Hybrid fertility and reproductive care company Kindbody scored a whopping $100 million from life sciences investment firm Perceptive Advisors, bringing its total raise to $290 million and its valuation to $1.8 billion.
WHAT ITS FOR
Kindbody offers virtual and in-person services, including contraception care, egg freezing, fertility testing, gynecological care, and virtual wellness and coaching services.
The New York-based company touts itself as being the fertility benefits platform for 112 companies, with 42 employer clients including Walmart.
The funding will allow the company to open new clinics in underserved markets in the U.S. and enhance its care model. The company’s founder and chairman, Gina Bartasi, said it will also make strategic acquisitions in 2023.
“With the support of Perceptive Advisors, and our other investors, 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,” Bartasi said in a statement.
In 2022, the company made three acquisitions, first acquiring Vios Fertility Institute, a network of fertility clinics operating in Illinois, Michigan, Missouri, Oregon, Washington and Wisconsin.
It then purchased genomics company Phosphorus Labs, combining Phosphorus’ staff of geneticists and lab technicians with the fertility startup’s KindLabs division.
Lastly, Kindbody announced it acquired Chicago-based surrogacy agency Alternative Reproductive Resources, noting ARR’s employees would work in the company’s KindEOS division, which focuses on egg and embryo donation.
Prior to its acquisitions, the company announced the launch of at-home fertility tests for men and women, which measure hormones associated with reproductive function and health and could be paired with in-person or virtual appointments with a Kindbody physician to discuss the results.