Techstars alum Ovuline is taking a major step in its bid to become the leading provider of women's health apps. It's doing so with an expansion of its maternity benefits platform for employers and insurers, thanks to a new $10 million injection of capital.
The startup, which has renamed itself to Ovia Health, announced on Friday that it raised the new round of financing from several of its previous investors, including Zaffre Investments and Martin Ventures. This brings total funding to around $15 million.
With over 5 million users, the startup has already developed a name for itself with its three apps: Ovia Fertility, Ovia Pregnancy and the newly launched Ovia Parenting. But with the new funding, Ovia Health plans to expand its maternity benefits platform to more employers and insurers. Companies already signed up include GE, Activision Blizzard, Optum and Blue Cross Blue Shield of Massachusetts.
Paris Wallace, Ovia Health's CEO and co-founder, told BostInno that with maternity being a top cost driver for employers, the startup's maternity benefits platform provides an opportunity to create better health outcomes for employees and decrease costs.
"It really impacts their bottom line," he said.
Here's how the benefits platform works: Employees who are pregnant use the Ovia Health app to provide regular updates on their health, which can be especially important considering the gaps between prenatal visits. The big idea is if any irregularities are reported soon after they happen, interventions can be put in place to prevent greater complications.
"It really impacts their bottom line."
If a woman, for instance, says she has dark urine, a headache and spiking blood pressure, the app is able to identify that she may have preeclampsia, which can lead to series or even fatal complications for the baby. The app, which is able to identify the complication using algorithms based on clinical guidelines, then suggests the woman visits her doctor. A health coach who works for the woman's employers is also alerted.
"We really have a goal of helping women and families during this time interact with healthcare needs in a way that matches the way they interact with everything else in their life," which is becoming increasingly app-driven, Wallace said.
As part of its expansion plans, Wallace said he expects Ovia Health to nearly double its current team of 35 employees to 60 by the end of 2017.
