Photo: Maven Clinic
Maven Clinic, a virtual women’s and family healthcare provider, announced Tuesday it raised $110 million in Series D funding, bringing the clinic’s funding total to more than $200 million.
The round was led by Dragoneer Investment Group and Lux Capital, with participation from BOND, Oprah Winfrey and existing investors Sequoia, Oak HC/FT and Icon Ventures.
Maven said it plans to use the funding to expand into new patient populations and invest in new products.
"The digital era for women's and family health has arrived," Kate Ryder, founder and CEO of Maven, said in a statement. "For far too long, this space has been under-researched, undersized, and under-innovated, and, as a result, it's profoundly underperforming, failing patients during some of the most challenging times in their lives.
"With the support of our new and existing investors, Maven will be able to deliver on the promise of digital health for women and families everywhere, offering personalized care that meets them where they are."
Earlier this year, Maven added a Scientific Advisory Board to improve the company’s fertility, maternity, parenting and pediatric clinical programming. One board member, Dr. Neel Shah, became Maven’s first chief medical officer in July.
The clinic has also been expanding its digital tools offerings. Last year it released a parenting and pediatric care product, developed a tool that helped parents make decisions about sending their kids to school during COVID-19 and bought the parent-child relationship app Bright Parenting.
Fertility benefits-manager Carrot Fertility raised $75 million in Series C funding, with Tiger Global Management leading the round.
OrbiMed also participated, along with existing investors F-Prime, CRV, U.S. Venture Partners and Silicon Valley Bank.
The company said it will use the money to expand its fertility products for employers and health plans.
“Democratizing access to fertility healthcare for employers in a way that is flexible, customizable and global is at the core of our mission,” Tammy Sun, CEO and cofounder of Carrot, said in a statement.
“We’re thrilled to welcome our new financial partners on this journey as we double down on products that serve employers and health plans in ways that [reduce] overspending, [improve] the member experience, and [help] them build world-class teams in a competitive talent war.”
ClosedLoop.ai, a data science platform that aims to use artificial intelligence and machine learning in healthcare, scooped up $34 million in Series B financing.
The round was led by Telstra Ventures with participation from Breyer Capital, Greycroft Ventures, .406 Ventures and Healthfirst. Former CMMI director Adam Boehler and former IBM CEO Sam Palmisano also participated in this round.
Earlier this year, ClosedLoop won the Centers for Medicare and Medicaid Services’ Artificial Intelligence Health Outcomes Challenge, a multistage contest to predict Medicare beneficiaries’ health outcomes.
“As growth investors, we’re always on the lookout for world-class entrepreneurs with the vision and expertise to build and scale great products that disrupt massive markets,” Marcus Bartram, a founder and general partner at Telstra Ventures, said in a statement. “In healthcare, where service demands and costs are ever increasing, ClosedLoop is clearly something special."
Group emotional support platform Circles announced it raised $8 million in seed funding. This round was led by NFX and Flint Capital with participation from Sir Ronald Cohen, Jeff Swartz and other investors.
Circles connects people who are experiencing life challenges like the death of a loved one or a divorce and lets them join group meetings conducted by a professional therapist. The company said it plans to use the capital to expand its services to other areas, such as LGBTQ+ issues, people dealing with chronic illness or ones caring for a sick family member.
“This desire to connect with others who are going through the same challenges often means we wind up on Facebook groups or these other unstructured online forums, but those outlets don’t enable the types of meaningful connections needed to help people feel better,” Irad Eichler, founder and CEO of Circles, said in a statement. “With Circles, people never have to face their struggles alone.”