Funding round
Maven Clinic Series B
Maven Clinic, which works in digital health platform development in New York, raised $27M in a Series B round announced on 26 Sep 2018, led by Sequoia Capital and Oak HC/FT. 5 firms took part, 3 of them already investors. It is Maven Clinic's third venture round on record; the one before was a Series A in Jul 2017.
$27M
Amount raised
Not disclosed
Post-money valuation
5
Investors
2 leads
Valuation
What this round says about the price
Maven Clinic did not disclose a valuation in this round. It came 14 months after Maven Clinic's Series A. It is 6.6% of the $410M Maven Clinic has raised in the venture rounds on record. Maven Clinic raised again 17 months later: a Series C round of $45M in Feb 2020. 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 12 Jul 2017, led by Spring Mountain Capital $11M
- Series B this round 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
Sequoia Capital and Oak HC/FT led the round with 3 other firms. Spring Mountain Capital, 14W and Female Founders Fund had backed Maven Clinic before.
Lead investors
- Sequoia Capital backs 589 venture-backed companies new investor
- Oak HC/FT backs 106 venture-backed companies new investor
Also in the round
- backs 15 venture-backed companies existing investor
- 14W existing investor
- backs 28 venture-backed companies existing investor
Joined the board: Jess Lee (Sequoia Capital) and Nancy Brown (Oak HC/FT).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, sales and marketing, scaling operations and working capital.
- Product development
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
14 Series B rounds in Health Care Services within a year either side disclosed an amount; the median was $20M, and this round was 1.4 times the median. The closest in time, other companies' Series B rounds in Health Care Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Health Care Services | 17 Dec 2018 | $25M | not disclosed | 14W |
| Health Care Services | 19 Apr 2018 | $14M | not disclosed | HLM Investment Partners and Optum Ventures |
| Health Care Services | 16 Apr 2018 | $10M | $58M | Lok Capital |
| Health Care Services | 1 Mar 2019 | $12M | not disclosed | not named |
| Ro Health Care Services | 16 Apr 2019 | $85M | $500M | FirstMark |
| Cityblock Health Health Care Services | 15 Apr 2019 | $65M | not disclosed | Redpoint Ventures |
| Health Care Services | 12 Apr 2019 | $23M | not disclosed | not named |
| Health Care Services | 23 Apr 2019 | $17M | not disclosed | SBI Investment |
Sources
Where this comes from
Reported by 4 sources.
Questions
Frequently asked
How much did Maven Clinic raise in its Series B round?
Maven Clinic raised $27M in its Series B round, announced in Sep 2018.
Who led Maven Clinic's Series B round?
Sequoia Capital and Oak HC/FT led it, with Spring Mountain Capital, 14W and Female Founders Fund.
What was Maven Clinic's valuation at the Series B round?
It was not disclosed.
How does it compare with other Series B rounds in Health Care Services?
14 Series B rounds in Health Care Services within a year either side disclosed an amount; the median was $20M, and this round was 1.4 times the median.
Did Maven Clinic raise again after this round?
Yes: a Series C round in Feb 2020 of $45M.