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Kindbody Announces $100 Million in New Funding to Further Accelerate Growth
Company Continues Nationwide Expansion with Plans to Open Ten State-of-the-Art Fertility Clinics to Support Growing Demand from Employers and Patients Nationwide
NEW YORK, March 2, 2023-- Kindbody, a leading technology-driven fertility clinic network and family-building benefits provider for employers, today announced it raised $100 million in capital from Perceptive Advisors, a leading life sciences investment firm, to support future company growth. The latest financing brings Kindbody's total equity and debt funding to more than $290 million, and its valuation to $1.8 billion, solidifying its position as the largest women-owned fertility company serving employers and consumers. This financing allows the company to continue to execute on its vision of affordable and accessible fertility care, by adding new clinics in underserved U.S. markets and by investing in operations to further enhance its care model which is designed to deliver industry-leading clinical outcomes.
Kindbody was founded in late 2018 to fix fertility healthcare in the U.S., which is fragmented, inequitable, expensive, and inaccessible to most. Kindbody is the only family-building benefits provider that owns and operates fertility clinics saving employers 25%-30% by contracting directly with them to provide comprehensive virtual and in-person care to their employees. As the direct provider of clinical care, Kindbody is uniquely positioned to provide a seamless continuum of care, decrease cost, improve patient experience, and deliver better health outcomes.
"Infertility is widespread, more common than diseases like cancer or diabetes. Yet, for far too long, high-quality fertility care has been available to only a privileged few," said Gina Bartasi, Founder and Chairwoman of Kindbody. "With the support of Perceptive Advisors, and our other investors, Kindbody is positioned to deliver on our vision to help everyone realize their dream of becoming a parent by making high-quality fertility care affordable and accessible for all."
Bartasi continued, "In 2023, Kindbody will sharpen its operations, make strategic acquisitions, and maintain our laser focus on profitable growth."
Kindbody has grown significantly in the past year. In 2022, the company added 42 large employer clients, including Walmart, and today is the fertility benefits provider for 112 companies, covering more than 2.4 million lives. The company made three strategic acquisitions to accommodate growth. Kindbody acquired Vios Fertility Institute, more than doubling its national clinic footprint; a genomics company, adding genetic testing and carrier screening to its end-to-end care delivery model; and, a gestational surrogacy agency, further expanding its continuum of care. Today, Kindbody owns and operates 31 clinics nationwide with plans to open ten new clinics in 2023 in underserved markets with the greatest demand for affordable, high-quality fertility healthcare.
"This team is unstoppable in their vision to reinvent fertility healthcare," said Sam Chawla, Portfolio Manager at Perceptive. "Kindbody's differentiated care delivery model, focused on exceptional patient experience and outcomes at a reduced cost for employers and patients, positions it to meet the urgent need for better fertility healthcare solutions, making Kindbody an attractive opportunity for us."
Kindbody is a technology-driven fertility clinic network and family-building benefits provider for employers offering virtual and in-person care. Kindbody is the trusted fertility benefits provider for 112 leading employers, covering more than 2.4 million lives. Many thousands more receive their fertility care directly from Kindbody throughout the country at signature clinics, mobile clinics, and partner clinics. As the fertility benefits provider, technology platform, and direct provider of high-quality care, Kindbody delivers a seamless, integrated experience with superior health outcomes at lower cost, making fertility care more affordable and accessible for all. Kindbody has raised $290 million in funding from leading investors including Perceptive Advisors, GV (formerly Google Ventures), RRE Ventures, Claritas Health Ventures, Rock Springs Capital, NFP Ventures, and TQ Ventures. For more information, visit kindbody.com and follow us on Linkedin, Twitter, and Instagram.