Venture-Backed Maternal Health Startups and the Maternal Health Crisis

How many venture capital-backed maternal health startups exist in the US and what are their characteristics and purpose? In this cross-sectional study of 172 venture capital–backed maternal health startups identified from 2014 to 2022, $977.5 million was collectively raised during the study period and the health care category raising the most capital was maternal and fetal health diagnostics ($520.1 million). The most common company type was virtual or hybrid wraparound pregnancy care and few startups mentioned health equity or maternal mortality or accepted Medicaid. Results of this study suggest that venture capital–backed startups are filling gaps in pregnancy care delivery and while startups have the potential to facilitate needed innovation, few focus on low-income populations or health equity.

Corresponding Author: Madeline F. Perry, MD, Hospital of the University of Pennsylvania, 423 Guardian Dr, Philadelphia, PA 19104 (mfrancesperry@gmail.com).

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