Babel Health Raises $5M

Babel Health , a provider of an integrated suite of risk adjustment and encounter submission for Medicare/Medicaid/ACA software and services for health plans, announced it has completed a $5m Series A round of financing. Draper Triangle Ventures and a strategic healthcare investor co-led the round, and have joined existing Babel Health investors with extensive background and experience in the healthcare IT space.

This latest funding continues Babel Health’s ability to successfully raise investment capital to build out its strategic vision of becoming the gold standard for all of a health plan’s risk adjustment and encounter submission requirements. This round comes after an initial Seed round and two successful convertible notes rounds. The Series-A financing will enable Babel Health to further invest and maintain its sales and delivery momentum, acquire additional talent, and rapidly build out a roadmap resulting in the most comprehensive and contemporary software and services platform in the industry.

Draper Triangle Ventures works with dynamic entrepreneurs and technology companies to fund disruptive technologies that shape the world of tomorrow. The strategic healthcare investor finances health technology startups and other health-related entities that redefine or create new opportunities within the payer and provider market. 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.

This round of financing builds on Babel Health’s success of the last 12 months, which includes a growing roster of clients, key hires and market momentum.