Maven Clinic

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Maven Clinic
TypePrivate
IndustryHealthcare
Founded2014
FounderKatherine "Kate" Ryder[1]
Headquarters160 Varick St, 6th Floor, New York, NY 10013[2]
Key people
Katherine "Kate" Ryder, CEO[1]
Neel Shah, Chief Medical Officer[3]
ProductsWomen's and family healthcare services
Websitemavenclinic.com

Maven Clinic is a privately held New York, NY company that offers a telemedicine-based virtual clinic for women's and family health. Founded in 2014, the company offers fertility, adoption, surrogacy, pregnancy, parenting and pediatric services.[4]

In August 2021, the company became the first unicorn in the women's and family health sector, after a Series D funding round valued the company at over $1 billion.[5]

History[]

Maven Clinic was founded in 2014 by Katherine "Kate" Ryder, a former business journalist writing for The Economist and The New Yorker.[6] Ryder identified an opportunity in the digital health market to address women's and family health care needs.[1]

In April 2015, Maven was launched out of beta as an app for people to video chat with a range of doctors specializing in women's and family health.[7] The company's focus later expanded from working with individuals to helping employers and health plans support the health needs of those starting and raising a family.[1]

In July 2017, Maven Clinic raised $10.8 million in a Series A, led by investment firm Spring Mountain Capital, with participation from investment firm 14W and other investors including 8VC, The Box Group, and Female Founders Fund.[8]

In September 2019, the company closed a $27 million Series B funding round, co-led by Oak Investment Partners spinoff Oak HC/FT, and Sequoia Capital, with participation from existing investors Spring Mountain Capital, 14W, and Female Founders Fund.[9]

In February 2020, the company closed a $45 million Series C funding round, led by investment company Icon Ventures. Celebrity investors included Natalie Portman, Reese Witherspoon, and Mindy Kaling, and 23andMe CEO Anne Wojcicki also participated in the round.[10] Also in February, the company launched Maven Wallet, an app for calculating and managing the costs of fertility and other reproductive health treatments and services.[11] By March, when Fast Company named Maven Clinic as the #1 most innovative health company of 2020, the company's services were being offered as an employee benefit in organizations including L'Oreal, and Snap Inc.[12][13] In June, the company acquired the parent child relationship app Bright Parenting, to be part of its pediatrics and parenting services under development at the time.[14] In September, CEO Ryder was named to Fortune's 40 under 40 list, for her work leading Maven Clinic.[10]

In March 2021, the company launched MavenRx, which offers access to fertility medications at a discount and expedited shipping through pharmacy partnerships.[15] In July, the company hired physician and Harvard assistant professor Dr. Neel Shah as its first Chief Medical Officer.[3] In August, the company raised $110 million in Series D funding, a round co-led by investment firms Dragoneer Investment Group and Lux Capital, with participation from earlier investors and celebrity investor Oprah Winfrey.[5] The funding reportedly valued the company at over $1 billion, making it the first unicorn in the women's and family health sector.[5]

Services[]

Maven Clinic offers a virtual clinic focused on women’s and family health that is primarily offered as an employee benefit.[12] Through its network, the company connects people with women's and family healthcare specialists including ob-gyns, nutritionists, mental health providers, doulas, egg donor consultants, fertility awareness educators and lactation consultants.[12][16][17] The company also provides fertility benefits such as egg freezing, IVF, and genetic counseling, along with Maven Wallet, an app that helps patients manage payments and reimbursements for the fertility services, and MavenRx, which offers members access to fertility medications at a discount and expedited shipping through pharmacy partnerships.[12][15] The company also offers Maven Maternity, a program offering pregnancy, postpartum and return to work support, such as domestic and international breast milk shipping and childcare guides, for women returning to the workforce after giving birth.[18][19]

Operations[]

Maven Clinic is headquartered in New York City.[2] Its founder Katherine Ryder serves as CEO. As of 2019, the company's board consisted primarily of women.[1]

References[]

  1. ^ a b c d e "40 Under 40". Crain's New York. March 25, 2019. Retrieved October 14, 2021.
  2. ^ a b "Manhattan office leasing strongest since January 2020". Crain's New York Business. September 1, 2021. Retrieved October 14, 2021.
  3. ^ a b "In a new role at health tech startup Maven, Neel Shah wants to make sure pregnant people aren't 'lost'". Stat. July 1, 2021. Retrieved October 14, 2021.
  4. ^ "Maven Clinic nabs $110M funding round and a boost from Oprah to reach unicorn status". Fierce Healthcare. August 17, 2021. Retrieved October 14, 2021.
  5. ^ a b c "Maven Clinic becomes the first U.S. 'unicorn' dedicated to women's and family health". Fortune. August 17, 2021. Retrieved October 14, 2021.
  6. ^ "Kate Ryder: Entrepreneur. Digital health pioneer. Former journalist". Tech Republic. December 1, 2014. Retrieved October 14, 2021.
  7. ^ "Maven Launches The First Telemedicine Platform Made For Women With $2.2 Million In Seed". TechCrunch. April 9, 2015. Retrieved October 14, 2021.
  8. ^ "Exclusive: This Startup Landed a $11 Million Series A to Disrupt Women's Health Care". Fortune. July 25, 2017. Retrieved October 14, 2021.
  9. ^ "Women and family health platform Maven lands $27M". Mobi Health News. September 26, 2018. Retrieved October 14, 2021.
  10. ^ a b "40 Under 40". Fortune. September 2, 2020. Retrieved October 14, 2021.
  11. ^ "Maven Clinic launches new fertility treatment reimbursement benefit". Benefit News. February 25, 2020. Retrieved October 15, 2021.
  12. ^ a b c d "The World's 50 Most Innovative Companies". Fast Company. September 2, 2020. Retrieved October 15, 2021.
  13. ^ "The 10 most innovative health companies of 2020". Fast Company. March 10, 2020. Retrieved October 15, 2021.
  14. ^ "Maven buys parent-child relationship app Bright Parenting". Mobi Health News. June 3, 2020. Retrieved October 15, 2021.
  15. ^ a b "Virtual care companies like Maven and Ginger are going all in on prescription drug deliveries, and it could be the future of telemedicine". Business Insider. March 9, 2021. Retrieved October 14, 2021.
  16. ^ "The Unexpected Rise of the On-Demand Digital Doula". Elle. June 26, 2015. Retrieved October 14, 2021.
  17. ^ "Maven's comprehensive approach to women's health earns it unicorn status". TechCrunch. August 17, 2021. Retrieved January 12, 2022.
  18. ^ "5 Questions with Maven CEO Katherine Ryder". Interbrand Health. Retrieved October 14, 2021.
  19. ^ "Women's digital health startup offers breast milk shipping benefit for employers". Benefit News. October 15, 2018. Retrieved January 12, 2022.

External links[]

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