Maven Clinic Secures $27 Million in Series B Funding to Expand Family Benefits Platform

VCBeat (WeChat: vcbeat) has learned that on September 26, Maven Clinic, a women’s health telemedicine platform headquartered in New York, announced the closing of a $27 million Series B financing round. The round was led by Sequoia Capital and Oak HC/FT, with participation from existing investors Spring Mountain Capital, 14W, and Female Founders Fund. As part of this investment, Jess Lee, Partner at Sequoia Capital, and Nancy Brown, Partner at Oak HC/FT, each secured a seat on Maven Clinic’s Board of Directors.

Maven Clinic plans to use these funds to optimize its flagship product—the Family Benefits Platform. This platform supports working mothers and new parents through all stages of care, from conception and pregnancy to returning to the workplace and beyond. Currently, employers such as Snap, Cleary, Protective Life, and Bumble offer this platform to their employees to assist with their personal lives.

To date, the company has completed four rounds of financing, raising a total of $42.3 million. Maven Clinic’s ability to secure investor support and favor is closely tied to its high-quality products and large customer base.

Maven operates a large digital network of vetted health service providers dedicated to serving women and families. These providers include obstetricians and gynecologists, women’s health physical therapists, and career coaches, allowing users to access services on demand.

Maven partners with companies worldwide, growing its user base from an initial 200 to over 200,000 today, and providing care to more than 150,000 patients.

The company also announced that it would expand its care support for mothers returning to the workplace by launching a breast milk transportation service. Combined with the company’s existing healthcare platform, the new service will provide working parents with a range of care support as they return to work.

Maven Clinic, founded by Katherine Ryder in 2014 and headquartered in New York City, provides online healthcare services for women’s health to individuals and corporate employees through telemedicine, with a particular focus on meeting the needs of women during pregnancy and childbirth.

Maven Clinic operates an on-demand digital care clinic that provides support to mothers and their families during preconception, pregnancy, and the postpartum period. Through its proprietary network of women’s and family health practitioners and its family benefits platform, users can schedule video consultations and send private messages. Specifically, similar to other telehealth networks, users can message healthcare professionals specializing in women’s health or directly book video appointments via the Maven Clinic website or mobile app. These providers—including obstetricians/gynecologists, midwives, physical therapists, and nutritionists—offer round-the-clock advice and can issue online prescriptions.

Maven Clinic’s services include tracking for in vitro fertilization (IVF) and egg freezing, pregnancy, postpartum care, family building, adoption, surrogacy, and loss, as well as career guidance and support, and personalized training for human resources managers. Consequently, the company’s clientele encompasses individuals, employers, and healthcare professionals.

Sequoia Capital was founded in Silicon Valley, United States, in 1972. Sequoia Capital is committed to helping entrepreneurs build enduring great companies by bringing global resources and historical expertise to its portfolio companies. As the first institutional investor, Sequoia invested in numerous innovative companies such as Apple, Google, Cisco, Oracle, Yahoo, and LinkedIn. Sequoia Capital operates localized funds in three countries: the United States, China, and India.

Oak HC/FT, a venture capital firm spun out from the investment giant Oak Investment Partners, was established in 2014 and primarily focuses on early-stage growth companies in the healthcare and fintech sectors. In healthcare, Oak HC/FT targets companies that create value through cost containment, quality improvement, and enhanced patient care and satisfaction. In fintech, the firm favors payment companies, data companies, and service solution providers capable of improving efficiency, reducing costs, and mitigating fraud.