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Maven Clinic raised $27M Series B led by Sequoia and Oak

Anu Duggal · 20VC: Top 3 Considerations When Evaluating Consumer Businesses Today | 700 Meetings, 70 LPs, 2 Years, What It Takes To Raise a First Time Fund| The Power of The Female Network In Action Today with Anu Duggal, Founding Partner @ Female Founders Fund · Dec 10, 2018 · at 16:13

Anu Duggal, Founding Partner at Female Founders Fund, explains how founder introductions led to Maven Clinic securing a $27 million Series B round from Sequoia Capital and Oak HC/FT.

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“Similarly, this fall, one of our companies, Maven Clinic, was raising a Series B and made an intro to Jess Lee at Sequoia, which resulted in a twenty-seven million dollar Series B that was led by both Sequoia and Oak.”

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Insight
Duggal: All-male partner teams signal exclusive culture and limit deal flow
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Assertion Supported
Female Founders Fund pioneered tracking female founder Series A funding data
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Anu Duggal Dec 10, 2018 ▶ 18:14 20VC: Top 3 Considerations When Evaluating Consumer Businesses Today | 700 Meetings, 70 LPs, 2 Years, What It Takes To Raise a First Time Fund| The Power of The Female Network In Action Today with Anu Duggal, Founding Partner @ Female Founders Fund
Disclosure
Duggal took 700 meetings and two years to raise $5.85M Fund I
“Fundraising for fund one was incredibly difficult, and I think that's a very similar story to other first-time fund managers. So over 700 meetings, over 70 LPs for a 5.85 million dollar fund over a two-year process.”
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Disclosure
Lightspeed Ventures invested as an LP in Female Founders Fund II
“The other thing that helped for our second fund was that Lightspeed Ventures was an LP of ours, which has been tremendously helpful and validating for traditional institutional LPs.”
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