Hybrid fertility and reproductive care company Kindbody scored a $25 million investment from JPMorgan Chase’s business unit focusing on employer-sponsored healthcare, Morgan Health.
Dr. Cheryl Pegus, managing director of Morgan Health Ventures, will join Kindbody’s board of directors.
WHAT THEY DO
The New York-based company offers virtual and in-person services, including egg freezing, contraception care, gynecological care, fertility testing, and virtual wellness and coaching services.
It touts itself as a fertility benefits platform for 112 companies, including Walmart, Lyft and GEICO.
The funds will be used to scale the availability of its platform.
“The barriers associated with fertility make starting or growing a family difficult for millions of Americans. Kindbody’s mission to provide a new fertility experience with their own healthcare professionals and benefits navigation is unique. Their focus on improving access and health outcomes helps mitigate many of the longstanding equity challenges employers and employees face,” Dr. Pegus said in a statement. “I look forward to joining the Kindbody Board and working with the leadership team to meet the health needs for the communities Kindbody serves.”
MARKET SNAPSHOT
Just two months ago, Kindbody scored a whopping $100 million in funding.
In 2021, it raised $62 million in Series C funding, which built on a $32 million Series B raise from July 2020.
Last year, the company made three acquisitions: genomics company Phosphorus Labs, a network of fertility clinics called the Vios Fertility Institute and Chicago-based surrogacy agency Alternative Reproductive Resources.
Other companies in the fertility space include fertility testing company Proov, reproductive benefits manager Carrot Fertility and Nodal, a platform allowing surrogates to connect with intended parents after reviewing their parent profiles.