Funding round
Maven Clinic Series C
Maven Clinic, which works in digital health platform development in New York, raised $45M in a Series C round announced on 19 Feb 2020, led by Icon Ventures. 6 firms took part. It is Maven Clinic's fourth venture round on record; the one before was a Series B in Sep 2018.
$45M
Amount raised
Not disclosed
Post-money valuation
6
Investors
1 lead
Valuation
What this round says about the price
Maven Clinic did not disclose a valuation in this round. It came 17 months after Maven Clinic's Series B. It is 11% of the $410M Maven Clinic has raised in the venture rounds on record. Maven Clinic raised again 18 months later: a Series D round of $110M in Aug 2021, at $1.00B post-money.
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 26 Sep 2018, led by Sequoia Capital and Oak HC/FT $27M
- Series C this round 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
Icon Ventures led the round with 5 other firms.
Lead investor
- backs 29 venture-backed companies new investor
Also in the round
- Sequoia Capital backs 589 venture-backed companies new investor
- Oak HC/FT backs 106 venture-backed companies new investor
- backs 15 venture-backed companies new investor
- backs 28 venture-backed companies new investor
- backs 30 venture-backed companies new investor
Joined the board: Tom Mawhinney (Icon Ventures).
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
12 Series C rounds in Health Care Services within a year either side disclosed an amount; the median was $62M, and this round was 73% of the median. The closest in time, other companies' Series C rounds in Health Care Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Health Care Services | 28 Feb 2020 | $48M | not disclosed | 14W and Mangrove Capital Partners |
| Health Care Services | 7 Jan 2020 | $156M | not disclosed | Ontario Teachers’ Pension Plan |
| Health Care Services | 27 Mar 2020 | $18M | not disclosed | Deerfield Management Company |
| Aledade Health Care Services | 20 Apr 2020 | $64M | not disclosed | OMERS Growth Equity |
| Ro Health Care Services | 27 Jul 2020 | $200M | $1.50B | General Catalyst |
| Health Care Services | 1 Sep 2019 | $98M | not disclosed | not named |
| Health Care Services | 8 Oct 2020 | $55M | not disclosed | King River |
| Carbon Health Health Care Services | 10 Nov 2020 | $100M | not disclosed | Dragoneer Investment Group |
Sources
Where this comes from
Reported by 5 sources.
Questions
Frequently asked
How much did Maven Clinic raise in its Series C round?
Maven Clinic raised $45M in its Series C round, announced in Feb 2020.
Who led Maven Clinic's Series C round?
Icon Ventures led it, with Sequoia Capital, Oak HC/FT, Spring Mountain Capital, Female Founders Fund and Harmony Partners.
What was Maven Clinic's valuation at the Series C round?
It was not disclosed.
How does it compare with other Series C rounds in Health Care Services?
12 Series C rounds in Health Care Services within a year either side disclosed an amount; the median was $62M, and this round was 73% of the median.
Did Maven Clinic raise again after this round?
Yes: a Series D round in Aug 2021 of $110M at $1.00B post-money.