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We are thrilled to announce our $40M Series A led by FirstMark Capital, joined by new investors CVS Health Ventures and Valtruis. We are grateful for the continued support of existing investors General Catalyst, Genius Ventures, Ground Up Ventures, and others. This round brings Baba’s total funding to $47M.
Rebuilding the Medicare experience
For nearly 70 million Americans, Medicare means juggling doctors, hospitals, pharmacies and benefits, and the juggling keeps getting harder. The average patient sees 40% more specialists than two decades ago. Usually a family member holds it together: 63 million Americans are now caregivers, up 20 million in ten years.
Baba is a partner to patients and their families. Every patient gets a dedicated care team of advocates and licensed therapists, backed by AI, that keeps every part of their care connected: specialist visits, hospital discharges, behavioral health, in-home support, housing and transportation. This funding reflects our rapid growth since our public launch in February and lets us race towards our first value-based work.
Health plans need partners, not chatbots
Healthcare organizations cannot hand a general chatbot to their patients and hope for the best. Much of healthcare involves convincing patients to act in their own best interest, when the payoff may be ambiguous and the work to be healthy feels overwhelming. The work requires multi-party alignment on what clinical quality measures matter for a specific person even if they don’t ask for it directly. It also involves the secure and timely exchange of information with parties who are involved in that care and who need to know its outcomes. We’ve learned firsthand that generic AI tools fall short in care coordination— value comes from specialization and seeing hundreds of thousands of patient journeys. That is why we have built the world’s largest reinforcement learning environment for this exact type of work.
Care coordination is inherently long-horizon work: paperwork, insurer calls, billing, follow-through over weeks or months. Partial completion is worthless at best and deeply wasteful at worst. The job is only done when the patient is confirmed to have received the intended outcome, and when an auditor can confirm that no sensitive information was leaked or agentic action went astray. For Baba, that means building agents where appropriate, and relying on our team of hundreds of human experts to go the last mile.
Sophisticated customers require exceptional service, which is why, from day one, we made it our mission to hire the best. Our talent-dense, small team includes former Liquid AI researchers, Ramp designers, Stripe engineers, and Mount Sinai executives, all singularly obsessed with teaching AI to think, reason, and analyze like the best case managers in the country. That combination is what lets us offer advocacy in abundance.
In the fullness of time
Some of the most durable compounders of the AI era will be built in healthcare. Unlike many areas of the economy, healthcare has structural advantages that technology alone cannot easily replicate: state licensure and accreditation, relationships and contracts with health plans, access to patient data, a physical footprint in local communities, and, above all, trust. Those assets create a durable foundation for the value created by better technology to accrue to the provider rather than being competed away.
Historically, the limiting factor in care delivery has been the cost of actually delivering care. AI changes that equation. By dramatically lowering the cost of operating and coordinating care, it creates an opportunity to make care delivery economically viable for populations that have historically been too expensive to serve. For providers that bear responsibility for total cost of care, those efficiencies can translate directly into better economics. The business of Baba is underwriting risk and then changing it for the better. That work is as much probability theory as it is population health and a deep understanding of human behavior.
The result is a much larger addressable market for care. Our opportunity is not simply to make existing care more efficient, but to extend high-quality services to people who have historically been left out because the economics did not work. That means better access and greater affordability, with hundreds of billions of dollars at stake for the teams that can unlock it.
We’re still very early. Today’s models are only starting to handle the routine steps of care coordination, and we’re far from a world where every Medicare patient has a care team that never drops a thread.
If you’re an engineer inspired to tackle frontier AI challenges, we’d love to talk. And if you’re at a health plan or health system institution looking to close gaps for your hardest-to-engage members, let us show you what’s possible.
Thank you to our investors, patients, and customers, and above all, our team. You have achieved so much in such a short time, and done so with grace. The days are long but never dull, and I could not be luckier to bring this to life with you.
