Why We Invested: Millie
Company: Millie
Founders: Anu Sharma, Talia Borgo, Sarah Reynolds
Stage: Series A
Women’s Health Vertical: Maternal Health
Industry: Healthcare Delivery
Meet Millie: Transforming Maternal Care and Health Outcomes
Millie is a modern maternity clinic that combines midwifery-led care with technology to provide end-to-end care through pregnancy, in partnership with health systems to meet the full continuum of care needs. Millie’s model leverages their AI-integrated platform and remote monitoring tools to deliver more proactive, continuous, 360-degree care to create better outcomes at lower costs – with proven actuarial savings to payors. Millie also provides preconception and ongoing gynecology care, and has served over 1500 patients to-date, with several hundred babies delivered.
Why Millie?
The US has the highest cost of maternity care in the world with poor outcomes for birthing parents and infants. In 2022, there were 22 maternal deaths for every 100,000 live births in the United States with a surprising 80% of these maternal deaths being preventable. Additionally, the US has high rates of C-sections, preterm births, NICU stays, and perinatal depression. This is particularly true for traditionally marginalized communities in healthcare as well as individuals who live within maternity care deserts that lack access to proper care. In contrast, several high-income countries have policies and systems that support pregnant people during the perinatal period leading to significantly lower rates of maternal death.
The current state of maternal care in the U.S. can be partially attributed to an incomplete, fragmented, and reactive model with limited postpartum care, overmedicalization of births, lack of education and resources for pregnant people, and shortages of OBGYNs. The incorporation of midwives into the process can address many of these gaps in maternal care. Midwives are trained to support the physical and emotional well-being of birthing people throughout the pregnancy journey, alongside providing full-scope clinical care for low-to-moderate risk pregnancies. This includes visits and screenings throughout pregnancy, labor & delivery, and educating the parents on necessary topics such as nutrition, exercise, breastfeeding, and newborn care. There is a pressing need for more holistic maternal care practices within the United States, and Millie’s integration of midwifery practices and new technologies rejuvenates the current suboptimal system.
What Differentiates Millie in the Market?
There are many companies that have joined the fight against the maternal health crisis, but Millie stands out from these companies as well as traditional maternal care systems in key ways:
Strategic B2B partnerships: Millie partners with health systems that share operating costs for their asset-lite clinics. Their first clinic was launched in Berkeley, CA in partnership with Alta Bates Hospital. Millie is adding new health system partnerships with deeper clinical & financial integration, and going after the payor segment.
Hybrid approach to holistic care: Millie combines in-person services with telehealth to ensure patients are receiving the care they need 24/7. Their app allows for remote patient monitoring and direct access to support around the clock.
Innovative technology: In addition to the remote patient monitoring technology, Millie uses a proprietary clinical data model that aids in risk stratification and management, and their AI-powered workflow that is built to achieve 15% increase in clinical productivity and a 30% decrease in clinical operating costs.
Focus on high-demand populations: Although improvements in maternal care are needed at all levels, Millie narrows in on overlooked markets with latent demand for access to care. Currently, 15% of Millie’s patients are covered by Medicaid, and Millie is looking to expand its footprint with Medicaid MCO plans in future partnerships.
Culturally competent care: All Millie practitioners are required to be trained in culturally competent care, which is especially important because a little more than half of Millie’s patients identify as BIPOC and/or LGBTQ.
About the Team
Anu Sharma, co-founder and CEO of Millie, has extensive experience innovating within the healthcare space. Previously, she was part of the founding executive team Burd Health, a company founded by the former CEO of Safeway to create next generation health benefits for self-insured employers. Prior to that she was a Principal at Booz & Company, where she led corporate strategy and M&A initiatives with multiple national health plans & hospital systems. Through these positions, she developed a deep understanding of creating change within our healthcare system.
Talia Borgo, co-founder and Clinical Director, provides Millie with the necessary expertise in maternal health practices. She is a Certified Nurse Midwife and was previously on the faculty at UCSF Medical Center. She also has past experience at Planned Parenthood.
Sarah Reynolds, co-founder and CTO, brings a wealth of expertise on tech-enabled care platforms and using data to drive outcomes. She was previously Senior Director of Engineering at Omada Health where she spent 7 years building several components of the tech stack and leading engineering teams as the company scaled.
How is Millie Advancing Health Outcomes in Maternal Health?
Millie’s midwifery-led approach to maternal care is setting the precedent for health outcomes as well as reimagining healthcare systems. This is demonstrated by their clinical outcomes exceeding national benchmarks in areas such as c-section rate, low birthweight rate, and preterm birth occurrence. Additionally, Millie is tackling the high cost of maternal care on health systems by decreasing the cost of care delivery by 40% and having a proven actuarial ROI to create payer savings. Millie is also helping to decrease clinical burden by incorporating their AI-powered workflow which leads to 15% higher clinical productivity.
Millie’s mission to increase health equity within the maternal health space is also much needed. With the rate of maternal deaths for BIPOC individuals being 3x that of white people, culturally competent care is a necessary solution to decreasing pregnancy-related deaths. Increasing access to care is also imperative, and Millie’s focus on urban maternity deserts, as well as using an insurance-first approach will increase accessibility to holistic maternal healthcare for many people.
Coyote Ventures Investment
Coyote Ventures is proud to join Millie in their Series A round alongside TMV, Foreground Capital, Pivotal Ventures, Ingeborg Investments, BBG Ventures, Amboy Street Ventures, and others.
Vision for the Future
In addition to their clinic in Berkeley, CA, Millie is looking to expand to include new locations in 2025, while launching new offerings for patients. The team at Coyote is thrilled to support Millie’s mission of increasing health equity by providing holistic, culturally competent care to birthing people.