Babel Health, Inc., a Pittsburgh, PA-based provider of an integrated suite of risk adjustment and encounter submission for Medicare/Medicaid/ACA software and services for health plans, completed a $5m Series A financing.
The round was co-led by Draper Triangle Ventures and a strategic healthcare investor, which joined existing investors. In conjunction with the funding, Mike Stubler, Managing Director at Draper Triangle Ventures, and the vice president of strategic investments of the strategic healthcare investment organization, will join Babel Health’s board of directors.
The company intends to use the funds to further invest in the software and services platform, maintain its sales and delivery momentum, and acquire additional talent.
Led by Robert Dunn, President & CEO, Babel Health provides health plans with a SaaS transactional and data management platform to take control of a complex process and access to data in order to solve the business problems inherent to risk adjustment submissions.
The financing builds on the company’s success of the last 12 months, which includes growth of clients and key hires.