Women and family health startup Maven raised $45 million in its Series C round, bringing its total funding to more than $87 million.
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Maven provides on-demand access for virtual care, along with services like breast milk shipping and fertility clinic referrals. Its backers include firms like Icon Ventures, which led the Series C round, and Sequoia Capital.
With the new funding, Maven will double-down on growth and roll out new products, CEO Kate Ryder said in an interview with Crunchbase News. The company recently introduced Maven Wallet, a way for users to manage receipts for services like egg freezing, adoption and surrogacy reimbursement. Later this year, the company will roll out Maven Pediatrics, a pediatric service for working parents, Ryder said.
The company, which was founded in 2014 and is based in New York, plans on hiring employees across the board, but especially within engineering and clinical research. Maven has about 110 employees now and plans to end the year with about 200 employees. It also plans on opening up a second office either in the second half of this year, or the first half of next year, Ryder said, though the location is undecided.
Maven last raised money in September 2018, when it landed $27 million for its Series B round, which was led by Oak HC/FT and Sequoia Capital.
The new cash brings Maven’s total funding to more than $87 million, with investors including 23andMe CEO Anne Wojcicki and actresses Mindy Kaling, Reese Witherspoon and Natalie Portman.
Kaling, Witherspoon and Portman invested in Maven for its Series B round, but the company didn’t announce it at the time. The connection to the actresses and investors came through Sequoia–partner Jess Lee is a board member of All Raise, which is connected to the Time’s Up initiative (Witherspoon is a backer).
“I think it is really a collective effort across industries to get more women into leadership positions,” Ryder said.
Since its founding, Maven has helped more than 5 million women and families access care, and has 1,700 providers across 20 different specialties. Maven tripled its client base last year, Ryder said, though she declined to disclose any revenue figures.
Illustration Credit: Li-Anne Dias