Pomelo Care, a provider of services for women and children, announced Thursday that it has raised $92 million in Series C funding to expand its platform beyond maternal care.
New York City-based Pomelo Care provides pregnancy, pediatric, midlife and women's health support. Patients receive virtual 24/7 support through the app and receive a dedicated care team and customized care plan. It uses predictive analytics to help clinicians detect problems early and intervene quickly. The company works with payers and employers to serve 25 million people through commercial and Medicaid health plan partnerships.
The Series C round was led by Stripes, with participation from Andreessen Horowitz, PLUS Capital, Atomico, BoxGroup and SV Angel. The company is currently valued at $1.7 billion and has raised a total of $171.2 million.
“The power of Pomelo's amazing product is clear: superior patient satisfaction and strong clinical outcomes demonstrating significant reductions in pregnancy-related complications,” Stripes partner Ron Shah said in a statement. “We believe Pomelo's intelligent care platform will drive continued rapid growth and product expansion, meeting the growing needs of patients and payers with modern clinical experiences and best-in-class operational metrics.”
Pomelo Care founder and CEO Marta Bralic Kerns said the funding will help bring Pomelo's model to more patients and serve women and children during other stages of life after pregnancy.
“That means investing in our clinical teams, technology platforms and partnerships with health plans and employers so that we can serve more women and children with the same level of quality and accountability that we provide today,” she added.
This follows Pomelo’s recent launch of a midlife care program for women in perimenopause and menopause. It addresses the hormonal, metabolic and mental health challenges that arise during this period. Early results show an 88% reduction in symptoms within 60 days, and 73% of patients reported an increase in productivity from the program.
Pomelo Care's peer-reviewed research also shows that the company has reduced NICU length of stay by 6.8 days, reduced preterm birth rates by 37%, reduced emergency room use by 46%, and increased prenatal depression screening and follow-up rates by 718%.
The ultimate goal of Pomelo Care is to establish “a new national standard in women's and children's health care, replacing fragmented, reactive care with proactive, comprehensive, evidence-based care across life stages,” Kerns said.
“We want to ensure that whether a woman is pregnant, caring for a child or going through menopause, she has access to the support of a coordinated care team that can significantly improve her health while reducing avoidable costs for health plans and employers through fewer emergency room visits, fewer complications and better preventive care,” she said.
Other virtual women's health companies include Maven Clinic and Midi Health.
Photo: TAW4, Getty Images
