Maternity-focused digital health company Diana Health secured $34 million in Series B funding led by Norwest Ventures Partners, bringing its total raise to $46 million.
Existing investors LRVHealth and .406 Ventures participated in the round, as did AlleyCorp.
WHAT IT DOES
The New York-based company partners with hospitals and health systems to offer tech-enabled OB-GYN and women’s health services, including mental healthcare, preconception and family planning, annual well woman visits, wellness coaching, and virtual and in-person classes and events.
Diana Health also deploys care teams, including mental health and wellness providers, OB/GYNs, and certified nurse midwives.
The company will use the Series B investment to expand its reach nationally and grow its platform and offerings.
“The team at Diana Health has made tremendous progress to date. We look forward to bringing their solution to more communities as Diana Health expands nationwide and provides greater high-quality access to maternal and gynecological care,” Irem Rami, principal at Norwest Venture Partners and board member at Diana Health, said in a statement.
MARKET SNAPSHOT
Diana Health launched last year with $11 million in Series A financing. At the time, the company announced a collaboration with TriStar StoneCrest Medical Center in Tennessee, a part of the healthcare system HCA Healthcare.
In the U.S., the maternal mortality rate in 2021 increased to 32.9 deaths per 100,000 live births from 23.8 in 2020 and 20.1 in 2019. Researchers say technologies can improve maternal outcomes when incorporated within pregnancy care, especially when addressing social determinants of health, ensuring quality of care and improving communication between patients and providers.
Several companies are looking to offer tech-enabled offerings to improve maternal care, including maternity telehealth platform Ouma Health, which provides mother and fetal in-home care offerings to women on Medicaid, tech-enabled maternity clinic Millie, and perinatal and prenatal health AI company PeriGen.
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