Women and family health startup Maven raises $90 million for post-Roe v. Wade world
Founder and CEO of Maven Clinic Kate Ryder, the first female health tech unicorn, valued at $1 billion.
Daniel Zuchnik | Getty Images Entertainment | Getty Images
Maven, the women and family health startup, has raised $90 million in a new fundraising round, and in a tough environment for venture funding.
The round, led by General Catalyst and with CVS Health Ventures, Intermountain Healthcare’s VC arm and European venture firm La Famiglia participating, brings Maven’s total capital raised to $300 million. Maven reached unicorn status last August in a $110 million round right before the bottom dropped out of the tech sector. While the downturn in tech is forcing down rounds for some startups, Maven founder and CEO Kate Ryder said in a blog post the latest deal raised its valuation, albeit slightly, to $1.35 billion.
Maven has benefitted from greater focus on women’s health, particularly since the Supreme Court overturned Roe V. Wade. Ryder recently told CNBC that the company saw a 67% month-over-month increase in opportunities from companies looking for travel benefits, as well as other health-care support for pregnant women, after the SCOTUS decision.
“Because we’re in the market, because we had a platform that we were able to access, we were able to jump up and step up with our products,” Ryder said at the recent CNBC Work Summit.
Maven Clinic has experienced a broader increase in demand for its products over the past two years amid a pandemic and tight labor market, which she attributed to the accessibility of its virtual platform as well as its outspoken support of health equity.
“The overturning of Roe v. Wade created additional inequities in a system already riddled with them, in a country where 50% of counties don’t have an OB-GYN and where maternal mortality rates surpass those of all other developed countries,” she wrote in the blog post.
Maven now reaches 15 million members, a 5x increase from last year, across its 450-plus corporate clients and payers (insurance companies) in over 175 countries, and the platform supports over 30 provider specialties in 30 provider languages. Maven Clinic was ranked No. 19 on the 2022 CNBC Disruptor 50 list.
Maven clients have included Microsoft and L’Oreal. Past fundraising rounds attracted successful American women including Oprah Winfrey, Mindy Kaling, Natalie Portman, and Reese Witherspoon.
Ryder has said in the past that her determination to create Maven came partially as a result of her own medical frustration and trauma. A miscarriage left her feeling “lost, discouraged, and confused why something so painful and physically taxing was considered outside the bounds of traditional healthcare,” she wrote in a blog post.
With the new funding, Ryder said the company needs to be careful about how it scales, but will not be conservative with the cash despite the current economic environment given the need to invest in growth opportunities. “We’re not putting this capital aside for a rainy day,” she wrote on Monday.
Global family benefits growth and Medicaid are two areas that Maven is prioritizing with the new funding. The family benefits will build off of the virtual platform that grew during Covid and include new features for Maven Wallet, the company’s financial reimbursement platform. Additional Medicaid expansion requires “a more localized approach, which must be more deliberate,” Ryder said, “but particularly in the aftermath of Roe, the need has never been greater.”
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The Hers app arranged on a smartphone in New York, US, on Wednesday, Feb. 12, 2025.
Gabby Jones | Bloomberg | Getty Images
Shares of Hims & Hers Health fell 9% in extended trading on Monday after the telehealth company reported second-quarter results that missed Wall Street’s expectations for revenue.
Here’s how the company did based on average analysts’ estimates compiled by LSEG:
- Earnings per share: 17 cents adjusted vs. 15 cents
- Revenue: $544.8 million vs. $552 million
Revenue at Hims & Hers increased 73% in the second quarter from $315.6 million during the same period last year, according to a release. Hims & Hers reported a net income of $42.5 million, or 17 cents per share, compared to $13.3 million, or 6 cents per share, during the same period a year earlier.
For its third quarter, Hims & Hers said it expected to report revenue between $570 million to $590 million, while analysts were expecting $583 million. The company said its adjusted EBITDA for the quarter will be between the range of $60 million to $70 million. Analysts polled by StreetAccount were expecting $77.1 million.
Hims & Hers has faced controversy in recent months over its continued sale of compounded GLP-1s, which are cheaper, unapproved versions of the blockbuster diabetes and weight loss drugs. Compounded drugs can be mass produced when brand-name treatments are in shortage, but the U.S. Food and Drug Administration announced in February that ongoing supply issues had been resolved.
Some telehealth companies, including Hims & Hers, have continued to offer the compounded medications. It’s legal for patients to access personalized doses of the knockoffs in unique cases, like if they are allergic to an ingredient in a branded product, for instance. Hims & Hers has said consumers may still be able to access personalized doses through its site if clinically applicable.
In June, Hims & Hers shares tumbled more than 30% after a short-lived collaboration with Novo Nordisk fell apart. The drugmaker said Hims & Hers “failed to adhere to the law which prohibits mass sales of compounded drugs” under the “false guise” of personalization.
Hims & Hers reported adjusted EBITDA of $82 million for its second quarter, up from $39.3 million last year and above the $73 million expected by StreetAccount.
Hims & Hers will host its quarterly call with investors at 5 p.m. ET.
YTD chart of Hims & Hers Health.
–CNBC’s Annika Kim Constantino contributed to this report
Palantir topped Wall Street’s estimates Monday, surpassing $1 billion in quarterly revenue for the first time, and hiking its full-year guidance.
Shares rallied more than 5%.
Here’s how the company did versus LSEG estimates:
- Earnings per share: 16 cents adj. vs. 14 cents expected
- Revenue: $1.00 billion vs. $940 million expected
The artificial intelligence software provider’s revenues grew 48% during the period. Analysts hadn’t expected the $1 billion revenue benchmark from the Denver-based company until the fourth quarter of this year.
“The growth rate of our business has accelerated radically, after years of investment on our part and derision by some,” wrote CEO Alex Karp in a letter to shareholders. “The skeptics are admittedly fewer now, having been defanged and bent into a kind of submission.”
The software analytics company also boosted its full-year outlook guidance. For the full year, Palantir now expects revenues to range between $4.142 billion and $4.150 billion, up from prior guidance of $3.89 billion to $3.90 billion.
For the third quarter, Palantir forecast revenues between $1.083 billion and $1.087 billion, beating an analyst estimate of $983 million. Palantir also lifted its operating income and full-year free cash flow guidance.
Palantir’s U.S. revenues jumped 68% from a year ago to $733 million, while U.S. commercial revenues nearly doubled from a year ago to $306 million.
The software analytics company has seen a boost from President Donald Trump‘s government efficiency campaign, which included layoffs and contract cuts. Palantir’s U.S. government revenues jumped 53% from the year-ago period to $426 million.
“It has been a steep and upward climb — an ascent that is a reflection of the remarkable confluence of the arrival of language models, the chips necessary to power them, and our software infrastructure,” Karp wrote in a letter to shareholders.
During the quarter, Palantir said it closed 66 deals of at least $5 million and 42 deals totaling at least $10 million. Total value of its contracts grew 140% from last year to $2.27 billion.
Net income rose 144% to about $326.7 million, or 13 cents a share, from about $134.1 million, or 6 cents per share a year ago.
Palantir shares have more than doubled this year as investors bet on the company’s AI tools and contract agreements with governments.
Its market value has accelerated past $379 billion and into the list of top 20 most valuable U.S companies, surpassing Salesforce, IBM and Cisco to join the top 10 U.S. tech companies by market cap. Shares hit a new high Monday.
At its size, buying the stock requires investors to pay hefty multiples.
Shares currently trade 276 times forward earnings, according to FactSet. Tesla is the only other top 20 with a triple-digit ratio at 177.
Palantir one-day stock chart.
Firefly Aerospace CEO Jason Kim sits for an interview at the Firefly Aerospace mission operations center in Leander, Texas, on July 9, 2025.
Sergio Flores | Reuters
Firefly Aerospace has lifted the share price range for its upcoming initial public offering in a move that would value the space technology company at more than $6 billion.
The lunar lander and rocket maker said in a filing Monday that it expects to price shares in its upcoming IPO between $41 and $43 apiece.
Firefly’s new target range would raise nearly $697 million at the top end of the range. That’s up from the previously expected $35 to $39 price per share that Firefly announced in a filing last week, which targeted a $5.5 billion valuation.
Firefly announced plans to go public last month as interest in space technology gains steam, and billionaire-led companies such as Elon Musk‘s SpaceX rake in more funding.
The industry has also begun testing the public markets after a long hiatus in IPO deal activity, with space tech firm Voyager debuting in June.
Firefly makes rockets, space tugs and lunar landers, and is widely known for its satellite launching rockets known as Alpha.
The company has partnered with major defense players such as Lockheed Martin, L3Harris and NASA, and received a $50 million investment from defense contractor Northrop Grumman.
Firefly’s revenues jumped from $8.3 million a year ago to $55.9 million at the end of March, the company said. Its net loss grew to $60.1 million, from $52.8 million a year ago.
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