Materna Medical Collects $20 Million in Series B2 Financing

Materna Medical Inc. has completed the first close of a $20 million Series B2 financing round led by InnovaHealth Partners and participation from other key existing investors, including Wavemaker Three-Sixty Health, Kimera Limited, Women’s Venture Capital Fund, Golden Seeds, Band of Angels, and Houston Angel Network.

“Materna is a first mover, aiming to transform the standard of care in labor and delivery. Imagine a world in which women aren’t injured while delivering vaginally,” Materna Medical CEO Tracy MacNeal said. “Our nation’s maternal health crisis is a clarion call for new obstetrical technologies, and Materna is leading the way.”

The company has successfully reached several key milestones, including obtaining over-the-counter U.S. Food and Drug Administration (FDA) clearance for its first commercial product, the Milli Vaginal Dilator. Additionally, clinical data from an expanded feasibility study of Materna’s second product, Materna Prep, shows substantial promise in the potential to reduce pelvic floor injury rates for women delivering vaginally.

“We are pleased with the company’s progress, excited about the feasibility data and look forward to its publication later this year,” stated Dr. Ariella Golomb, Materna’s board chairperson and partner at InnovaHealth Partners. “The funds from Series B2 will be used to obtain FDA marketing authorization for Materna Prep and support the commercial launch of this technology.”

Materna Medical is an OBGYN platform company with core technologies addressing unmet needs in women’s pelvic health. With headquarters in Mountain View, Calif., Materna pulls from the top minds in medtech to transform the standard of care in OBGYN. The firm’s first product, Milli, is vaginal dilator to support patients suffering from vaginismus and related painful sex. In 2019, the Milli device launched as a wellness trainer and, in 2023, received FDA clearance to sell over the counter, enabling streamlined access to people suffering from vaginismus. Milli outcomes are being studied in a post-market prospective virtual study named POMPOM. Materna’s second product, Materna Prep, is an investigational device used during labor and is intended to reduce pelvic floor muscle injury during vaginal delivery. This product is being studied in the EASE trial, a large, randomized controlled trial running in 20 top U.S. hospitals. Materna aims to transform the standard of care in labor and delivery by protecting pelvic floor health for mothers.