Maven, a virtual clinic specializing in women’s and family health, said Monday it raised $90 million in a Series E funding round.
The company said it will use the funds to increase platform personalization and deepen its family and reproductive health support.
This brings Maven’s funding total to $300 million. A source within the company said this latest funding round pushes its valuation past $1 billion.
General Catalyst, a venture capital firm that has backed several digital health companies, led the round. Maven also got participation from CVS Health Ventures, La Famiglia, and Intermountain Ventures, as well as existing investors Sequoia, Oak HC/FT, Icon Ventures, Dragoneer Investment Group and Lux Capital.
Maven added Dr. Jennifer Schneider, co-founder and CEO of Homeward, a tech-enabled startup targeting rural health patients, to its board. Schneider previously was the president of digital health company, Livongo.
In addition to Schneider, Maven added Yvette Bright, former Chief Operating Officer of Independence Blue Cross a, Chris Klomp, former CEO and Chairman of Collective Medical, a healthcare data company, to its board.
Maven partnered with Blue Cross Blue Shield of Michigan in August to develop a personalized digital care app to help guide Blue Cross members through family planning, including different paths to parenthood, pregnancy, postpartum and pediatrics. The company said it reaches 15 million covered lives, which is a five-fold increase since its $110 million Series D funding round in August 2021.