Expanding its women’s health benefits offerings for employers, Maven raises $45 million
Over the past 12 months, Maven, the benefits provider focused on women's health and family planning, has expanded its customer base to include more than 100 companies, and grown its telehealth services to include 1,700 providers across 20 specialties - for services like shipping breast milk, finding a doula and egg freezing, fertility treatments, surrogacy and adoption.
The New York-based company, which offers its healthcare services to individuals, health plans and employers, has now raised an additional $45 million to expand its offerings even further.
Its new money comes from a clutch of celebrity investors, like Mindy Kaling, Natalie Portman and Reese Witherspoon, and institutional investors led by Icon Ventures and return backers Sequoia Capital, Oak HC/FT, Spring Mountain Capital, Female Founders Fund and Harmony Partners. Anne Wojcicki, the founder of 23andMe, is also an investor in the company.
"Maven is addressing critical gaps in care by offering the largest digital health network of women's and family health providers," said Tom Mawhinney, lead investor from Icon Ventures, who will join the Maven board of directors, 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."
In the six years since founder Katherine Ryder first launched Maven, the company has raised more than $77 million for its service and she became a mother of two boys.
"You go through this enormous life experience; it's hugely transformative to have a child," she told TechCrunch after announcing the company's $27 million Series B round, led by Sequoia. "You do it when your career is moving up - they call it the rush hour of life - and with no one supporting you on the other end, it's easy to say 'screw it, I'm going home to my family' " If someone leaves the workforce, that's fine, it's their choice, but they shouldn't feel forced to because they don't have support."
Some of Maven's partners include Snap and Bumble to provide employees access to its women's and family health provider network. The company connects users with OB-GYNs, pediatricians, therapists, career coaches and other services around family planning.