Maven Clinic, which specializes in women and family healthcare, has raised another $90 million in funding – a development that CEO Katie Ryder says was heavily motivated by the loss of federal-level protection for abortion rights.
The overturning of Roe has “created additional inequities in a system already riddled with them,” making patient-centric caret more critical than ever, she wrote in a blog post Monday announcing the Series E round With a five-times increase in clients over the past year – the count is now at 15 million – the startup will put the latest cash infusion directly into growth. “Women and families sorely need the innovation we’re driving,” she wrote, which includes options for those who wish to end their pregnancy in a post-Roe v. Wade world.
The new round comes two years after the company raised $45 million – with help from celebrity investors like actresses Reese Witherspoon, Natalie Portman, Mindy Kaling and 23andMe CEO Anne Wojcicki. As of today, Maven has secured $300 million in funding, with the latest coming from venture capital firm General Catalyst, with help from CVS Health Ventures, La Famiglia and Intermountain Ventures.
With its valuation now at $1.35 billion, Maven’s focus going into 2023 will be on growing its virtual platform, expanding its fertility and family building offerings, and diving into the Medicaid market. “We’re committed to serving Medicaid patients with the same quality and attention to their experience that we have brought to every other market in which we’ve operated,” Ryder wrote.
“Right now, amidst so much economic uncertainty and political divisiveness and even more restrictions on access to care, the world can seem like it’s falling apart.” she wrote. “But we believe that we are still at the dawn of the age of better women’s and family healthcare.”