Venture Capital News: Kindbody Raises $15M Series A
NEW YORK, NY, Kindbody announced it has secured $15M in Series A financing.
Fast-growing women's health care start-up, Kindbody, today announced it has secured $15M in Series A financing, bringing the total amount raised to $22M. The New York-based femtech company is reinventing women's health care through brick-and-mortar and mobile clinics, starting with fertility care and now expanding into mental health, nutrition, and gynecological services.
The round was co-led by New York-based RRE Ventures and Perceptive Advisors, with participation from new and existing investors including Green D Ventures, Trail Mix Ventures and Winklevoss Capital. Ellen Hukkelhoven from Perceptive Advisors and Alice Lloyd George from RRE will join the company's Board of Directors.
"We were excited about Kindbody from the moment we met the team," said Lloyd George. "We believe in their vertically-integrated and patient-centric approach. Demand is growing rapidly and there's a huge gap in this market - the timing couldn't be better to build a trusted, national brand that speaks to millennials and is fundamentally democratizing access to care."
Launched in August 2018, Kindbody has already seen hundreds of women in three markets including New York, Los Angeles, and San Francisco through brick-and-mortar and mobile units, with additional locations opening soon. Upcoming locations are predominantly retail-level including its Manhattan flagship location at 102 Fifth Avenue scheduled to open this summer. In addition to convenience, the company's mission is to increase accessibility by making fertility treatment more affordable and transparent.
Last week, Kindbody announced it would be providing fertility benefits directly to employers to help reduce costs and increase transparency. Kindbody is delivering a one-stop solution for all reproductive care needs including testing, assessment, full fertility services (IVF, IUI and egg freezing), nutrition, and pre- and post-partum care. Its goal is to provide continuity of care to remove the burden on patients from having to navigate the system on their own and from employers having to decide between various bifurcated solutions.
"The women's health sector has long been underserved - by both investment and technology. We've been following Kindbody since the beginning and their ability to scale and utilize technology to improve decision making and efficiencies is what led to our investment," commented Hukkelhoven, who holds a PhD in Cancer Biology from Memorial Sloan Kettering. "In the midst of a new wave of feminism, we are excited to partner with Kindbody to deliver female empowerment through data-enabled healthcare."
The team includes healthcare entrepreneur, Founder/CEO Gina Bartasi, Chief Medical Officer (REI) Dr. Lynn Westphal from Stanford University School of Medicine, Co-founder and Head of Product Joanne Schneider from Flatiron Health and Google, Founding Physician Dr. Fahimeh Sasan from Mount Sinai, and SVP of Business and Legal Affairs Shilpa Patel from Quartet and Oscar.
Bartasi said about the funding, "As a women's health company, we knew our ideal lead investors would be women and from NYC. We're appreciative of the support and infrastructure that a city like New York provides us," adding, "We're passionate about delivering a better solution and we only get there through the support of our female-led investors, female-led leadership team and incredibly supportive female patient population."
This round follows the prior seed funding from investors TQ Ventures, Chelsea Clinton and Marc Mezvinsky, Nat Turner (Co-Founder and CEO, Flatiron Health), Vivek Garipalli (Co-Founder and CEO of Clover Health), Marco DeMeireles (Partner, TCG), Leandra Medine (Founder, Man Repeller), and Halle Tecco (Founder Emeritus, Rock Health), among others.
Kindbody is reinventing women's healthcare for the modern woman, starting with fertility and wellness services. Through a national network of boutique locations, Kindbody is bringing together clinical excellence, best-in-class technology, and accessible pricing - connecting the full patient experience in one, intuitive platform. Visit www.kindbody.com and follow us on Instagram, Twitter, and Facebook.
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