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Published on: January 12, 2018
Venture-Backed Maternal Health Startups and the Maternal Health Crisis
Madeline F Perry1,2, Kristan Scott1,3, Diana Montoya-Williams1,3
1Leonard Davis Institute of Health Economics, University of Pennsylvania, Philadelphia.
JAMA Health Forum
|July 24, 2026
Summary
Venture capital (VC)-backed startups are innovating pregnancy care, but few address maternal health disparities or equity. Increased funding shows growth, yet focus on underserved populations remains limited.
Area of Science:
- Maternal Health
- Health Technology Innovation
- Venture Capital Investment
Background:
- Substantial maternal health disparities necessitate innovation and investment.
- Venture capital (VC) funding is increasingly directed towards pregnancy health startups.
- Limited research exists on the landscape and focus of VC-backed maternal health companies.
Purpose of the Study:
- To characterize VC-backed pregnancy health startups.
- To evaluate how these startups address identified maternal health challenges.
- To analyze business models, funding, and focus areas of maternal health startups.
Main Methods:
- Cross-sectional study of US-based, VC-funded maternal health startups (2014-2022).
- Inclusion criteria focused on perinatal period companies; exclusions for non-health, pre-pregnancy, infant health, or non-maternal health primary focus.
- Company data sourced from financial databases; website content analyzed via dual-coder content analysis.
Main Results:
- 172 VC-backed maternal health startups raised $977.5 million; 3 companies raised 52% of total funds.
- Virtual/hybrid wraparound pregnancy care was the most common category (34.6%).
- Few startups mentioned health equity (17.3%) or maternal mortality (18.1%); less than half accepted insurance or Medicaid.
Conclusions:
- VC-backed startups are innovating pregnancy care delivery and filling service gaps.
- Despite innovation potential, few startups prioritize low-income populations or explicitly address health equity.
- Further research is needed to align venture capital investments with improving equitable maternal health outcomes.
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