Millie, a tech-enabled maternity clinic, has raised $12 million in Series A funding, co-led by TMV and Foreground Capital, with participation from Pivotal Ventures and the March of Dimes Innovation Fund. The round also saw continued support from existing investors, including Ingeborg Investments, BBG Ventures, and several other venture firms.
The company, which launched in 2022 with a $4 million seed round, plans to use the new funding to expand its technology platform and establish new clinics, with its first expansion planned for San Jose, California. The flagship Berkeley location will enhance its gynecology and wraparound care services.
Anu Sharma, founder and CEO of Millie, highlighted the changing investment landscape since the company's initial funding. "In 2023 and 2024, the capital markets were in a very different place. Interest rates were higher, the cost of capital was higher. There were just a lot of funds that were sitting on portfolio companies that were hoping to see exit, but there were no exits to be found," Sharma told MobiHealthNews.
Millie's approach centers on comprehensive maternal care, combining OB/GYN and midwife support with clinical best practices throughout the entire maternal journey - from conception through postpartum care. The platform integrates technology for continuous care monitoring, including telehealth services and a dedicated app.
Looking ahead to 2025, Sharma envisions an expanded role for AI in healthcare. "In maternal health, with acute OB/GYN shortages, this is especially powerful in keeping care accessible as the incidence of maternity 'care deserts' continues to rise," she stated. She anticipates AI applications will extend to both payor and provider operations, including clinical decision support, ambient charting, and streamlined care operations.
This development follows significant movement in the maternal health tech sector, including Diana Health's $34 million Series B funding in 2023 and MedArrive's partnership with Ouma Health to expand maternal care services for Medicaid recipients. These initiatives reflect growing investment in addressing maternal healthcare challenges through technology-enabled solutions.
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