Women's Health Startup Maven Raises $45M in Series C Round

by Ellen Glover
February 19, 2020
NY-based Maven Raised $45M from celebrity investors for its digital clinic for women and family planning

Maven, a digital health company for women and families, announced Wednesday it raised $45 million in a Series C funding round led by Icon Ventures, with participation from high-profile individual investors including Reese Witherspoon, Natalie Portman, Mindy Kaling and 23andMe CEO Anne Wojcicki. 

This is one of the largest funding rounds for a woman-led women’s and family health company, according to Maven, and brings its total capital raised to $88 million. 

“We believe that women’s and family health is not just a vertical, but the core of a functional health care system,” CEO and founder Kate Ryder said in a statement. “With this latest round of funding, Maven will continue to double down and invest in the long term to drive meaningful, sustained change.”

Maven’s virtual clinic allows users to chat via video or text with a network of more than 1,700 women’s and family health providers across some 20 different specialties, from OB-GYNs to nutritionists. They can also speak with “care advocates” to guide them through family planning programs like egg freezing, adoption and breast milk shipping.

The company also provides a benefits option for employers, health plans and individuals. And its just-launched Maven Wallet tool helps users manage their expenses and receipts so they can be reimbursed via employers' family planning benefits. 

“Maven is addressing critical gaps in care by offering the largest digital health network of women’s and family health providers,” Tom Mawhinney, a lead investor at Icon Ventures who is joining Maven's board of directors, said in a statement. “With its virtual care and services, Maven is changing how global employers support working families by focusing on improving maternal outcomes, reducing medical costs, retaining more women in the workplace, and ultimately supporting every pathway to parenthood.”

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