Baba raises $40m Series A led by FirstMark
CVS Health Ventures and Valtruis joined the round as the Medicare care platform prepares to expand into value-based work.
Baba announced a $40m Series A on October 20, led by FirstMark. New investors CVS Health Ventures and Valtruis joined existing backers General Catalyst, Genius Ventures and Ground Up Ventures. The company said the round brought its total funding to $47m.
The capital supports expansion of Baba’s care coordination service and its first value-based care work. Its teams combine advocates and licensed therapists with AI to connect specialist visits, hospital discharges, behavioral health and practical support such as housing and transportation.
Baba’s model depends on following a task through to a care outcome, whether arranging a referral or resolving paperwork with an insurer. The company is developing specialized agents for that work while retaining human experts for care delivery and follow-through. It says it has grown rapidly since its public launch in February.
Use of funds
Expand AI-supported care coordination and begin value-based care work