US-based fertility and gynaecology services provider Kindbody has doubled its total funding to $64m with a $32m series B round featuring benefits consulting firm NFP and internet technology conglomerate Alphabet.
Hedge fund sponsor Perceptive Advisors led the round, which was also backed by RRE Ventures, Freemark Capital, Rock Springs Capital, Goodgrower and Claritas Capital. Alphabet’s funding came from corporate venturing subsidiary GV.
Founded in 2018, Kindbody offers services including egg freezing and in vitro fertilisation in addition to gynaecology and wellness treatments, utilising methods like direct purchasing to provide services more affordably.
The startup raised $10m from investors including GV in December 2019, having secured $15m in an April 2019 series A round co-led by RRE Ventures and Perceptive Advisors and backed by Green D Ventures, Trail Mix Ventures and Winklevoss Capital.
Kindbody’s existing investors include TQ Ventures and Centre Street Partners. It will use the series B funding to grow its brick-and-mortar presence in the United States while looking to expand abroad.
Gina Bartasi founder and CEO of Kindbody, said: “You must be in the provision of services – in the actual care delivery business – to effectuate change in member experience, outcomes and costs.
“Sophisticated employers know this and are helping to drive change, utilising their buying power to control costs. We are fortunate to have blue-chip investors to help accelerate this.
“The funds allow us to scale the infrastructure – in terms of people and process – required to execute on large accounts. We are adding depth to our outstanding team at almost every level.”
Photo courtesy of Kindbody.
