Health of Babel, Inc -Provider of an Integrated Risk Adjustment and Meeting Submission Suite for Medicare/Medicaid/ACA Health Plan Software and Services-announced completion of the $5 million Series-A funding round Draper Triangle Ventures and a strategic health investor co-led the round and joined existing Babel Health investors with extensive background and experience in the IT healthcare sector.
This latest funding continues Babel Health’s ability to successfully raise investment capital to build on its strategic vision of becoming the gold standard for all risk adjustment in the health plan and meeting submission requirements. This round comes after an initial round of seeds and two successful rounds of convertible notes. The Series-A funding will enable Babel Health to further invest and maintain its sales and delivery momentum, acquire additional talent and quickly develop a roadmap for the industry’s most comprehensive and modern software and services platform.
Draper Triangle Ventures works with dynamic entrepreneurs and technology companies to fund disruptive technologies that shape tomorrow’s world. A strategic health investor finances health technology start-ups and other health-related entities that redefin or create new opportunities within the payer and provider market. Mike Stubler, Managing Director of Draper Triangle Ventures, and Vice President of Strategic Investments of the Strategic Health Investment Organization will join the Board of Directors of Babel Health.
“What we see in the Babel Health offer is a truly innovative solution for health plans that provide services to the Medicare Advantage, Medicaid and ACA markets that need full visibility in – and control – their risk-adjustment processes,” said the strategic healthcare partner.
“Babel has adopted a unique approach to space opportunities and its ability to help easily acquire and target data for transactional and analytical applications in a user-friendly environment has already resulted in significant revenue capture and reduced operating costs for health plans,” added Stubler. “Babel Health provides Draper with the opportunity to invest in an innovative healthcare technology company with a tremendous growth opportunity and a positive impact on cost control in the U. Oh, S Market in health care “That’s right.
“This is a unique investor partnership and a company all based in Pittsburgh, PA. We are changing the market landscape at home while working to build jobs and opportunities in Western Pennsylvania, a region with a strong healthcare footprint and high-quality universities with rich technology talent,” said Robert Dunn, President & CEO of Babel Health.
This funding round builds on the success of Babel Health over the last 12 months, which includes an increasing number of clients, key hires and market momentum.
“Securing the Series-Funding further strengthens our ability to continue developing innovative SaaS technology solutions for health plans,” added Dunn. “Working with future-oriented partners such as Draper Triangle Ventures and our other investors provides a financial foundation for accelerating our strategy of market redefining and providing valuable solutions for health plans. “That’s right.
BABEL HEALTH, INC
Babel Health provides an innovative approach to the overall risk adjustment and meeting submission process for health plans The integrated SaaS transactional and data management platform provides health plans with full transparency and control over the underlying data for business insight and critical day-to-day business decision-making across all business lines. Unlike other solutions on the market, Babel enables its customers to take control of an extremely complex process and provides user-friendly access to data in order to solve the business problems inherent in risk adjustment submissions.
ABOUT DRAPER TRIANGLE SALES
Draper Triangle is an early stage venture capital firm that partners with the most extraordinary entrepreneurs in the Midwest who have set out to change the world. Founded in 1999, Draper Triangle has invested in many of the most successful start-ups in the region, including TOA Technologies, RE2 Robotics, Locomation, OnShift, CardioInsight and Carnegie Learning. DTVC works with early-stage companies to create emblematic and disruptive businesses in emerging markets, including software, robotics, and medical devices.
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