Funding round
Maven Clinic Series D
Maven Clinic, which works in digital health platform development in New York, raised $110M in a Series D round announced on 17 Aug 2021, led by Dragoneer Investment Group and Lux Capital, at a $1.00B post-money valuation. 6 firms took part, 3 of them already investors, with 1 individual investor. It is Maven Clinic's fifth venture round on record; the one before was a Series C in Feb 2020.
$110M
Amount raised
$1.00B
Post-money valuation
$890M pre-money
6
Investors
2 leads
11%
Stake sold
new money over the post-money
Valuation
What this round says about the price
This round priced Maven Clinic at $1.00B after the new money. The $110M bought investors about 11% of the company. It came 18 months after Maven Clinic's Series C. It is 27% of the $410M Maven Clinic has raised in the venture rounds on record. Maven Clinic raised again 14 months later: a Series E round of $90M in Oct 2022, at $1.35B 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 19 Feb 2020, led by Icon Ventures $45M
- Series D this round 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
Dragoneer Investment Group and Lux Capital led the round with 4 other firms. Sequoia Capital, Oak HC/FT and Icon Ventures had backed Maven Clinic before.
Lead investors
- Dragoneer Investment Group backs 82 venture-backed companies new investor
- Lux Capital backs 194 venture-backed companies new investor
Also in the round
- BOND backs 91 venture-backed companies new investor
- Sequoia Capital backs 589 venture-backed companies existing investor
- Oak HC/FT backs 106 venture-backed companies existing investor
- backs 29 venture-backed companies existing investor
Individual investors: Oprah Winfrey. Joined the board: Eric Jones (Dragoneer Investment Group) and Deena Shakir (Lux Capital).
Use of proceeds
What the money is for
According to the announcement, the money goes to product development, geographic expansion, sales and marketing, scaling operations and working capital.
- Product development
- Geographic expansion
- Sales and marketing
- Scaling operations
- Working capital
Comparable rounds
How it compares
7 Series D rounds in Health Care Services within a year either side disclosed an amount; the median was $100M, and this round was close to the median. The closest in time, other companies' Series D rounds in Health Care Services:
| Company | Announced | Amount | Post-money | Led by |
|---|---|---|---|---|
| Cityblock Health Health Care Services | 3 Aug 2021 | $400M | $5.70B | SoftBank |
| Health Care Services | 13 Oct 2021 | $100M | not disclosed | Deerfield |
| Sword Health Health Care Services | 22 Nov 2021 | $163M | $2.00B | Sapphire Ventures |
| Ro Health Care Services | 23 Mar 2021 | $500M | $5.00B | General Catalyst and FirstMark |
| Health Care Services | 5 Jan 2022 | $35M | not disclosed | not named |
| Aledade Health Care Services | 19 Jan 2021 | $100M | $2.10B | Meritech Capital |
| Health Care Services | 18 Nov 2020 | $42M | not disclosed | Valor |
Sources
Where this comes from
Reported by 2 sources.
Questions
Frequently asked
How much did Maven Clinic raise in its Series D round?
Maven Clinic raised $110M in its Series D round, announced in Aug 2021.
Who led Maven Clinic's Series D round?
Dragoneer Investment Group and Lux Capital led it, with BOND, Sequoia Capital, Oak HC/FT and Icon Ventures.
What was Maven Clinic's valuation at the Series D round?
$1.00B post-money ($890M pre-money).
How does it compare with other Series D rounds in Health Care Services?
7 Series D rounds in Health Care Services within a year either side disclosed an amount; the median was $100M, and this round was close to the median.
Did Maven Clinic raise again after this round?
Yes: a Series E round in Oct 2022 of $90M at $1.35B post-money.