Pomelo Care raises US$92m at US$1.7bn valuation

Pomelo Care has raised US$92m in Series C funding at a US$1.7bn valuation as it expands its virtual maternity model into wider women’s and children’s healthcare.

The New York-based company, which says it now covers nearly 7 per cent of US births, plans to use the funding to extend its model beyond maternity into reproductive care, paediatrics, perimenopause and menopause.

Founded in 2021, Pomelo delivers 24/7 virtual care through a team of nurses, dietitians, therapists, doulas and providers.

The company partners with health plans and employers, covering more than 25 million lives across the US.

The company claims its model has achieved a 37 per cent reduction in preterm births, a 46 per cent reduction in emergency room visits and a 6.8-day reduction in neonatal intensive care unit (intensive care for newborns) stays.

Marta Bralic Kerns, founder and chief executive of Pomelo Care, said: “Pomelo Care was founded to measurably improve maternal health in the United States.

“We’ve demonstrated that when care is proactive, evidence-based, and accountable, we improve outcomes and costs come down.

“Now, with this funding, we’re taking that proven model beyond maternity to build a system of care that supports women and children throughout their lives, delivering better results across the entire healthcare ecosystem, for patients, payers, providers, and employers alike.”

The company recently launched a midlife care programme addressing perimenopause and menopause, the transitional phases when women’s hormone levels change.

It claims an 88 per cent reduction in symptoms within 60 days and says 73 per cent of patients report increased productivity.

The funding round was led by Stripes, with participation from Andreessen Horowitz, PLUS Capital, Atomico, BoxGroup and SV Angel.

Ron Shah, partner at Stripes, said: “Pomelo has reached national scale at an unprecedented rate, now serving 25 million covered lives through Commercial and Medicaid health plan partnerships across the United States.

“The power of Pomelo’s amazing product is clear: exceptional patient satisfaction and strong clinical results showing meaningful reductions in pregnancy-related complications.”