Grapevine

Women's health startup Maven Clinic closes funding at $1.7 billion valuation

Kate Ryder, CEO of Maven, speaking at the CNBC Changemakers Summit in New York on April 18th, 2024.

Maven Clinic, a health-care startup for women and families, announced Tuesday that it has closed a $125 million funding round at a $1.7 billion valuation.

The company seeks to offer patients virtual care across their entire reproductive life cycle, whether they are planning a family, pregnant, postpartum or into menopause. Maven has raised a total of more than $425 million, and it will use its fresh capital to invest in its fertility benefits, expand its platform and leverage real-time data to deliver more proactive care to members.

Maven CEO Kate Ryder told CNBC she founded the company in 2014 after watching her friends struggle to find the support they needed while building their families. Ten years later, Maven covers about 17 million lives through its contracts with health plans and employers, including companies like Amazon , Microsoft and AT&T .

"Digital health is just at the very beginning," Ryder told CNBC.

The company was the first U.S. startup dedicated to women's and family health to ever reach "unicorn" status, or a valuation of more than $1 billion. Some of Maven's investors include firms like General Catalyst, Sequoia and Oak HC/FT, as well as celebrities like Oprah Winfrey, Mindy Kaling and Reese Witherspoon.