Oula, the Modern Maternity Care Clinic Combining Midwifery and Obstetrics, Raises $28M in Series B Funding to Expand Nationally and Offer New Services

Oula's model of collaborative care ? which combines midwifery and obstetrics ?will soon become the largest employer of midwives nationwide

BROOKLYN, N.Y., Feb. 20, 2024 /PRNewswire/ -- Oula, the first modern maternity care clinic combining the best of obstetrics and midwifery care, today announced it raised a $28 million Series B funding round co-led by Revolution Ventures and Maverick Ventures with participation from GV and existing investors including the Female Founders Fund, 8VC, Alumni Ventures, and Great Oaks. With nearly $50M in total funding, Oula plans to expand its technology-enabled and hybrid care approach to more markets beyond New York City and launch new services for those in their reproductive years.

Maternity care in America is fundamentally broken and the new funding and investor interest reflects the enormous market opportunity to rebuild the consumer experience during a loyalty-defining moment for the most valuable consumer in healthcare. Since 2021, Oula has been leading the way to rebuild a better experience for patients with its unique care model that addresses the needs of consumers, health systems, and payers alike.

"The power of Oula's collaborative approach to care is that patients feel seen and heard during a transformative moment in their lives, health systems are able to address the evolving expectations of their communities, and we can move the needle on unacceptable outcomes and disparities in maternal care," said Adrianne Nickerson, CEO and Co-Founder of Oula. 

In the past year, Oula announced its third NYC clinic while outperforming benchmarks on patient experience and outcomes. In comparison to NYC benchmarks, Oula has consistently outperformed on patient outcomes and experiences across 1,500 births through their collaborative care model, delivering a 26% better C-section rate, vs. NYC benchmarks, a 61% lower preterm birth rate, and a 50% better low birth weights rate, all while maintaining a net promoter score (NPS) rating for patient experience above 90.

"Pregnancy outcomes in the US have consistently deteriorated over the past two decades. Oula is solving this mounting crisis by reimagining the maternal experience with midwifery-first, team-based care supported by virtual wrap-around services and a tech-enabled platform. We're excited to partner with the team as Oula scales its care model and empowers women to receive personalized, trusted support throughout pregnancy," said Clara Sieg, Partner and Founding Member at Revolution Ventures.

"We're thrilled to back a company that effectively aligns the needs of mothers, health systems, and payers, and breaks the false binary between unmedicalized and hypermedicalized care," added David Singer of Maverick Ventures, who also backed One Medical and CityBlock Health at very early stages.

The U.S. maternity care system is designed to serve high-risk pregnancies, even though most are low-risk. Studies show that a one-size-fits-all approach that treats every pregnancy as high-risk can lead to more interventions, and leave some patients without the services they need. This approach to maternity care leads to unsatisfactory patient experiences, poor outcomes, and higher costs. According to the Listening to Mothers Survey, 74% of women say they want a less medicalized approach to birth, up from 45% in 2002. Research shows that midwifery-led care leads to lower rates of preterm birth, 30-40% lower cesarean birth rates, and rates of vaginal birth after cesarean that are nearly twice as high. They also drive a 3x improvement in patient satisfaction with maternity care. A number of state-based regulations impose logistical requirements that make it difficult for midwives to practice ? and insurers don't always cover prenatal and postpartum midwifery care.

"We've not only proven that this model works, but that it's what patients from all backgrounds, birth preferences, and income levels are looking for," said Elaine Purcell, COO and Co-Founder of Oula. "Whether you can afford concierge care or are on Medicaid, we are building a modern and compassionate pregnancy care model that delivers better outcomes than the system has proven to do.. We deserve better and yes, you can have it all," she added.

Instead of waiting for the standard eight-week ultrasound, Oula allows patients to book an appointment as soon as their positive pregnancy test as well as continuing to support patients in the postpartum period with weekly "Postpartum Office Hours." Oula also plans to announce preconception coaching visits and expanded miscarriage support options in the coming year.

"Oula is distinct in the pregnancy landscape today not only in redesigning the standard pregnancy and birth experience, but also in filling the gaps where the medical system typically fails patients: early pregnancy care and postpartum. Even when there aren't any medical needs, these are times when people need emotional support," said Joanne Schneider, Oula's Chief Experience Officer. "Miscarriages are extremely common, so I was shocked at how isolated I felt when I had my own miscarriage. It's not considered a big deal medically, but it's a very big deal when you are going through it," she added. 

How Oula is different:

• Oula providers are able to spend twice as much time with patients as obstetricians do.
• Most people are looking for the middle ground between hypermedicalized and non-medical pregnancy care. Oula allows you to deliver at a hospital with a midwifery approach, which includes access to a variety of pain management options, including epidurals and nitrous oxide.
• Oula's services fill additional gaps where today's healthcare system fails patients - early pregnancy care and postpartum care, group education classes, postpartum office hours, and dedicated spaces for BIPOC parents and families.
• Oula's care is powered by proprietary software the company built to complement its electronic medical records system ? a patient portal that guides patient decision-making, enables messaging with the care team, and a care-management platform that ensures patient needs are coordinated seamlessly between staff members.
• Oula takes most major insurances, including Medicaid. One in five Oula patients rely on Medicaid, 54 percent of patients identify as non-white or Hispanic, and one in ten patients are LGBTQ+.

To learn more about Oula, or to book an appointment, please visit oulahealth.com or follow @OulaHealth. Oula's New York City locations include 109 Montague Street in Brooklyn, 202 Spring Street in Manhattan, and a third clinic in Morningside Heights set to open in July 2024 in partnership with Mount Sinai West. Link to high-res imagery here.

About Oula: 
Oula is the first modern maternity clinic that brings together the best of midwifery and obstetrics to deliver whole person care that is personalized and evidence-based to provide everyone with the support they need to thrive before, during, and after birth. Since launching in 2021, Oula has been leading the way to redesign a better care experience. With our collaborative medical team, welcoming clinic, and remote care platform, we are setting a new standard for pregnancy that brings together modern medicine and human intuition. Both Co-Founders and Chief Experience Officer were pregnant during the pandemic while they raised capital and opened their first location, reaching full capacity in three months. Oula is venture-backed and has raised almost $50m to-date by investors including Chelsea Clinton's fund, Metrodora and Tom Lee from One Medical. Oula accepts insurance, including Medicaid. Oula can be found in three locations in New York City. Additional markets are expected to open in 2025.

About Revolution Ventures 
Revolution Ventures is Revolution's institutionally-backed early stage fund investing in companies around the country that are attacking large, multi-billion dollar categories. Co-founders Steve Case and Investment Partners Tige Savage, David Golden, and Clara Sieg work with companies that meet their disciplined criteria and form true partnerships with founders to help them build market-leading businesses. Revolution Ventures is headquartered in Washington, D.C. and part of Revolution's family of funds including Revolution Growth and the Rise of the Rest Seed Funds. Visit us online at revolution.com/ventures.

About Maverick Ventures 
Maverick Ventures is the venture arm of multi-billion dollar investment firm Maverick Capital. Combining the resources of a global firm with the benefits of an agile, focused team, Maverick Ventures supports entrepreneurs through an evergreen structure from seed through maturity. With over 30 years of early-stage investment experience, the Maverick Ventures team has funded more than 100 companies in the healthcare, software and deep technology sectors. Learn more about San Francisco-based Maverick Ventures at maverickventures.com.

Contact: Catherine Cuello-Fuente at [email protected]

SOURCE Oula