Fertility Care And Testing Company Kindbody Secures $32 Million

By Annie Baker ● July 14, 2020
  • Kindbody — a rapidly growing health and technology company providing fertility, gynecology, and family-building care — announced that it has raised $32 million in Series B funding

Kindbody — a rapidly growing health and technology company providing fertility, gynecology, and family-building care — announced that it has raised $32 million in Series B funding. Including this round of funding, the company has raised a total of $64 million.

How does Kindbody work? Kindbody offers end-to-end services from preconception through postpartum, serving as both a provider and network solution. And the company’s offerings cover fertility treatment like IVF and egg freezing as well as gynecology, wellness, and LGBTQ+ services. Plus their approach features direct purchasing and inclusive bundled-rates — which allows Kindbody to offer pricing up to 30% less than other fertility benefits.

This round of funding was led by Perceptive Advisors with participation from existing investors RRE, GV (formerly Google Ventures), and Freemark Capital. And new investors include major private and public healthcare funds Rock Springs Capital, Goodgrower, and Claritas Capital as well as NFP Ventures (the early-stage investment arm of NFP, a leading insurance broker and consultant). Plus the funds will be used to expand Kindbody’s national footprint and build an international presence, through brick-and-mortar locations and a growing “Center of Excellence” (COE) network of partner clinics.

Kindbody utilizes proprietary technology to deliver a seamless member experience and data-driven results at its 180+ Kindbody and COE locations. And the company works with employers as a full-service benefits solution to deliver a premium experience with significant costs savings and directly with patients as an accessible and inclusive provider.

Kindbody’s clinical team is led by Chief Medical Officer Dr. Lynn Westphal (the former head of Stanford Medicine’s Third-Party and Fertility Preservation Program) and Founding Ob/Gyn Dr. Fahimeh Sasan (previously at Mount Sinai). And their corporate team includes President Annbeth Eschbach, Chief Operating Officer Patty Stull, Chief Business and Legal Officer Shilpa Patel, and Chief Financial Officer Debbie Markowitz.

Key Quotes:

“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, utilizing their buying power to control costs. We’re 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’re adding depth to our outstanding team at almost every level.”

— Kindbody Founder and CEO Gina Bartasi

“We’ve followed Gina’s career since her time at Progyny and trust her veteran leadership to not only navigate through the global pandemic, but show tremendous growth. June’s patient volume is up 30% from pre-Covid levels – which speaks to the resilience of the business, and the interest from employers, which we see as a huge opportunity going forward.”

— Ellen Hukkelhoven, Managing Director at Perceptive Advisors.