Pomelo Care, a provider for women and children, has raised $92 million in Series C funding to expand its platform beyond maternity care, the company announced on Thursday.
New York City-based Pomelo Care offers pregnancy, pediatric, midlife and women’s health support. Patients receive virtual 24/7 support through the app and gain access to a dedicated care team and customized care plans. It leverages predictive analytics to help clinicians identify issues early and intervene quickly. The company works with payers and employers, and serves 25 million covered lives through commercial and Medicaid health plan partnerships.
The Series C round was led by Stripes and included participation from Andreessen Horowitz, PLUS Capital, Atomico, BoxGroup and SV Angel. The company is now valued at $1.7 billion and has raised $171.2 million in total.
“The power of Pomelo’s amazing product is clear: exceptional patient satisfaction and strong clinical results showing meaningful reductions in pregnancy-related complications,” said Ron Shah, partner at Stripes, in a statement. “We believe Pomelo’s intelligent care platform will power continued rapid growth and product expansion, meeting rising demand from patients and payers with a modern clinical experience and best-in-class operating metrics.”
The funding will help bring Pomelo’s model to more patients and serve women and children through additional life stages beyond pregnancy, according to Marta Bralic Kerns, founder and CEO of Pomelo Care.
“That means investing in our clinical teams, technology platform, and partnerships with health plans and employers so we can serve more women and children with the same level of quality and accountability we deliver today,” she added.
The announcement comes after Pomelo recently launched a midlife care program for women experiencing perimenopause and menopause. It tackles hormonal, metabolic and mental health challenges that arise during this period. Early results show an 88% reduction in symptoms in 60 days and 73% of patients report an increase in productivity from the program.
Peer-reviewed studies on Pomelo Care also show that the company has achieved a 6.8-day reduction in NICU length of stay, 37% reduction in preterm births, 46% reduction in emergency room utilization and 718% higher prenatal depression screening and follow-up rates.
Ultimately, Pomelo Care aims to build the “new national standard for women’s and children’s healthcare, replacing fragmented, reactive care with proactive, integrated, evidence-based care across every life stage,” Kerns said.
“We want to ensure that whether a woman is pregnant, caring for a child, or navigating menopause, she has access to a coordinated medical team that measurably improves her health while also reducing avoidable costs for health plans and employers through fewer ER 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
