A fruitful Series D funding has left New York City-based virtual women’s and family health clinic Maven with $110 million in investment capital. The round was co-led by Lux Capital and Dragoneer Investment Group, with BOND and repeat investors Icon Ventures, Sequoia, and Oak HC/FT participating. Media mogul Oprah Winfrey was also in the mix.
This sizable funding puts Maven’s existing investment treasury over the $200 million marker, and the company is now valued above $1 billion. Its leadership has indicated that the financing will be used to reach new populations, invest in further product refinement and innovation, and continually hone its already-award-earning member experience.
Last year’s Series C funding was a definitive jumpstart for Maven, which was able to multiply its client base and partner with Fortune 15 players such as Microsoft. Membership in the company’s payer and employer-sponsored programs saw a stunning 400% rise. Maven has logged a near-flawless retention rate just under 100% for extant clients, including Booz Allen Hamilton, Boston Scientific, and L’Oreal. Additionally, its commitment to service quality is unflagging; Maven has maintained a 4.9/5 appointment satisfaction rating for all specialities and kept wait times for same-day consultations at an impressive average of 27 minutes.