Women’s health startup Maven Clinic valued at $1.7 billion | Real Time Headlines

Melvin ClinicA new healthcare startup targeting women and families announced Tuesday that it has completed a $125 million funding round at a valuation of $1.7 billion.

The company is committed to providing patients with full virtual care reproductive life cyclewhether they are planning a family, pregnant, postpartum or entering menopause. Maven, which has raised a total of more than $425 million, will use the new capital to invest in its fertility benefits, expand its platform and leverage immediate data to provide more proactive care to members.

Marvin CEO Kate Ryder told CNBC that she started the company in 2014 after watching her friends struggle to find the support they needed as they started families. Ten years later, Maven covers approximately 17 million lives through contracts with health plans and employers, including company like Amazon, Microsoft and AT&T.

“Digital health is just the beginning,” Ryder told CNBC.

The company is the first U.S. startup dedicated to women’s and family health to achieve “unicorn” status, a valuation of more than $1 billion. Some of Maven’s investors include General Catalyst, Sequoia and Oak HC/FT, as well as Oprah Winfrey, Mindy Kaling and Reese Witherspoon Witherspoon) and other celebrities.

Ryder said Maven is currently focused on its product roadmap, but aims to eventually go to market. The company already has a presence in the field CNBC Disruptor 50 On the list for three consecutive years.

Women’s health, especially women’s reproductive health, is a hot topic in today’s society. upcoming elections between vice presidents Kamala Harris and former president Donald Trump. Ryder said Maven would be willing to share data and its views on policy no matter which administration wins.

After the U.S. Supreme Court overturned Roe v. Wade In June 2022, Maven found itself in the spotlight as it worked to help employers close emerging gaps in care. In a statement, Ryder called the ruling “a devastating setback for American health care.” blog post At the time, he added that its clients could use Maven to reimburse patients for interstate travel.

The company saw a Quarterly growth of 67% Interested in travel benefits and health care for pregnant women following the ruling.

That same year, venture capital investment in women’s health companies increased 5%, according to a February report. Deloitte. Maven closed one US$90 million financing round in November of that year. According to the report, venture capital investment in the entire health technology market fell by 27% during the same period.

The amount of data available on women’s health is also growing, thanks in part to companies like Maven. Ryder noted, however, that the information is often bleak in the post-ROE world, especially as experts “start to see a fuller picture of preventable deaths due to limited access to care.”

“I think with more funding and research, more data points from states, from platforms like ours, you can start to point out and paint a complete picture of what’s going on, and that can help,” Ryder said. Making policy better “The question is, honestly, when? How many people need to suffer needlessly at the same time? “