US-based fertility and gynaecology services provider Kindbody received $62m on Friday in a series C round backed by GV, a corporate venturing subsidiary of internet and technology group Alphabet.
Claritas Health Ventures, a healthcare-focused subsidiary of investment firm Claritas Capital, led the round, which included Monashee Investment Management, Eldridge, Bramalea Partners, Perceptive Advisors, RRE Ventures and Rock Springs Capital.
Founded in 2018, Kindbody provides a range of fertility services including egg-freezing, sperm donation and in vitro fertilisation, in addition to general gynaecological care.
The capital injection will support the acceleration of the company’s growth and the further development of its proprietary technology as well as widening its access to third-party clinics.
Gina Bartasi, CEO of Kindbody, said: “Creating change in healthcare is hard, time-consuming and expensive to do right. We are fortunate to have a committed group of investors who see the opportunity to disrupt a market in desperate need of innovation the way we do.”
The round valued Kindbody at $612m and increased its overall funding to $122m. It secured $32m in a series B round in July 2020 that was led by Perceptive Advisors that also featured GV, RRE Ventures, Freemark Capital, Rock Springs Capital, Goodgrower and Claritas Capital.
The company had previously raised $10m from investors including GV in December 2019, after RRE Ventures and Perceptive Advisors co-led a $15m in series A round in April that year backed by Green D Ventures, Trail Mix Ventures and Winklevoss Capital. Its existing investors also include TQ Ventures and Centre Street Partners.