# Babylon Healthcare Services

Startup profile on Capital Atlas: https://capitalatlas.ai/startups/babylon-healthcare-services

- Industry: Healthcare IT
- Headquarters: London, UK
- Website: www.babylonhealth.com/
- Total disclosed funding: $579M
- Latest round: Series C (Aug 2, 2019)
- Investors on record: 7

## About

Based in London, UK, and founded in 2013, Babylon Healthcare Services Limited is a digital health company that combines AI and delivers access to healthcare including personalized health assessments, treatment advice, and face-to-face appointments through its mobile application. In 2019, the firm raised USD 550 million in Series C funding led by Public Investment Fund. In 2020, Babylon Healthcare Services Limited raised GBP 73.71 million in venture debt financing from existing investor VNV Global. In 2021, the company merged with Alkuri Global Acquisition Corporation for USD 4.2 billion with a PIPE proceed of USD 230 million, at USD 10 per share.
In November 2024, Babylon Healthcare Services Limited raised an undisclosed amount in venture funding from new investor Norrsken VC.

The company utilizes and provides AI technology in primary care and treats common medical conditions such as acne, allergies, asthma, bronchitis, chronic sinusitis, coronavirus, depression, eczema, insomnia, and warts among many others. Babylon offers digital consultation and in-person specialist advice. Additionally, Babylon’s healthcare services are provided through its app and include covid-19 care assistant, video appointments, prescriptions, and interactive symptom checker as well as monitoring of and insights on the user’s health.
The company serves 170 global partners and several members in countries across 4 continents and has operations in the US, UK, Canada, Rwanda, and other countries across APAC and Middle East. Babylon provides businesses with insights on the health of their team, insurers, pharmaceutical companies, healthcare providers, as well as NHS (National Health Systems), governments, and foundations.

Babylon reported revenue of USD 79 million in 2020. The company offers Babylon GP at Hand and several other free tools; however, it generates revenue through a subscription model charged at GBP 149 billed annually and GBP 49 per consultation. Babylon also offers on-off appointments with specialists charged at GBP 39 for subscribers and GBP 59 for non-subscribers for a therapist and EUR 49 and EUR 79 for subscribers and non-subscribers for a specialist.

The company plans to use its proceeds from November 2024 funding for its continued expansion of its business operations.

## Funding rounds

- Series C, Aug 2, 2019, $493M — VNV Global, Public Investment Fund, Kinnevik, Centene Corporation, Munich Re Ventures
- Series B, Apr 25, 2017, $61M — VNV Global, Kinnevik, NNS Holding
- Series A, Jan 14, 2016, $25M — Kinnevik, Hoxton Ventures

## Investors

- Kinnevik (https://capitalatlas.ai/funds/kinnevik) — Series A, Series B, Series C
- Hoxton Ventures (https://capitalatlas.ai/funds/hoxton-ventures) — Series A
- VNV Global (https://capitalatlas.ai/funds/vnv-global) — Series B, Series C
- NNS Holding — Series B
- Public Investment Fund — Series C
- Centene Corporation — Series C
- Munich Re Ventures (https://capitalatlas.ai/funds/munich-re-ventures) — Series C