Kindbody, a health and technology company providing fertility, gynecology and family-building care, raised $32 million in Series B funding to expand its footprint in the United States and internationally through both brick-and-mortar locations and its “Center of Excellence” network of partner clinics, the company said Wednesday in a written statement.
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Perceptive Advisors led the new round of funding with participation from existing investors RRE Ventures, GV and Freemark Capital, and new investors, including Rock Springs Capital, Goodgrower, Claritas Capital and NFP. The Series B brings Kindbody’s total fundraise to $64 million since it was formed in 2018. The company raised its $15 million Series A in 2019.
Kindbody, founded by CEO Gina Bartasi, leverages technology to deliver end-to-end services—costing up to 30 percent less than other fertility benefit programs—from preconception through postpartum, serving as both a provider and network solution. Its offerings include fertility treatments, gynecology, wellness and LGBTQ+ services.
The New York-based company already has a presence in more than 180 Kindbody and Center of Excellence locations.
“You must be in the provision of services—in the actual care delivery business—to effectuate change in member experience, outcomes and costs. Sophisticated employers know this and are helping to drive change, utilizing their buying power to control costs,” said Bartasi in a written statement. “The funds allow us to scale the infrastructure, in terms of people and process, required to execute on large accounts, and we’re adding depth to our outstanding team at almost every level.”
Fertility and reproductive health is one of the areas in which we have seen investment dollars flow recently. In November 2019, we reported on Kindbody, Dadi and Natalist, all companies in the space that were raising funds. In May, we reported on Peanut, a London-based social network for women, which raised a $12 million Series A, as well as an article on Tia raising a $24 million Series A and Stork Club securing a $2.7 million seed round.
Ellen Hukkelhoven, managing director of Perceptive Advisors, said in a written statement that the firm has followed Bartasi’s career and sees her ability to grow Kindbody, especially during the global pandemic.
“June’s patient volume is up 30 percent from pre-Covid levels—which speaks to the resilience of the business, and the interest from employers, which we see as a huge opportunity going forward,” she said.
Illustration: Li-Anne Dias