Women’s health and fertility startup Kindbody announced Thursday it raised $32 million in Series B funding. This closing is on the heels of a $10 million round the company announced just six months ago, bringing its total money raised to $64 million.
Kindbody is both a healthcare provider and network solution, offering a range of fertility services from preconception to postpartum. The company covers fertility treatments like IVF and egg freezing, gynecology support, and services specifically for the LGBTQ+ community.
Based out of NYC, Kindbody uses its proprietary technology to provide care both digitally and at its more than 180 Kindbody and “Center of Excellence” network partner locations around the country. The company also works with employers as a full-service benefits solution so they can provide affordable, accessible care to employees, claiming its pricing can be up to 30 percent less than other similar programs.
“The problem with fertility and IVF treatment is that, historically, it’s been really only for people with huge disposable income, for the 1 percent,” founder and CEO Gina Bartasi told Built In. “We think, morally, that’s wrong. We think that everyone — Black, white, brown, gay, straight, trans — should have access to fertility care. The only fundamental way to do that is to bring cost down so that it’s accessible for all.”
Fertility and women’s health in general is a sector that has seen a rising number of players over the years. And it’s an area that has been getting a fair amount of attention lately, with companies like Tia and Maven raising tens of millions of dollars this year alone.
Kindbody has also seen its usership increase, even in the midst of the pandemic. In fact, Bartasi says June’s patient volume was up 30 percent from pre-COVID levels. Patient satisfaction has improved too.
“It’s actually higher through this pandemic than even before. That’s really because we have built the company around the member experience. We prioritize the patient,” Bartasi said. “[Our success] proves that fertility is recession resistant.... What the recession does is it makes everyone — the consumer, the patient, as well as the employer — more price sensitive. So we think the recession actually favors companies like Kindbody, who have priced their services in the more affordable range to really increase access to care.”
To keep up with growing demand, the company is expanding its team, with open positions across its clinical, product and operational departments.
Kindbody’s latest funding round was led by Perceptive Advisors, with participation from existing investors RRE, Freemark Capital and GV (formerly known as Google Ventures). In addition to hiring, the company will use the money to expand its national footprint and build an international presence, with Europe and parts of Asia being top of mind, according to Bartasi.