Babel Health Experiences Dynamic Growth in Q2 2018
PITTSBURGH (PRWEB) July 31, 2018
Babel Health, LLC, an innovative provider of an integrated, compliant ETL-based SaaS suite of data management and encounter submission software and services to government health plans, is pleased to announce exceptional growth in the second quarter of 2018. In addition to signing two new clients, Babel Health closed a round of funding totaling $2.45 million and added new staff to support its strategic initiatives.
The financing round includes $1 million in follow-on investments by existing investors, Babel management and founders, as well as $1.5 million from new individual investors and three investment groups: NueCura, 535 Smithfield Partners and Winter Street Ventures. The funds will be used to accelerate product development, maintain world class customer support and ramp up Babel’s already active sales velocity. The raise is a strong validation of the Babel company and product strategy.
“Babel’s extraordinary technology provides an elegant solution for the new challenges faced by health plans in the claims risk adjustment submission process,” stated Don Lazas, MD, Managing Partner of NueCura Partners, LLC. “The company’s superb business and technology leadership and customer-focused strategy are driving accelerated product adoption and capture of market share.”
To support this dynamic growth, Babel Health has hired six new employees in the last six weeks, including a Director of EDI & Configuration, Sr. Developer, Sr. Project Manager, QA Lead, two System Business Analysts and a Sales & Marketing Associate.
“Babel is proud to attract the best and brightest in our industry,” stated Robert Dunn, Babel’s CEO. “Our latest hires have added immediate value and allowed us to sustain our rapid growth while continuing to provide high quality software and services to the government sponsored health plans.”
To learn more about Babel, visit http://www.babelhealth.com.
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ABOUT BABEL HEALTH, LLC
Babel Health provides an innovative, customer-focused approach to the entire risk adjustment submission process for health plans. The company’s integrated SaaS ETL (extract-transform-load) data management platform provides health plans with full transparency and control of the underlying data for business insight and critical day-to-day business decision making across all lines of business. Unlike other solutions in the marketplace, Babel enables its customers to take control of an extraordinarily complex process and provides user-friendly access to the data in order to solve the business problems inherent to risk adjustment submissions. In addition, the Babel team is committed to continually improving our customer’s experience through product enhancements, streamlined processes, clear communication and ethical interactions.
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ABOUT NUECURA PARTNERS, LLC
NueCura Partners, LLC is a Nashville-based angel investment group that focuses on early-stage investment opportunities in the healthcare sector. NueCura is managed by seasoned healthcare business operators and leverages their experience to identify and finance breakthrough technologies and services in the healthcare space. http://www.nuecura.com