Total amount raised
$306.3 Million
Latest funding date
5/1/2023
Location
Kindbody has successfully raised funding over 10 rounds, with the latest round involving Morgan Health as a lead investor. The company is backed by a total of 37 investors, including Parkway Venture Capital.
Keep reading to explore the intricacies of Kindbody's fundraising journey and the investors backing this innovative fertility clinic network.
What Is Kindbody?
Kindbody is a fertility clinic network and family-building benefits provider for employers. The company operates in the industries of employee benefits, fertility, health care, and medical services. It is based in New York, New York, United States, and has an employee count ranging from 501 to 1000.
Kindbody offers a comprehensive range of services including IVF, egg freezing, fertility assessments, and holistic care. The company aims to make fertility care accessible through innovative technology, employee benefits, financing, and insurance options. The clinic has a team of highly qualified reproductive endocrinologists and infertility specialists dedicated to helping individuals and couples achieve their family-building goals.
How Much Funding Has Kindbody Raised?
- Round Name: Seed
- Amount Raised: USD 2,100,000
- Date: February 2018
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish initial operations and develop the core technology platform.
- Round Name: Seed
- Amount Raised: USD 4,200,000
- Date: August 2018
- Lead Investors: Marco DeMeireles
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the clinic network and enhance service offerings.
- Round Name: Series A
- Amount Raised: USD 15,000,000
- Date: April 2019
- Lead Investors: Perceptive Advisors, RRE Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To scale operations and increase market presence.
- Round Name: Series A
- Amount Raised: USD 10,000,000
- Date: December 2019
- Lead Investors: Google Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To further expand clinic locations and invest in technology.
- Round Name: Series B
- Amount Raised: USD 32,000,000
- Date: July 2020
- Lead Investors: Perceptive Advisors
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance service delivery and expand into new markets.
- Round Name: Series C
- Amount Raised: USD 62,000,000
- Date: June 2021
- Lead Investors: Claritas Health Ventures
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate growth and expand the clinic network.
- Round Name: Series C
- Amount Raised: USD 26,666,369
- Date: September 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support ongoing expansion and technological advancements.
- Round Name: Series Unknown
- Amount Raised: USD 29,359,305
- Date: March 2022
- Lead Investors: Not publicly disclosed
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance service offerings and expand market reach.
- Round Name: Debt Financing
- Amount Raised: USD 100,000,000
- Date: March 2023
- Lead Investors: Perceptive Advisors
- Valuation at Round: USD 1.8 billion
- Motivation Behind the Round: To expand fertility services into new markets and hire key personnel.
- Round Name: Series Unknown
- Amount Raised: USD 25,000,000
- Date: May 2023
- Lead Investors: Morgan Health
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To continue expanding the clinic network and improve service delivery.
Total Amount Raised: USD 306,325,674. Current Valuation: USD 1.8 billion.
Key Investors
- Morgan Health
- Details: Morgan Health is a division of JPMorgan Chase focused on improving the quality, equity, and affordability of employer-sponsored healthcare. The division is led by Dan Mendelson and Cheryl Pegus.
- Investment Focus Areas: Healthcare, health outcomes, cost reduction.
- Notable Investments: Not publicly disclosed.
- Perceptive Advisors
- Details: Perceptive Advisors is a leading investment management firm specializing in the healthcare sector. They manage a variety of investment funds and have a strong track record in identifying and supporting innovative healthcare companies.
- Investment Focus Areas: Healthcare, biotechnology, pharmaceuticals, medical devices.
- Notable Investments: Not publicly disclosed.
- GV (formerly Google Ventures)
- Details: GV is the venture capital arm of Alphabet Inc., focusing on investments in technology and life sciences. The firm provides seed, venture, and growth-stage funding to innovative companies.
- Investment Focus Areas: Technology, life sciences, healthcare.
- Notable Investments: Uber, Slack, Flatiron Health.
- RRE Ventures
- Details: RRE Ventures is a venture capital firm that invests in early-stage technology companies. The firm has a history of backing transformative companies across various sectors.
- Investment Focus Areas: Early-stage technology, fintech, media.
- Notable Investments: BuzzFeed, Venmo, Spaceflight Industries.
- Claritas Health Ventures
- Details: Claritas Health Ventures is an investment firm focused on the healthcare and life sciences sectors. They aim to support companies that are at the forefront of medical innovation.
- Investment Focus Areas: Healthcare, life sciences, medical innovation.
- Notable Investments: Not publicly disclosed.
What's Next for Kindbody?
Kindbody is poised for significant growth as it plans to open 10 new locations in cities like Miami, Columbus, and Seattle. This expansion aims to meet the increasing demand for fertility services among employers and individuals. The company’s comprehensive approach, offering virtual, in-person, and home-based care, positions it well to attract more large employer clients and serve a broader consumer base.
Future fundraising opportunities look promising, with the potential for an initial public offering (IPO) once Kindbody becomes EBITDA and cash flow positive. Continued interest from investors like Perceptive Advisors and GV suggests that the company will have ample support for its ambitious growth plans. However, challenges such as high treatment costs, competition from other fertility service providers, and the need to maintain high-quality care while expanding rapidly could pose hurdles along the way.
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