Today we announce Kindbody has raised $100 million in new funding, bringing our total funding to $290 million and our valuation to $1.8 billion. We’ve entered the next chapter of reinventing fertility healthcare and we are one step closer to realizing our mission of accessible and affordable fertility and family-building for all. I’m grateful to our dedicated Kindbody team, our investors, clients, patients, and partners. Together, we’ve brought the need for high-quality fertility healthcare to the forefront and we are changing how it’s delivered in this country.
To understand the magnitude of today’s news it’s important to note how far we’ve come. When Kindbody was founded just four years ago, fertility was rarely talked about outside the confines of a doctor’s office. Even then, it was one of the few areas of healthcare discussed with one’s doctor only after there was a problem. We set out to change that by educating and empowering people about their fertility, by making the delivery of fertility care warm and hospitable, and by partnering with employers to provide affordable, high-quality care to their employees.
Infertility is widespread and, for far too long, high-quality fertility care has only been available to a privileged few. We knew the only way we could truly transform the fertility industry and create change is by delivering the care ourselves. As the clinical care providers serving employers and their employees, health plans, and consumers, we are uniquely positioned to decrease cost, improve the patient experience, deliver better health outcomes, and ultimately help people have the family of their dreams.
2022 was a year of significant growth for our company. We added 42 employer clients, including Walmart, and today we are the fertility benefits provider for 112 companies, covering more than 2.4 million lives. We acquired three family-building companies to accommodate growth. We own and operate 31 clinics nationwide and have a world-class medical team, including 34 board-certified (or double board-eligible) reproductive endocrinologists and 52 embryologists, producing industry leading success rates. Our technology is unmatched, including our proprietary electronic medical record system (KindEMR) and Patient Portal, which leads to more efficiency, higher physician productivity, and happier patients who have the ability to access their clinical team and records anytime day or night. The holy grail of healthcare: a truly seamless, digital first patient experience instead of being shuffled through paperwork and multiple care providers.
We’ve made great strides in our mission for accessible, affordable fertility care, but there is still much work to do. We will use our new funds to add ten state-of-the-art clinics in underserved U.S. markets this year, we will continue to invest in our best-in-class technology to better serve our patients and clients, and we will scale operations to further enhance our care model, which is designed to deliver industry-leading clinical outcomes. Fertility healthcare is too important to maintain the status quo. In order to truly effectuate change you must innovate and evolve, and be unwavering in disrupting the existing state of healthcare. That’s what we did when we opened the first design-forward, retail fertility and women’s healthcare clinic; when we brought fertility education courses into the mainstream with our “Fertility 101s”; and when we were the first fertility care company to contract directly with large, self-insured employers to offer care to their employees. With these new funds, Kindbody will continue to shape fertility healthcare’s future: a future where everyone will have the opportunity to become a parent.