Babyscripts, a virtual maternity care app provider, has raised $12 million in Series B funding.
MemorialCare Innovation Fund, a strategic healthcare investment arm of MemorialCare Health System’s led the funding round.
Other investors participating in the latest round include Philips, the CU Healthcare Innovation Fund, Banner Health, WellSpan Health, University Hospitals, and the Froedtert & the Medical College of Wisconsin.
The startup has raised $20 million to date.
“The pandemic exacerbated existing disparities in maternal health while showcasing the effectiveness of digital tools for managing pregnancy and equalizing care,” said Caleb Winder, managing director of MemorialCare Innovation Fund.
“Babyscripts improves access to care for patients and reduces cost for the health system and insurance plan by connecting payer, provider and patient together through its virtual platform, managing patient and member health and collecting and communicating actionable data around risk with the goal of reducing maternal mortality and morbidity.”
Babyscripts offers a virtual maternity care app that connects expectant mothers with their doctors. The app delivers education and resources to support the pregnancy and postpartum journey.
The app also allows users to track their weight, offers comprehensive blood pressure and mental health monitoring through connected devices. It alerts clinicians if a high risk is detected so that they can intervene if needed.
Maternal mortality in the U.S. worsened between 2018 and 2019. According to the Centers for Disease Control and Prevention, the maternal mortality rate was 20.1 deaths per 100,000 live births in 2019, significantly higher than the 17.4 in 2018.
Babyscripts plans to use the funds to expand its services to providers across the U.S. and develop more offerings for payers. The company now manages 200,000 pregnancies across 30 states.
Telehealth companies raised a record $5 billion in 1H 2021, a 150% increase year-over-year compared to $2 billion raised in 1H 2020, according to the recently released Mercom’s 1H 2021 Digital Health Funding and M&A Report.