babyscripts Secures $12M Funding for Virtual Maternity Care

Babyscripts Secures $12 Million Series B Funding to Expand Virtual Maternity Care

Babyscripts, a leading provider of virtual obstetric care, has successfully raised $12 million in the initial closing of its Series B investment round. This capital infusion will be utilized to accelerate the deployment of the company’s virtual maternity care platform to a wider network of healthcare providers.

Investment Details and Previous Funding

MemorialCare Innovation Fund spearheaded the investment, with participation from Philips and the CU Healthcare Innovation Fund. According to Babyscripts co-founder and president, Juan Pablo Segura, this new funding brings the company’s total raised capital to approximately $26 million.

Previously, in 2019, Philips led a $6 million investment in Babyscripts. Segura noted significant advancements within the company since that initial investment.

Evolution of Babyscripts’ Platform

Initially, Babyscripts offered a single product focused on distributing a medical device and mobile application to expectant mothers. This solution enabled the monitoring of blood pressure and the delivery of essential neonatal care information.

Currently, the company provides a range of kits tailored to patient needs, encompassing blood pressure monitoring, weight tracking, and blood sugar level capture. Babyscripts is capable of automating 40% to 50% of routine prenatal care tasks.

Improving Patient Outcomes and Access to Care

The platform proactively alerts physicians to potential health concerns, ensuring optimal health for both mother and baby. Implementation at one medical facility resulted in the creation of nearly 1,000 additional appointment slots annually, allowing obstetricians to prioritize high-risk patients.

Furthermore, Babyscripts addresses broader population health challenges, particularly in light of the pandemic. It provides remote patient monitoring and virtual care solutions for high-risk pregnancies and actively works to mitigate health inequities.

Focus on Medicaid Patients and Addressing Barriers to Care

Over 70% of Babyscripts’ patient base is covered by Medicaid. Recognizing the financial constraints faced by many patients, the company has established partnerships with public health departments, managed Medicaid plans, and providers like Priva Health to facilitate reimbursement at the local level.

Segura emphasized the difficult choices faced by pregnant patients on Medicaid, often forced to choose between prenatal care and essential needs like food. He highlighted that approximately 50% of maternal complications are preventable, but are often linked to outdated care delivery models.

Growth and Expansion During the Pandemic

Babyscripts experienced a tenfold increase in enrollments during the pandemic. This surge in demand prompted the company to seek additional funding to capitalize on emerging opportunities.

The company’s program is currently utilized by 75 health systems across 32 states, monitoring approximately 250,000 women annually.

Future Plans and New Features

Driven by ongoing demand from markets and payers, Babyscripts aims to expand its reach and invest in a robust go-to-market strategy. The new funding will also support the development and launch of new features.

Recent additions include a mental health product, and the company is actively developing a substance use disorder experience. Babyscripts is also establishing infrastructure to collaborate with national payers.

Team Expansion and Geographic Reach

Currently employing 45 individuals, Babyscripts anticipates doubling its workforce within the next 12 to 18 months. Expansion will focus on product development, payer growth, clinical expertise, implementation, and customer success.

The company is committed to becoming available in all 50 states and forging partnerships with additional public health departments and payers.

Investor Perspective and Impact on Maternal Health

Caleb Winder, managing director of MemorialCare Innovation Fund, expressed enthusiasm for Babyscripts’ positive outcomes data and its commitment to addressing high rates of pregnancy complications.

Winder noted that the platform not only reduces wait times at the doctor’s office but also addresses gaps in care. He highlighted the challenges faced by overstretched providers and the limited access to in-person care in many areas, with approximately 50% of counties lacking an OB provider.

Babyscripts enables virtual monitoring and health management for patients regardless of location, and provides timely alerts to clinicians when critical issues arise. Data indicates that preeclampsia is diagnosed 13 days faster using Babyscripts compared to standard care protocols.