Hybrid fertility clinic Kindbody added $100M in funding, notching a $1.8B valuation.
A New Era
Following a busy five years, the fresh capital from life sciences firm Perceptive Advisors will support a new era of growth.
Starting out. Founded in 2018, Kindbody has raised $290M in equity and debt funding to deliver conception care, egg freezing, fertility testing, and virtual wellness services.
Scaling up. Earning approximately half its revenue from employers, Kindbody is the fertility benefits provider for 112 companies, covering more than 2.4M lives.
Meeting patients in person, the company plans to add 10 new brick-and-mortar clinics this year, bringing its total to 41 nationwide.
Advancing its mission, Kindbody founder and chairwomen Gina Bartasi said the company is focused on increasing access while pursuing profitable growth:
“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… 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.”
Dealmaking. Having already acquired Vios Fertility Institute, Phosphorus Labs, and Alternative Reproductive Resources, Kindbody’s latest investment will fuel additional M&A in the digital health and fertility space as well.
Reimagining Fertility Care
With more entrepreneurs and investors targeting the fertility tech sector, Kindbody will compete with publicly traded Progyny (where Bartasi was founder and CEO) and fast-growing upstarts like Maven Clinic and Future Family among others.
Meanwhile, comprehensive digital health platforms like Ro will continue making inroads — the company acquired at-home diagnostic startup Modern Fertility in 2021 and sperm testing brand Dadi last year.
Looking ahead: Bartasi told Axios this will be the “last money in” as Kindbody nears positive cash flows ahead of a 2024 IPO.