Funding round
Maven Clinic Series A
Maven Clinic, which works in digital health platform development in New York, raised $11M in a Series A round announced on 12 Jul 2017, led by Spring Mountain Capital. 7 firms took part. It is Maven Clinic's second venture round on record; the one before was a Seed in Apr 2015.
$11M
Amount raised
Not disclosed
Post-money valuation
7
Investors
1 lead
Valuation
What this round says about the price
Maven Clinic did not disclose a valuation in this round. It came 27 months after Maven Clinic's Seed. It is 2.7% of the $410M Maven Clinic has raised in the venture rounds on record. Maven Clinic raised again 14 months later: a Series B round of $27M in Sep 2018. Its next priced round, a Series D in Aug 2021, valued it at $1.00B.
Maven Clinic's funding rounds
Maven Clinic has 7 venture rounds on record. This one is highlighted.
- Seed 9 Apr 2015 $2.2M
- Series A this round 12 Jul 2017, led by Spring Mountain Capital $11M
- Series B 26 Sep 2018, led by Sequoia Capital and Oak HC/FT $27M
- Series C 19 Feb 2020, led by Icon Ventures $45M
- Series D 17 Aug 2021, led by Dragoneer Investment Group and Lux Capital $110M$1.00B post-money
- Series E 1 Oct 2022, led by General Catalyst $90M$1.35B post-money
- Series F 8 Oct 2024, led by StepStone Group $125M$1.70B post-money
Investors
Who put money in
Spring Mountain Capital led the round with 6 other firms.
Lead investor
- backs 15 venture-backed companies new investor
Also in the round
- 14W new investor
- backs 28 venture-backed companies new investor
- DGNL new investor
- backs 23 venture-backed companies new investor
- 8VC new investor
- BoxGroup backs 175 venture-backed companies new investor
Joined the board: Lauren Breuggen (Spring Mountain Capital) and Rachel Winokur (Aetna).
Use of proceeds
What the money is for
According to the announcement, the money goes to hiring, product development, sales and marketing, scaling operations and working capital.
- Hiring
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
21 Series A rounds in Health Care Services within a year either side disclosed an amount; the median was $8.0M, and this round was 1.4 times the median. The closest in time, other companies' Series A rounds in Health Care Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Health Care Services | 9 Aug 2017 | $6.7M | not disclosed | F-Prime Capital Partners |
| Health Care Services | 27 May 2017 | $12M | not disclosed | not named |
| Health Care Services | 22 May 2017 | $11M | not disclosed | Novartis Venture Fund and Hikma Ventures |
| Health Care Services | 23 Nov 2017 | $6.6M | not disclosed | Shravin Bharti Mittal |
| Cityblock Health Health Care Services | 4 Jan 2018 | $21M | not disclosed | Maverick Ventures |
| Health Care Services | 8 Jan 2017 | $13M | not disclosed | not named |
| Ping An Good Doctor Health Care Services | 2 Feb 2018 | $1.15B | $8.80B | SoftBank Vision Fund |
| Health Care Services | 23 Feb 2018 | $12M | not disclosed | White Star Capital |
Sources
Where this comes from
Reported by 3 sources.
Questions
Frequently asked
How much did Maven Clinic raise in its Series A round?
Maven Clinic raised $11M in its Series A round, announced in Jul 2017.
Who led Maven Clinic's Series A round?
Spring Mountain Capital led it, with 14W, Female Founders Fund, DGNL, Colle Capital and 8VC and 1 more.
What was Maven Clinic's valuation at the Series A round?
It was not disclosed.
How does it compare with other Series A rounds in Health Care Services?
21 Series A rounds in Health Care Services within a year either side disclosed an amount; the median was $8.0M, and this round was 1.4 times the median.
Did Maven Clinic raise again after this round?
Yes: a Series B round in Sep 2018 of $27M.