Baba Raises $40,000,000 in Series A Funding Led by FirstMark Capital

Baba, a New York-based company that coordinates care for Medicare and Medicaid users, raised $40,000,000 in a Series A funding round led by FirstMark Capital. The round closed on October 20th. The company will use the funds to expand its clinical care teams, advance AI research, extend services to more health plans, and grow value-based contracts. Baba did not disclose its valuation. BRIDGE reported the story. New investors CVS Health Ventures and Valtruis joined the round, along with existing investors General Catalyst, Genius Ventures, and Ground Up Ventures. Baba coordinates care for approximately 70,000,000 Medicare users in the United States. These users must manage their own doctors, hospitals, pharmacies, and benefits. The average user sees 40% more specialists in a year than they did two decades ago.

Family caregivers often share this burden, with over 63,000,000 family caregivers in the United States, an increase of 20,000,000 over the past decade. Baba assigns each patient a dedicated team consisting of a care coordinator and a licensed therapist. This team handles specialist appointments, post-discharge care, behavioral health, in-home support, housing, and transportation. The company also manages insurance appeals, medical equipment procurement, and appointment scheduling on behalf of patients. Baba is developing AI applications, including BabaBench, a benchmark that measures an AI agent's ability to complete long-term patient support tasks without privacy violations or prohibited actions. Unlike many benchmarks that focus on answering questions correctly, BabaBench evaluates an agent's ability to complete tasks ethically and effectively.

The company's research paper was published on arXiv and accepted at the NeurIPS workshop. Baba has supported over 10,000 patients and families nationwide, with more than 100,000 families on its waiting list. In June, the Centers for Medicare and Medicaid Services selected Baba for its ACCESS Model, a 10-year program to evaluate technology-driven chronic care. Baba participates in all four clinical tracks: early and advanced heart, kidney, and metabolic conditions, musculoskeletal issues, and behavioral health. The company collaborates with national health plans, government agencies, academic institutions, and nonprofits, including the American Stroke Association and the Susan G. Komen Foundation.