Babson Diagnostics is a technology company.
Babson Diagnostics has raised $31.0M across 1 funding round.
Babson Diagnostics has raised $31.0M in total across 1 funding round.
Babson Diagnostics is a science-first healthcare technology company that develops BetterWay™ Blood Testing, a next-generation diagnostic service using capillary microsampling to require only one-tenth the blood volume of traditional venipuncture methods while maintaining laboratory-quality accuracy, breadth of tests, and insurance eligibility.[1][3][6] It serves patients, clinicians, and consumers seeking routine blood tests—addressing the problem that up to 40% skip recommended testing due to inconvenience—by enabling collection at accessible locations like retail pharmacies, with automated sample preparation, courier transport to its CLIA-certified Austin lab, and rapid results delivery.[1][3] The company shows growth momentum through partnerships with BD for the FDA-cleared BD MiniDraw™ device, Orchard Software for lab systems, Cynergy Wellness, and leading retail pharmacies for nationwide expansion.[2][3][5][6][7]
Babson Diagnostics, based in Austin, Texas, was founded by individuals with deep expertise in healthcare, diagnostics, engineering, and laboratory technologies, including Eric Olson as founder and chief operating officer.[3][5][6][7] The company is named in honor of Art Babson, whose legacy of scientific innovation forms its foundation.[3][5][6] The idea emerged from recognizing blood testing's role in 70% of clinical decisions yet its barriers like invasiveness and inaccessibility; since around 2019, Babson has conducted rigorous clinical research to pioneer capillary blood for routine testing, partnering early with BD to develop small-volume collection systems and with Orchard Software for flexible lab workflows.[2][6][7] Pivotal moments include the 2022 brand launch of BetterWay and expansions into self-collection, pediatrics, and retail settings.[1][2]
Babson rides the trend toward decentralized, patient-centric diagnostics, shifting from hospital/lab-centric venipuncture to retail and at-home capillary testing amid rising demand for convenient health services post-COVID.[1][2][3] Timing aligns with pharmacy expansions into primary care, enabling non-specialists to perform collections and broadening access where 40% avoid tests due to hassle.[3] Market forces like aging populations, chronic disease prevalence, and insurer pushes for cost-effective care favor its affordable, less invasive model without quality trade-offs.[1][4] Babson influences the ecosystem by democratizing testing—potentially increasing adherence, informing 70% of decisions faster—and paving the way for microsampling in pediatrics, mobile health, and broader menus, challenging incumbents like Quest and LabCorp.[2][3]
Babson is poised to scale BetterWay nationwide via retail partnerships, advancing self-collection, pediatric tests, and menu expansion while leveraging BD and Orchard for tech reliability.[2][3][7] Trends like AI-driven analytics, telehealth integration, and value-based care will amplify its momentum, potentially capturing share in the $100B+ U.S. lab market by making routine testing as routine as a pharmacy visit. Its influence may evolve from innovator to standard-setter, empowering proactive health management and reducing systemic barriers that Babson set out to reimagine from day one.[1][6]
Babson Diagnostics has raised $31.0M in total across 1 funding round.
Babson Diagnostics's investors include Emerald Development Managers.
Babson Diagnostics has raised $31.0M across 1 funding round. Most recently, it raised $31.0M Series B in June 2021.
| Date | Round | Lead Investors | Other Investors |
|---|---|---|---|
| Jun 1, 2021 | $31.0M Series B | Emerald Development Managers |