Babel Health, LLC, a Pittsburgh, PA-based provider of an integrated suite of risk adjustment software and services to health plans, closed a $1.5M bridge funding round.
Mark Pacala led the investment and joined Babel’s Board of Directors. Mr. Pacala has over 30 years’ of general management and private equity experience in healthcare and is currently an Operating Partner at Pamplona Capital focused on healthcare investments. Other backers included:
– Alan Hoops, Executive Chairman of Health Essentials and former CEO of PacifiCare Health Systems and CareMore Health Group;
– Bilgola Capital; and
– Babel senior management.
The company intends to use the funds for ongoing product development efforts and to accelerate sales and marketing endeavors.
Co-founded in late 2014 by Oron Strauss and Mark Tobias, joined later by Robert Dunn, Chief Executive Officer, Babel Health provides an integrated suite of Risk Adjustment software and services to health plans. The company’s integrated SaaS ETL (extract-transform-load) data management platform provides health plans with control tools of the underlying data for business insight and day-to-day business decision making across all lines of business.