stated Brueggen. “We believe that Maven’s digital care network and focus on women as healthcare consumers is creating such a paradigm shift, fundamentally changing the way that women’s healthcare is delivered.”
Maven presents healthcare to women and households via its digital care platform, and since launching in 2015 has served almost 100,000 sufferers by way of its community of greater than 1,000 practitioners. Patients can e-book video appointments or ship messages to a slew of maternity and women’s health practitioners, together with OB-GYNs, midwives, therapists, and nutritionists. They’re out there to supply recommendation and write prescriptions across the clock, together with nights and weekends.
Maven operates an on-demand shopper market along with its household advantages platform, Maven Maternity. Maven Maternity, utilized at quite a lot of corporations throughout the US — together with Snap Inc. and Protective Life Corporation — provides a medical program that helps new mother and father from conception via being pregnant, postpartum, and the transition again to work.
“Maternity is often the number one or number two healthcare cost for self-insured employers, yet is not well-served by current solutions,” stated Kate Ryder, founder and CEO of Maven. “Further, while 96 percent of expecting mothers say that they are excited to go back to work after giving birth, fewer than 60 percent remain in the workforce after the first year. Our platform helps companies improve employee retention, satisfaction and productivity, while reducing maternity-related costs by zeroing in on C-Section rates and rates of preterm birth.”
This new spherical of funding allows Maven to proceed to spend money on Maven Maternity, with larger personalization and content material for every member’s consumer expertise — whether or not it is fertility help, being pregnant, postpartum, adoption, surrogacy, or loss. It may also permit Maven to construct extra instruments to help its mannequin of coordinated care throughout its practitioner community.
“The healthcare system requires urgent reform,” stated Ryder. “Often lost in the discussion, however, is that reform will almost certainly need to come from women. Women, as consumers of healthcare, drive 80 percent of all healthcare decisions and make up 80 percent of all healthcare providers. And yet, amazingly, it is the female voice that is too commonly lost in this debate. At the highest level, this is what Maven intends to change.”