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- Kindbody
Kindbody Revenue, Valuation, Funding & Investors
Kindbody is valued at $612M as of June 2021, a 3.4x multiple on its last reported $180M revenue.
Last Kindbody valuation
$612M
Series C · Jun 2021
Last Kindbody funding round
$25M
Undisclosed stage · May 2023
Kindbody revenue
$180M
Series C · Jun 2021
Key investors in Kindbody
GV
What If Ventures
RRE Ventures
Perceptive Advisors
Rock Springs Capital
Centre Street Partners
About Kindbody
Kindbody is a New York-headquartered network of fertility clinics and employer benefits provider operating in 20 U.S. cities. Services encompass IVF, egg freezing, genetic testing, surrogacy, and adoption support through in-clinic, mobile, and virtual care. Partnering with employers like Amazon and Google, it covers millions of lives with comprehensive family-building programs.
Founded
2018
HQ
Website
Status
Privately held
Customer focus
B2B
Revenue model
Services
Revenue
$180M (Jun 2021)
Valuation
$612M (Jun 2021)
Kindbody Valuation
Kindbody is currently valued at $612M, based on its Series C in June 2021.
The $62M round was led by Claritas Health Ventures, with participation from GV, RRE Ventures, Bramalea Partners, Offline Ventures, Monashee Investment Management and 4 other investors.
Kindbody valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Jun 2021 | Series C | $612M | 3.4x |
Kindbody Revenue
Kindbody's latest recorded revenue is $180M, as of its Series C in June 2021. At a $612M valuation, that implies a 3.4x revenue multiple.
Kindbody revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Jun 2021 | $180M | $612M | 3.4x | Series C |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Kindbody Funding History
Kindbody has raised a total of $206M across 9 funding rounds.
Kindbody's first fundraising round was a $2M seed round in February 2018. The most recent completed round was a $25M undisclosed-stage round in May 2023.
Kindbody funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| May 2023 | Undisclosed stage | Morgan Health (lead); What If Ventures; Parkway Venture Capital | $25M | - | Kindbody is a New York-based fertility clinic network and family-building benefits provider offering in-person, virtual, and home-based services including IVF, egg freezing, LGBTQ+ family building, gynecology, and nutrition consultations. It contracts directly with employers like Walmart, Lyft, and Geico, employs its own doctors, and operates clinics, differentiating it from competitors like Carrot Fertility, Maven Clinic, and Progyny. In May 2023, Kindbody raised $25 million in a Series D - II or Series Unknown round led by Morgan Health, with participation from Parkway Venture Capital and others, to expand its clinic network, improve service delivery, and scale family planning services. This followed a March 2023 $100 million debt financing round led by Perceptive Advisors at a $1.8 billion valuation, bringing total funding to approximately $306-315 million across multiple rounds. At the time of the March 2023 round, Kindbody served benefits to 112 companies, saw about 7,200 patients monthly, and projected EBITDA- and cash-flow-positive status for 2023. Later reports indicated Kindbody was on track for $180 million in revenue for fiscal year 2023 (50% organic YoY growth), with 2024 guidance of $270-300 million, EBITDA positive in 2024, and free cash flow positive in late 2024 or early 2025. The company had made acquisitions like Vios Fertility Institute in 2022 to expand its footprint and capabilities in genetic testing and surrogacy. Morgan Health, a JPMorgan Chase division focused on employer-sponsored healthcare innovation, invested due to Kindbody's in-house clinical model providing comprehensive fertility support. Dr. Cheryl Pegus from Morgan Health joined the board. |
| Sep 2022 | Series C | GV; Perceptive Life Sciences; G9 Ventures; Distributed Ventures; Squarepoint Capital; What If Ventures | $27M | - | Kindbody is a New York-based hybrid fertility clinic operator and employer benefits provider offering bundled services including IVF, egg freezing, fertility consultations, nutrition, and virtual therapy. It partners with employers to deliver reproductive care, emphasizing transparency, convenience, and improved outcomes through integrated payer-provider model. As of March 2023, it served 112 companies, saw 7,200 patients monthly, with 88% female physicians and over half BIPOC. On September 6, 2022, Kindbody raised $26.67 million in a Series C-III round from investors including Distributed Ventures, G9 Ventures, GV, Perceptive Life Sciences, Squarepoint Capital, and What If Ventures. This followed a Series C-II in March 2022 and preceded a $100 million Series D in March 2023 led by Perceptive Advisors at a $1.8 billion valuation, bringing total funding over $290 million at that time. The company planned expansions including acquisitions of virtual health and fertility firms and new clinics in cities like Seattle, Brooklyn, and Miami post-Series D. Chair Gina Bartasi noted projections for EBITDA- and cash-flow-positive status in 2023, with IPO readiness targeted for 2024 market recovery. Kindbody competed in a booming fertility sector, with startups raising record $424 million in Q4 2021 per Rock Health. Total funding reached $307 million across 13 rounds by May 2023, including a follow-on Series D-II of $25 million. |
| Mar 2022 | Undisclosed stage | What If Ventures | $29M | - | - |
| Jun 2021 | Series C | Claritas Health Ventures (lead); GV; RRE Ventures; Bramalea Partners; Offline Ventures; Monashee Investment Management; Rock Springs Capital; Eldridge Industries; What If Ventures; Perceptive Advisors | $62M | $612M | Kindbody is a vertically integrated fertility healthcare provider combining brick-and-mortar clinics, mobile fertility testing units, and telehealth services. The company generates revenue through direct-to-consumer fertility services and employer-sponsored fertility benefits programs. In June 2021, Kindbody closed a Series C funding round, raising $62 million led by Claritas Health Ventures with participation from other investors including Google Ventures, Perceptive Advisors, and RRE Ventures. The round valued the company at $612 million post-money. The capital was intended to accelerate growth and expand the clinic network. By 2023, Kindbody had scaled significantly, raising additional funding including a $100 million debt financing round in March 2023 and a subsequent Series D-II round in May 2023, with the company valued at $1.8 billion by that time. |
| Jul 2020 | Series B | Perceptive Advisors (lead); GV; RRE Ventures; NFP; Goodgrower; Rock Springs Capital; Claritas Capital; Freemark Capital; NFP Ventures | $32M | - | - |
| Dec 2019 | Series A | GV (lead); Recharge Capital | $10M | - | Kindbody raised $10 million in a Series A extension round in December 2019 led by Google Ventures (GV). This followed an initial Series A of $15-22.5 million in April 2019 led by Perceptive Advisors and RRE Ventures. The 2019 funding supported expansion of clinic locations and investment in technology. Kindbody, founded in 2018, operates as a hybrid fertility clinic providing fertility benefits, conception care, egg freezing, testing, and virtual wellness services to employers and consumers. The company aimed to improve patient experiences and accessibility through digital tools and clinic operations. Investors in early rounds included GV, Perceptive Advisors, RRE Ventures, and Trail Mix Ventures. |
| Apr 2019 | Series A | Perceptive Advisors (lead); RRE Ventures (lead); Green D Ventures; Centre Street Partners; Alumni Ventures; Rogue VC; Winklevoss Capital; TMV | $15M | - | - |
| Aug 2018 | Seed | Marco DeMeireles (lead); Marc Mezvinsky; Leandra Medine; Centre Street Partners; Rogue VC; Halle Tecco; Vivek Garipalli; TQ Ventures; Nat Turner; Chelsea Clinton | $4M | - | - |
| Feb 2018 | Seed | Techammer | $2M | - | - |
Who has invested in Kindbody?
37 investors have backed Kindbody across its funding rounds, including GV, What If Ventures, RRE Ventures, Perceptive Advisors, Rock Springs Capital and Centre Street Partners.
Lead investors include Morgan Health, Claritas Health Ventures, Perceptive Advisors, GV, RRE Ventures and 1 other investor.
Kindbody Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 4 | Lead | Dec 2019 | ||
| 4 | Participant | Jun 2021 | ||
| 3 | Lead | Apr 2019 | ||
| 3 | Lead | Apr 2019 | ||
| 2 | Participant | Aug 2018 | ||
| 2 | Participant | Aug 2018 | ||
| 2 | Participant | Jul 2020 | ||
| 1 | Lead | Aug 2018 | ||
| 1 | Participant | Aug 2018 | ||
| 1 | Participant | Aug 2018 | ||
| 1 | Participant | Sep 2022 | ||
| 1 | Participant | Feb 2018 | ||
| 1 | Participant | Jul 2020 | ||
This data is available for Pro users. Sign up to see all 37 Kindbody investors. Start Free Trial | ||||
Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
Sign up to see data on 350K+ funding rounds and disclosed revenue and EBITDA valuation multiples, from seed, through growth stage, to pre-IPO.
Start Free TrialAcquisitions by Kindbody
Kindbody has acquired 3 companies to date.
Last acquisition by Kindbody was on August 1st 2022. Kindbody acquired Alternative Reproductive Resources for undisclosed valuation.
Latest Acquisitions by Kindbody
| Description | Alternative Reproductive Resources is a Chicago-based agency matching intended parents with egg donors and gestational surrogates through a database of over 20,000 pre-screened profiles. They facilitate IVF cycles at clinics like Shady Grove Fertility and Northwestern Medicine, handling legal contracts under Illinois and California surrogacy laws. Services include psychological evaluations, medical matching via genetic screening, and post-birth support, serving clients from the US, Canada, and Europe with success rates above 70 percent per embryo transfer. | Phosphorus is a New York-based genomics company offering clinical-grade genetic testing via next-generation sequencing. Its tests cover hereditary cancer, carrier screening, and whole-genome analysis, accessible through physicians, hospitals, and direct-to-consumer channels. The CLIA/CAP-certified lab operates in all 50 US states with pharmacogenomics panels. | Vios Fertility Institute is a Chicago-headquartered network of fertility clinics offering IVF, egg freezing, genetic testing, and personalized reproductive treatments. With locations in Illinois and Indiana, the institute employs reproductive endocrinologists using technologies like PGT-A and time-lapse imaging. Vios reports success rates above national averages, serving patients through its app-integrated care model. |
| HQ Country | |||
| HQ City | Chicago, IL | New York City, NY | Chicago, IL |
| Deal Date | 1 Aug 2022 | 7 Jun 2022 | 1 Feb 2022 |
| Valuation | undisclosed | undisclosed | undisclosed |
| EV/Revenue | |||
| EV/EBITDA | |||
This data is available for Pro users. Sign up to see all Kindbody acquisitions and their M&A valuation multiples. Start Free Trial | |||
Kindbody Competitors
Kindbody competitors include listed companies like GoodRx and Hapvida, and private ones like Grand Rounds, Buoy Health, DUOS and Found.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $797M | $173M | $1.2B | 1.8x | ||
| Private | - | - | $1.3B | - | ||
| Private | - | - | $200M | - | ||
| Private | $28M | - | $600M | 21.4x | ||
| Private | - | - | $600M | - | ||
| Publicly listed | $6.1B | $787M | $599M | 0.3x |
Kindbody Public Comps
Kindbody is still privately-owned, but its public comps include Hapvida, Guiyang Longmaster, Medley Inc., Evolent Health, Talkspace, Eurowag, Value HR, MetropolCard, American Well and Personal Group Holdings.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $6.1B | $787M | 0.3x | 0.3x | 2.7x | 4.0x | |||
| $44M | $5M | 10.0x | - | 87.9x | - | |||
| $236M | $32M | 2.1x | 1.8x | 15.7x | 13.2x | |||
| $1.9B | ($365M) | 0.7x | 0.5x | (3.5x) | 9.4x | |||
| $229M | $6M | 3.4x | 3.4x | 129.3x | 49.4x | |||
| $2.7B | $119M | 0.5x | 3.0x | 10.3x | 7.5x | |||
| $65M | $9M | 4.4x | 4.1x | 30.9x | - | |||
| $42M | $21M | 4.2x | - | 8.6x | - | |||
This data is available for Pro users. Sign up to see all Kindbody competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Kindbody
| When was Kindbody founded? | Kindbody was founded in 2018. |
| Where is Kindbody headquartered? | Kindbody is headquartered in New York City, NY, United States. |
| Is Kindbody publicly listed? | No, Kindbody is a private, VC-backed company. |
| What is Kindbody's valuation? | Kindbody was last valued at $612M in its Series C in June 2021. |
| How much funding has Kindbody raised? | Kindbody has raised $206M across 9 funding rounds. |
| What was Kindbody's last funding round? | Kindbody's last funding round was a $25M undisclosed-stage round in May 2023, led by Morgan Health. |
| Who are Kindbody's investors? | Kindbody's investors include GV, What If Ventures, RRE Ventures, Perceptive Advisors, Centre Street Partners, Rogue VC, Rock Springs Capital, Marco DeMeireles, Marc Mezvinsky, Leandra Medine and 27 others. |
| What is Kindbody's revenue? | Kindbody's latest recorded revenue is $180M (June 2021). |
| What is Kindbody's revenue multiple? | Kindbody's latest valuation implies a 3.4x revenue multiple ($612M valuation on $180M of revenue). |
| Which companies are comparable to Kindbody? | Companies comparable to Kindbody include GoodRx, Grand Rounds, Buoy Health, DUOS, Found and Hapvida. |
| How many companies has Kindbody acquired? | Kindbody has acquired 3 companies, including Alternative Reproductive Resources, Phosphorus and Vios Fertility Institute. |
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