Babyscripts Secures $6M Series A+ Funding Led by Philips to Expand Virtual Maternity Care Platform

Recently, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that Babyscripts, a virtual care platform specializing in obstetric management, announced the completion of a $6 million Series A+ financing round. The round was led by the Dutch health technology company Philips (NYSE: PHG), with participation from StartUp Health and NueCura Partners.

In 2013, when former Deloitte consultants Anish Sebastian and Juan Pablo Segura founded Babyscripts, their primary objective was to better connect expectant mothers with their physicians. Today, having secured $6 million in new funding, they are once again bridging the gap between reality and their vision.

Over the past few years, Babyscripts has been dedicated to building a clinically validated virtual care platform to help obstetricians and gynecologists (OBGYNs) deliver new models of prenatal care. The Babyscripts app leverages internet-connected devices for remote monitoring, providing a risk-managed experience for managing expectant mothers, enabling physicians to detect risks more rapidly and deliver automated components of care.

Since 2013, Babyscripts has completed six rounds of financing. In May and December 2013, the company closed two seed funding rounds, raising $200,000 and $900,000, respectively. In April 2015, Babyscripts secured another $1 million in seed funding. In September 2016, it completed an angel round, though the amount raised and the investors were not disclosed. In July 2017, Babyscripts closed its first Series A financing round, raising $7.7 million from Ysios Capital. To date, Babyscripts’ total fundraising amounts to approximately $15 million.

Segura, President and Co-Founder of Babyscripts, stated that the regionally focused Babyscripts obstetrics application facilitates communication between physicians and pregnant women at critical moments. Babyscripts will leverage this new funding to expand its user base and extend the capabilities of its virtual care platform beyond prenatal care.

Specifically, the new funds raised by Babyscripts in this round will be allocated for two purposes:

I. Increase market share. Philips' financial investments and international sales network are expected to attract more suppliers to join the Babyscripts platform.

II. Entering the Medicare Market. Babyscripts aims to partner with managed care organizations to offer its app to Medicare beneficiaries, marking a significant shift from its previous focus on the commercial market.

Segura stated that Babyscripts will announce a partnership with one of Washington’s largest managed care organizations in the coming weeks, but he declined to disclose details of the collaboration.

Babyscripts currently has 30 employees and approximately 160,000 users who have contracted with healthcare providers. The company is operating in 20 U.S. states, is currently hiring sales personnel, and is further expanding its market presence on the West Coast.

Prior to this, the startup acquired iBirth, a provider of pregnancy apps, in mid-2018 for an undisclosed sum. Segura stated that the company has integrated iBirth’s products into the Babyscripts platform, with new features scheduled to launch on February 8.

“We have indeed increased the number of postpartum patients using our app, which means Babyscripts will have greater scope for application in the postpartum period and will be able to extend the duration that users remain on the platform after delivery,” said Segura.

Named one of the 25 Most Promising Startups of 2017 by Washington Business Journal, the company sells its application to physicians at approximately $300 per patient. The Babyscripts platform’s technology, combined with the “Mommy Kit” blood pressure cuff, enables expectant mothers to share weight and blood pressure data with their doctors and engage in weekly Q&A interactions.

Philips is a leading health technology company headquartered in the Netherlands. The company is dedicated to providing consumers with comprehensive health care services through healthy lifestyles, as well as disease prevention, diagnosis, treatment, and home care, thereby enhancing people's health and improving healthcare outcomes.

Leveraging advanced technology, extensive clinical experience, and deep consumer insights, Philips continuously launches integrated innovative solutions. The company currently holds a leadership position in the fields of diagnostic imaging, image-guided therapy, patient monitoring, health informatics, and consumer health and home care.

In 2017, Philips’ HealthTech business generated €17.8 billion in sales, employed approximately 74,000 people worldwide, and provided sales and services in more than 100 countries.

StartUp Health was founded in 2011 by Steven Krein and Unity Stoakes, with former Time Warner CEO Jerry Levin serving as Chairman.

Strategic partners and investors include AARP, Aurora Health Care, California Health Care Foundation, Children’s Hospital Colorado, University of Colorado, UCHealth, GE Ventures, Janssen Research & Development, and others.

StartUp Health has built the world’s largest digital health portfolio, comprising more than 200 companies, with investments spanning five continents, 18 countries, and over 60 cities. To date, 12 of its portfolio companies have been acquired by firms such as Intel, WebMD, Under Armour, and Zimmer Biomet.

Since 2012, StartUp Health has raised over $800 million in funding. The company’s diversified portfolio currently consists of 40% “doctorpreneurs,” 30% female founders, and 30% serial entrepreneurs.

NueCura Partners is an angel investment firm founded in 2013 and headquartered in Tennessee, United States. Established by seasoned healthcare industry operators, the company focuses on investments in the healthcare sector and empowers its alliance members to make their own investment decisions.

NueCura Partners aims to identify and invest in companies poised to transform the healthcare industry.