Kindbody secures US$100m to drive business growth

The US family-building benefits provider Kindbody has raised US$100m in capital to support company growth.

The latest financing brings Kindbody’s total equity and debt funding to more than US$290m, and its valuation to US$1.8bn, becoming the largest women-owned fertility company serving employers and consumers.

The demand for workplace fertility benefits is on the rise, with close to 90 per cent of those experiencing infertility willing to change jobs solely for the benefits.

In 2022, 61 per cent of employers with more than 500 employees provided at least some infertility coverage.

“Infertility is widespread, more common than diseases like cancer or diabetes. Yet, for far too long, high-quality fertility care has been available to only a privileged few,” said Gina Bartasi, founder and chairwoman of Kindbody.

“With the support of Perceptive Advisors, and our other investors, Kindbody is positioned to deliver on our vision to help everyone realise their dream of becoming a parent by making high-quality fertility care affordable and accessible for all.”

She added: “In 2023, Kindbody will sharpen its operations, make strategic acquisitions, and maintain our laser focus on profitable growth.”

The provider was founded in late 2018 to support the healthcare system in the US.

According to its website, Kindbody is the only family-building benefits provider that owns and operates fertility clinics saving employers 25 per cent and 30 per cent by contracting directly with them to provide virtual and in-person care to their employees.

In 2022, it added 42 new employer clients, including Walmart, and is now the fertility benefits provider for 112 companies.

“This team is unstoppable in their vision to reinvent fertility healthcare,” said Sam Chawla, portfolio manager at Perceptive.

“Kindbody’s differentiated care delivery model, focused on exceptional patient experience and outcomes at a reduced cost for employers and patients, positions it to meet the urgent need for better fertility healthcare solutions, making Kindbody an attractive opportunity for us.”