GV Backs Kindbody As The Company Expands Employer Benefits Offering
Fertility and wellness company announces additional funding to sell directly to U.S. employers with 15 new customers and counting.
Dec 12, 2019, 09:00 ET
NEW YORK, Dec. 12, 2019 /PRNewswire/ -- Kindbody, a health tech company providing fertility, gynecology, and wellness services in modern, tech-enabled clinics, today announced it has secured additional funding from GV (formerly Google Ventures) and other investors, bringing the total amount raised to $32M.
Kindbody was founded last summer by serial entrepreneur, Gina Bartasi, whose previous fertility start-up, Progyny, went public in October and is now valued at $2.3 Billion. "What we continue to hear from large, self-insured employers is the desire to buy specialty services directly from providers. There's easily a 20 percent cost reduction by eliminating the middleman and automating much of the operations. The result can be millions of dollars in savings," said Bartasi. Adding, "We've wanted to work with the GV team since I met them several years ago, and we're fortunate to have their support as we expand nationally and internationally."
Kindbody's comprehensive technology solution includes a proprietary electronic medical records system, patient portal, and analytics platform. "Employers have been adding holistic family-building solutions for the past few years, but tell us they are still missing transparency through real-time utilization data and analyses. Our technology allows us to provide this visibility, while reducing costs and improving outcomes, and delivering a much more seamless patient experience," added Kindbody Co-Founder and Head of Product Joanne Schneider.
The new employer solution was available starting in April of this year and the company has secured 15 customers to date. Shilpa Patel, Kindbody Chief Business and Legal Officer and founding team member, who has been spearheading this initiative, said "We anticipated interest, but the early demand has exceeded our expectations. Employers frequently cite problems like fragmentation of care, lack of transparency and innovation, as well as prohibitive costs as a barrier to both accessing care and adding a family-building benefit."
"Kindbody aims to reinvent the fertility industry with the consumer in mind," said Frederique Dame, Partner, GV. "The founding team has a keen awareness of what is needed to create successful fertility solutions, and we believe the company can serve a large market for accessible gynecology and fertility services with an entirely new approach."
Kindbody is well-equipped to provide a full-spectrum fertility benefit to large employers through its fully-owned and operated brick-and-mortar and mobile clinics, its Centers of Excellence network of partner clinics across the country, telehealth and care navigation services. Kindbody's clinical excellence is led by Chief Medical Officer, Dr. Lynn Westphal, previously at Stanford University School of Medicine, and Founding Physician, Dr. Fahimeh Sasan, previously of Mount Sinai Health System in New York, and includes corporate team executives President, Annbeth Eschbach, and Chief Financial Officer, Debbie Markowitz.
About Kindbody
Kindbody provides fertility, gynecology, and wellness services in modern, tech-enabled clinics. We offer full-service care at accessible prices and welcoming spaces. Our medical team is experienced and empathetic, and our technology enables them to make data-driven decisions and deliver a superior patient experience. Today we serve patients and employers in New York, San Francisco, and Los Angeles, as well as nationally through our partner clinic network and online.
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SOURCE Kindbody
