 Great to have you here Kate. Thanks to be yeah, it's great to be here We've got some huge Congratulations in order first and foremost Maven has closed and announced on Monday. It's 90 million dollar series e-round So huge congratulations for that Led by you. Yes We are general catalyst We are could not be more thrilled to have led this round and partner with you on this journey And this is a significant investment not only in this funding climate But also as a testament to everything you and your team have accomplished and we're just thrilled And I'd like to start at the beginning of that journey You know where it's slush which which attracts some of the highest potential founders across Europe at the early stage So for you, when did you know you wanted to start Maven and why why this idea? so First of all, it's so great to be here. I was working in London Maven started in London About eight years ago and and I was starting to hear about this conference slush and it seems so cool So eight years later. It's really awesome to be on stage So I started Maven You know eight years ago in London because there was a clear gap in care for women and families Not just in the US but globally You know when you get on that journey of parenthood and so I had just kind of entered my 30s and And I was starting to see a lot of stories from my my friends as they were going through that that family building journey around Infertility postpartum depression miscarriage You know if you were gay you didn't have main core like main fertility benefits through your employer or your you know A lot of the the system wasn't covering kind of you know surrogacy and adoption and those pathways to parenthood And so there was just such an incredible need and it was right at the early stages of digital health And so all these companies, you know, I was working at this venture capital firm in London and all of these companies were coming to pitch Healthcare innovation and no one was talking about women and no one was talking about families And this was such an obvious entry point for for so much of the healthcare journey. And so I thought very naively This is something that I can definitely do for the next five ten twenty years. And so Maven was born Beautiful, there's always a bit of naivete in those moments You need it to push yourself forward and you mentioned I mean, it's been an eight-year journey when you reflect back Are there certain major milestones that you believe led you to this moment now? You know of Maven success. Yes, exactly. Um, so I would say, you know working in health care You know you are go to market has been B to C to B So we we sold the consumer and then we went into business and I know we'll talk about that, right? You know, I think when that first big client really takes a risk on you That's really where and and they say oh, we're going to bring Maven to our population That's really when I think that one of the big milestones occurs. And so for us in 2017 So two years after we launched a fortune 50 bank, you know the global benefits director said Okay, you know, I'm gonna I'm gonna take a chance and bring you on and we were like 30 35 people at the time We're like, oh my god, like, you know, our ACV was like $50,000 and it jumped to you know, it was like a huge multi-million dollar contract Yeah, but that really was an inflection point for us where not only did our entire team go heads down to operationalize and execute on that Contract and we delivered it, you know, I might have an amazing team We delivered it flawlessly, but also from an adventure capital standpoint, you know, Sequoia is one of our amazing investors I know Doug was just talking they let our series be and it was you know, oak It's just amazing healthcare investor. Let our series be with them And so that was also an inflection point in the VC community got it And you would of course Kevin your exposure to that at the beginning of your career You know that quite well you mentioned yourself, you know Maven started as a direct-to-consumer business has since evolved a partner with employers and insurers Can you walk us through that transition because I've heard you say that Starting the business with the consumer first has been a key to your success. So maybe you can expand a bit about that sure so Because I am a patient on the Maven platform. So I have three kids I actually started my pregnancy and parenthood journey with a miscarriage and then since went to have three pregnancies on Maven And so I in some ways, I just wouldn't know how to do it any other way I think building one of the big things you have to look at when you're a founder particularly entering a complicated Market like healthcare is what's your unique kind of insight and what's your unique competitive advantage? And so, you know given that women and families have been so underserved for so long I mean honestly my unique insight was like, how do we build a better system particularly for women? And so and so that's really where You know, we have had a very product-focused company for a very long time And so the thinking was if we can really build a compelling product for consumers There's probably not going to be as many of them on the platform in the beginning because this is largely a B2B market from a Sales standpoint if we build though an amazing product That's going to be our competitive advantage when we walk into a benefits team an employer team or a health plan And we say listen, you know You really should take a bet on us because look at all these engagement metrics Look at all this impact we're having and so again, it takes a while and it took a little bit longer You know, we were mainly we sold our first benefits contracts in the six months after we launched But they were really small and so the first two years most of our users were consumer not coming through the enterprise But it was an we were able to really just continue to hone the product and and uniquely craft it to their needs And and so then by the time the scale started to hit, you know, we had a pretty unique value prop So we were one of the first companies we first company to and this seems so obvious for any women or parents sitting in the room But to bring postpartum and return to work care as part of the core prenatal care model And that was just I mean, it's like obvious need that that members have or you know, we were the one of the first companies Actually, no again I think the first to bring the fertility journey into you know and tie it together with the pregnancy journey and again That's just so obvious because that's what's happening in real life But then when we then we went B2B and we talked about that with the buyers You know, we had these insights but then we had the data to prove it from our products Got it because that's an interesting piece actually in the US because they're obviously your benefits managers your mercers You're well as towers Watson's that that help companies think strategically about which benefits they should choose Were you part of that education for why women's and family health should be part of the conversation and how did you lead some of that dialogue? Oh, yeah, I mean we I think we part of the the go-to market in the beginning. It was very clear We just had to evangelize the problem and so you know We were I think always talking about clinical impact and having a clinical strategy early on is really important So we had a lot of doctors and we had a lot of providers saying, you know This is critical for outcomes. This model is critical and so we didn't have them yet But you know, there was like that we had a plan around how to get them And then we would survey our early members and and kind of tie it to their self-reported data in the app to say look Directionally, this is going in the right direction So we always had that kind of clinical impact story and we just used a lot of patient stories as well to talk about Hey, I had you know, I had a baby and then I had nothing to support me after that or hey I actually really didn't want to go back to work, you know in the US Sadly, we there's no federally mandated paid leave And so there are some companies in the US where people have to go back to work after six weeks now What we see from our European clients, too is on the other side you have 12 month leaves But that also is really really hard for women to go back after being at home for for a year And so they're it's on both sides an issue And so to be able to talk about some of those real patient stories Really helped evangelize kind of the early days and so then what you know, what happens in markets? We went from being in a very kind of we were like the only solution Ty and we're talking about You know this one thing and then all of a sudden all these other companies came into the market Which was great because they put pressure on the buyer But then now you know the most important thing in a more competitive market like we're in today is it's not You know you tell the patient stories, but then bringing it back to the clinical impact in the data Is really where Maven continues to stand apart Would you say that those are the key differentiating factors when a Company or an insurer anyone says, you know, why should we work with Maven? Is it really the data? Is there anything else that you use to say this when you think about the whole Landscape of women's or family health products? Well, it's both the data But I think for particularly for employers employers are looking for breadth So they players are really busy and they they don't want just kind of one-point solution They want, you know, if they don't want just a fertility benefit They want a whole kind of family care platform And so I think what you know for us to just following that member and following that consumer in terms of what they want Has propelled us in our product roadmap to kind of not just stay in one place one area So, you know in our product roadmap, it's always a trade-off between breadth and depth some years We go deep to get the clinical data other years we go broader and so so that's kind of I think also Where Maven stands apart. That's a that's a perfect segue to to talk just a bit about the platform You know when I think about women's and family health broadly There are so many areas that are underserved and those are global issues and we'll talk about that as well and Maven is already addressing gaps in Parenting and pediatrics and fertility and family planning, etc And earlier this year you launched the first platform for you in in menopause How did you decide that menopause was the next product and maybe a bit more broadly? How do you decide which areas to invest in and prioritize? Yeah, it's a great question So actually menopause originated a lot of the global demand originated here in Europe So in the UK, I think about a year ago They had a commission the government did on How menopause shows up in the workplace and how it affects women and so ever since then a lot of Employees at a lot of companies including our own kind of big multinationals. We're starting to say, okay If health equity is truly kind of a a value here and DEI is a value then You know, we're investing a ton in fertility and family building, but what about menopause and so So for us, I mean, it's obvious there's a clear need and because we have so many OBGYNs on our platform They've always as well asked us and so we have a client advisory board and for years We were asking the client advisory board Do you want menopause do you want menopause and that just wasn't at the top of the list and then all of a Sudden in Q1 we asked our client advisory board. Do you want menopause and they're like, yes And it was because a lot of this kind of grassroots demand That originated in Europe that then made its way back to kind of you know, big global benefits teams in the US as well And so, you know because we're a technology company and we have a set of core capabilities We we already had the care delivery. So we already had the OBGYNs, right? We have an in-house content team We have virtual classes. We had all that so we quickly package that up We we built it in four months and then we actually launched it a month ago And we already serve over a million lives much of it is global Over a hundred of our clients bought it. So it was it was, you know, healthcare doesn't move that fast So it was it was kind of an amazing an amazing story and we're projecting, you know Many more clients to adopt it next year. Okay, that's excellent and you mentioned this is an idea that came from You're now launching that in the US but reverse Maven's actually focusing quite a lot on expanding its presence outside of the US you have members already in over a hundred and seventy five countries Can you tell us today a bit more about your global strategy? Sure So global is just also one of those incredible stories where if I if I look back at our numbers and our pipeline and our user base In 2020 it was still I think a lot of companies were talking about global, but it was still in its nascent stages now You know over 60% of our clients offer Maven globally We have some of our big kind of Fortune 50 multi nationals launching Maven globally They just our Microsoft just launched us globally. I think two months ago, which was incredible Yeah, and and just the demand and the uptake I mean we didn't you know It was our first Fortune 50 launching globally and we didn't know what it was gonna look like But we've since now can you have a bunch more launches in a few months and I think what we're seeing Globally is you know fertility and family building benefits similar to the US have also been left out of care models And so it's a complex web of laws where it comes to surrogacy and adoption and IVF You know everything's changing all the time Some IVF is supported publicly others people are going to private clinics surrogacy is illegal in some some countries So there's medical tourism aspects and so for a lot of big multi nationals and and you know Who want one team across the globe? You know, they can't really say okay? We're gonna help our US employees build families, but not right our global so so we have some enormous launches You know, we've grown 10x globally in the past 24 months and we're projecting to grow another 10x in the next 12 months So we're now you know, we have local care advocates around the world. We're now hiring a local Sales team on the ground in the UK But it is just it's it's awesome to see and it's starting with fertility and family building benefits But but then the conversation is more broader right it's broader about parents in the workforce and pregnancy and you know help gender equity at work and some of our clients in Japan Particularly, you know, they they they're all in on return to work because there is they're having you know Big problems around keeping women in the workforce and having senior women So every country is a little bit different, but it definitely get you know It's it's really really exciting to see or and and you started in London. I mean you mentioned it yourself You know, you came up with the idea for maven in London not far from where we are now And then you decided to start the company in the US, you know There are lots of founders here who are probably thinking very carefully about where to build their businesses How did you make that decision at that time? Yeah, so I it's so great to be back here because some of our best friends live in Europe Many of our amazing angel investors are our European Brent Hoberman from first minute and And so, you know, we were in London my husband and I were like, oh my goodness. We love London However, there are two reasons that we moved. I mean, of course, I'm American So was able to move very easily from a visa standpoint But but number one I have three kids today and so personally I wanted to I knew I was gonna have kids on this journey and My parents live an hour for me So my mother is with my children right now and I'm so grateful and so I think that is so important particularly a female founders To make sure if you're gonna have kids on this journey that you get that care team around you so that you know I I miss my kids, of course, but they're really happy with their grandparents reading more sugar than they've had probably in a month So so anyway, so that's number one number two I think for all founders, you know, you have to look at the TAM and the TAM is really what allows you I think to build big businesses in the US healthcare is nearly 20% of GDP Yep, it's a multi trillion dollar market And so it was a pretty obvious thing, you know if product market fit takes a second if you're operating in a big TAM, you know, you can kind of figure it out and so, you know, and also there the US Maybe you have seen that the headlines recently, but you know, Roe v. Wade was just overturned There's always been I think challenges to access to women's health care in the US And so wanted to make sure that, you know, we started there But you know, we signed our first global contracts in 2018 2019. So actually Starting in London has become a big competitive advantage because we lean on our investors We lean on you know, we understand global in a way that I think some of our US competitors do not that's very important It's something, you know, we're very hands-on with our early-stage founders There's a reason that we're in London and in New York and in Boston and in San Francisco and Palo Alto You want to be able to support companies everywhere and making that decision about when you launch in the US is something that we think about very, very carefully And it sounds like you did the same from quite early on And bringing you back maybe to your VC roots as well I mean you're a very active angel investor and I know that making Time for other women who are building companies is also a huge priority for you has been for years What is a frequent piece of advice that you give to early-stage founders when they're starting their journey? Yeah, um, well, first of all, you have to really like what you're doing because it's really hard. Um, I think that, um, you know Probably a Pete my dad's an entrepreneur Um, and so it's been amazing to have his kind of coaching and guidance along the way So some of these with the nuggets of wisdom are his one of the things they said really early on because I think When you're a seed stage founder, you know, everything is just so heavy and the highs are high and the lows are low and You know at one point he was like, you know Nothing and no one is ever as good as you think they are Also, not as bad as you think they are and so I think it's it's um, you know riding those highs and lows and I think the other The other thing that that at least in healthcare has been so important But I would imagine in every industry, you know I think one of the the things about being a founder is that your learning curve has to remain high and you have to remain Humble because you're constantly being thrown at things, you know, that you've never seen before And so for us at maven, um, I I'm an ex journalist actually And so I have a a huge network of advisors We have four board independence which was really important to me across all these different sectors And so I kind of say it's like my network of sources And so when I encounter and it's you know almost every day There's some new situation whether it's a go-to-market Question or a product question or a financial question or just kind of I mean a management question We're you know over 500 people now You know, they're I'm able to ask them and pick up the phone and call them and text them And so um and and then of course having an amazing executive team who who so every decision I make Usually I have inputs from Three to four people who are experts in that field and and that has helped me from the very early days until you know It continues to help me a lot. Maybe we can talk just a bit about team for a minute as well I mean you've been So thoughtful about surrounding yourself with extraordinary people not only from an advisor perspective But on your executive team and frankly among the 500 people at maven Is there any secret sauce to that any thought about building a team? Especially a global one with such a significant strategy Yeah, I mean the the questions around team are are so um, you know There's so many these days because we're in this hybrid work environment now I think though that for us Having values is so important And having values that are co-created by your team and so I think some people kind of think Oh, the founder has to create the values and it's this top-down kind of approach But for us, you know, yes kind of I have a point of view But I also, you know, we just refreshed our values we refresh them every two years I think also hearing from the team hearing what's most important from them, you know has has helped inform them and so Um, and then as you as you kind of have values to be able to lean on them as well If you're announcing a tough decision or or there is an issue say well, you know a value of ours Some of maven values are embrace the service mindset or you know continuously learn keep healthcare human That's been a maven value for eight years And so uh, so I think that's really important and then the other thing um that you know I I personally look at is uh on our executive team But but also our senior leadership team and like the managers of the company that are really leading You know the the charge on a day-to-day basis You know that that incredible growth mindset and humility that they have to have like, you know working in healthcare You have deep expertise and so many people that work in the industry today But for them to be successful at maven and we've had some stories where they haven't been successful You have to come in with an open mind And you have to be able to say oh the way I did something here I might have to do it a little bit differently and then same from tech right We have a lot of people people are from the tech side And you know when they come in to maven 2 the way they did in their old company We want them to come to maven to teach us that but then they need to be open to kind of You know doing things in a new way because we're you know continuing to create a category and so um So anyway, so I think that that growth mindset and humility is something that we even test for in the interview and hiring process Beautiful, it's um, I'm smiling because it's something that general catalyst takes so seriously We talk about growth mindset all the time Um because our business is changing incredibly quickly as well I mean look at this environment that we're in and general catalyst has been around for over 20 years So there are many mds at gc who have seen these cycles and we're able to help our founders think very carefully about it But anyone in this industry be it a founder or an operator or a venture investor has to think very carefully about Growth and change and evolution and you guys have been doing it for a very long time and it's heartening to hear um You mentioned this briefly you you mentioned rovey wade for example There are many depressing headlines across the world when it comes to women's and family health For you at a 10,000 foot overview Are you hopeful and what do you think it takes for us to actually move women's and family health forward? You know, um, I think founders are always optimistic, right? So I am hopeful actually because I think that um You know human ingenuity always sees us through and when bad things happen I think you know rovey wade is just basically in a front to access and health care All the major american medical associations have said this is terrible You know nearly one in four women In the u.s. Get an abortion by the time they're 45 and you know sometimes it's for medical reasons Sometimes it's for private reasons. So it truly is just you know part of the core care model and it and and so I think though that in this moment You also all of the data coming out the clinical data the economic data on on something like this Is is very bad But maybe it's going to take this to kind of you know build a better future and so I I think I am optimistic because At the highest levels of industry in um in america, uh, at least you know, there are people that Are talking about how to change this So I wish it were being changed tomorrow because people are suffering every single day because of this But I do think that we're going to get to a point where there's going to be consensus About you know a better kind of you know system for for women and families and you know, I was I was just actually reading this essay It was from the 1950s. Oh, wow By katherinan porter this great excellent, you know american writer and it was right after the atomic bomb was dropped And it was this horrific time when everyone was kind of questioning the future of humanity and like who we are as a species Right, but I think the whole point was like but then you figure out that you figure out your way out of it And you know you take a step back and then you go forward And so I think all the entrepreneurs here in this room I and and particularly all the entrepreneurs innovating in women's and family health I think the cats out of the bag the doors box has been open and you know We together are going to create a much much better system globally beautiful beautifully said well Thank you for joining us kate for your wisdom for your candor and we're energized to see what happens with maven next We're so thank you to general callus for leading the last round. We could not be happy or so appreciate it great Well, thank you everybody