Lowenstein Sandler represented Pomelo Care, a New York-based virtual medical practice that improves maternal and newborn health outcomes, in a $33 million Seed and Series A fund raise led by Andreessen Horowitz.
Additional participating investors included First Round Capital (who co-led the Seed round), SV Angel, Operator Partners, Allen & Company LLC and BoxGroup, joined by angel investors and healthcare industry leaders including Adam Boehler, Managing Partner of Rubicon Founders, Former Director of the Center for Medicare and Medicaid Innovation (CMMI), and Founder of Landmark Health and Puneet Singh, Former Chief Growth Officer, Diversified Business Group at Elevance.
The company intends to use the funds to accelerate its partnership expansion with health plans, including several Medicaid-managed care organizations, employers and academic medical centers on the front lines of the national maternal health crisis.
Pomelo Care is a virtual medical practice that addresses underlying risk factors to improve maternal and newborn health, increase access to care and reduce avoidable costs. The company currently serves patients in 44 states.