I’m firmly convinced that Babel Health is primed for great success. It’s the right product in the right market with the right team at the right time. —Mr. Pacala
Pittsburgh, PA (PRWEB) March 13, 2017
Babel Health, LLC, a provider of an integrated suite of Risk Adjustment software and services to Health Plans, announced the closing of an oversubscribed Bridge round of funding totaling $1.5M. The round was led by an experienced group of investors with strong experience in and market knowledge of the Healthcare IT space. The funding will be used to support Babel’s ongoing product development efforts and to accelerate sales and marketing endeavors.
“We are thrilled that Babel Health’s story of providing innovative, disruptive SaaS products for health plans has resonated with such a strong group of investors,” commented Robert Dunn, Babel’s Chief Executive Officer. “This investment is a testament to our success to date and, more importantly, to the opportunities that lie ahead.”
As part of the investment, Mark Pacala, the lead investor, has joined Babel's Board of Directors. Mr. Pacala has over 30 years' of general management and private equity experience in healthcare and is currently an Operating Partner at Pamplona Capital focused on healthcare investments. “Mark offers tremendous strategic insight into our market based on his extensive experience,” noted Oron Strauss, Babel’s Chairman and Co-Founder. “He is exactly the right person to help us achieve the next level of success.”
Mr. Pacala stated, “I’m firmly convinced that Babel Health is primed for great success. It’s the right product in the right market with the right team at the right time. I look forward to working closely with Bob, Oron, Mark, and the rest of the Babel team to build an excellent company.” Other investors who participated in the round, include Alan Hoops, Executive Chairman of Health Essentials and former CEO of PacifiCare Health Systems and CareMore Health Group; Bilgola Capital; and Babel senior management.
ABOUT BABEL HEALTH, LLC
Babel Health provides an innovative 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 to 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.
Babel was co-founded in late 2014 by Oron Strauss and Mark Tobias, who have been entrepreneurial partners across a range of businesses for 20 years. Robert Dunn joined as CEO in late 2015 with more than 30 years' experience in the healthcare consulting industries. He and the two co-founders comprise the key management team for the company.