Initial Funding Round Led by Memorial Innovation Fund, joined in second round close by Cigna Ventures, Texas Medical Center Venture Fund and Atlantic Health System
Babyscripts, the leading virtual care platform for managing obstetrics, announced today that additional investors have joined its Series B funding raise, adding $7.5M with investments from Cigna Ventures, Texas Medical Center Venture Fund and Atlantic Health System, bringing the Series B raise to $19M to date. The investment is expected to accelerate the roll out of Babyscripts Virtual Maternity Care solution to providers across the U.S., enabling access to end-to-end maternity care across health populations, as well as the development of models specifically designed for payers. Babyscripts has raised a total of $37M to date.
Memorial Innovation Fund led the initial Series B round, joined by Philips and the CU Healthcare Innovation Fund. Banner Health, WellSpan Health, University Hospitals, and the Froedtert & the Medical College of Wisconsin health network are also part of the Series B round through participation in Babyscripts’ Strategic Partner Program earlier this year.
Babyscripts has leveraged its established success in the prenatal and postpartum space to support expansion across the U.S., now managing more than 200K unique pregnancies across 30 states. With this additional funding, Babyscripts will offer providers and payers the best-in-class digital health solution for pregnancy and postpartum care management, building on a wealth of on-the-ground experience and user data to offer the only configurable, fully risk-stratified digital education and remote patient monitoring solution on the market.
Babyscripts’ current offerings allow providers and payers to manage patients and members via risk-based care modules, remote monitoring, and customized content across the maternal health care continuum, from conception up through one year postpartum. Babyscripts’ proven success in increasing patient engagement and improving outcomes, as well as its plans for product development in the payer space in concert with the new investment, optimizing care delivery and enabling better access to care, sites of care, and condition management.
“As a champion for affordable, predictable and simple health care, Cigna understands the importance and value of innovative solutions for maternal health,” said Tom Richards, Cigna’s senior vice president and global lead of strategy and business development. “Babyscripts’ focus on data-driven innovation to continuously improve and develop intelligent digital solutions for health care providers and mothers, and its collaborative approach that engages stakeholders across the health care spectrum, aligns with Cigna’s commitment to enabling better and easier access to end-to-end maternity care for all mothers, improving quality outcomes and making care more affordable for mothers and families.”
“This funding is a confirmation of the need for better solutions in the maternal healthcare space, and validation that our strategic approach to delivering better and more accessible care through technology is working,” says Babyscripts President and Co-founder, Juan Pablo Segura. “We envision a comprehensive solution that will automate and streamline the care delivery process in the near future, that will make it possible to identify patient risk and deliver risk-specific solutions to users all based on data, without the need for administrative input. Our experience in the space coupled with this new round of funding is going to help us usher in this next generation of obstetrics.”
Babyscripts has spent the last seven years building the market’s most extensive clinically-validated virtual care platform allowing OBGYNs to deliver a new model of prenatal and postpartum care. Via a mobile app and internet-connected devices for remote monitoring, Babyscripts offers digital education and risk-specific experiences to allow providers to manage up to 90% of pregnancies virtually, allowing doctors to detect risk more quickly and automate elements of care. Through a unique joint deployment model, the Babyscripts solution incorporates payers, who sponsor the use of the Babyscripts platform at participating sites to identify and triage member risk, improve care coordination and reduce costs, while targeting and reducing systemic racial and ethnic inequities in both maternal and infant outcomes.