# Babson Diagnostics

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/babson-diagnostics

- Industry: Medical Devices & Equipment
- Headquarters: Austin, US
- Website: www.babsondx.com
- Total disclosed funding: $45M
- Latest round: Series B (Jun 29, 2021)
- Investors on record: 5

## About

Babson Diagnostics, Inc., based in the US, specializes in innovative blood testing technology designed to enhance patient access and convenience in healthcare services. Their solutions focus on transforming traditional blood testing methods into modern, user-friendly experiences.Founded in 2017 and headquartered in Austin, TX, Babson Diagnostics, Inc. aims to redefine blood testing with its advanced technology. The company has secured a total of 3 funding deals, with the latest being a Series B round in which they raised USD 31.00 mn led by Emerald Development Managers. The company was established by Eric Olson, who has a history of founding other ventures, and is currently led by CEO David Stein.Babson Diagnostics specializes in innovative blood testing solutions designed to provide convenient and accessible healthcare services to patients. Their flagship product, the BetterWay technology, enables accurate blood testing using a small sample—essentially a pea-sized amount of blood collected via a finger prick. This technology is clinically validated through rigorous studies, emphasizing accuracy and reliability. Babson's services target consumers who seek a more patient-centric approach to blood testing, allowing them to obtain essential health insights at local pharmacies. The company primarily operates in the United States, aiming to transform a traditional 70-year-old process into a more contemporary, patient-focused experience.The revenue model for Babson Diagnostics revolves around partnerships with healthcare providers and local pharmacies, facilitating direct-to-consumer blood testing services. Clients, which include healthcare practitioners and retail pharmacies, engage with Babson to provide their patients with easy access to blood testing. Transactions are structured as service fees charged for individual tests conducted through the BetterWay platform, which may be facilitated by healthcare professionals ordering tests on behalf of their patients. The pricing structure for these services reflects the cost of innovation and convenience, ensuring that patients receive medically accurate results without the need for extensive blood draws. Babson Diagnostics continues to establish itself within the healthcare market through its focus on patient-centric diagnostic solutions.In October 2024, Babson Diagnostics, Inc. raised an undisclosed amount of venture funding from new investor Becton, Dickinson, and Company, with participation from returning investors Siemens Healthineers and Emerald Development Managers. The company plans to utilize this funding to increase the scope of its development and activities. Babson is strategizing to expand its market presence, focusing on new geographic regions to enhance its service delivery, although specific regions and product launch dates have not been disclosed.

## Funding rounds

- Series B, Jun 29, 2021, $31M — Prism Venture Management, Siemens Medical Solutions USA, Inc., Emerald Development Managers, Lago Consulting & Services
- Series A, Sep 24, 2020, $14M — Prism Venture Management, Siemens Medical Solutions USA, Inc., Genesis Merchant Capital, Lago Consulting & Services

## Investors

- Prism Venture Management (https://capitalatlas.ai/funds/prism-venture-management) — Series A, Series B
- Siemens Medical Solutions USA, Inc. — Series A, Series B
- Genesis Merchant Capital (https://capitalatlas.ai/funds/genesis-merchant-capital) — Series A
- Lago Consulting & Services — Series A, Series B
- Emerald Development Managers (https://capitalatlas.ai/funds/emerald-development-managers) — Series B