Any new mother knows how important it is for their child to have breast milk.
While the health benefits of breast milk are very clear, modern motherhood doesn’t always allow the time to provide it. If you feel this struggle then BBy is for you. BBy’s marketplace connects nursing mothers with new parents to buy and sell breast milk that is safe and healthy. The company serves mothers that have a difficult time producing milk, mothers who need the convenience as well as the LGBTQ community. With the approval of doctors and flat rate pricing, this is a viable modern option for providing the healthy care your child deserves.
AlleyWatch chatted with CEO and founder Dr. Vansh Langer about the company and their most recent round of funding.
Who were your investors and how much did you raise?
We raised $150K from Quake Capital for our first round.
Tell us about your product or service.
BBy is a physician created peer to peer marketplace that connects nursing mothers with new parents to buy and sell breast milk in a safe and reliable manner.
What inspired you to start the company?
As a physician in Chicago I saw the daily struggle for parents who didn’t have access to breast milk to feed their children. The health benefits of breast milk for infants are widely known but for parents who don’t produce (adoptive or otherwise) they were traditionally forced to resort to formula. At first I started this service to help my patients but soon after I left full time practice and made it my work to help all infants.
How is it different?
BBy is peer to peer, 100% non discriminatory, crossing social boundaries to strip away the differences in people, creating a community and uniting them under the singular banner of parent.
What market you are targeting and how big is it?
Our target market are new parents, 4 million new infants are born annually. A total addressable market of 16 billion dollars.
What’s your business model?
BBy is a Marketplace that allows nursing mothers to sell breast milk to new parents safely.
What is it about natural breast milk that makes it healthier?
Mother’s milk contains all the essential protein, lipids, amino acids and most importantly, immune complexes need for the first 7 months of life. Breastfed infants are more likely to have a healthier childhood, hit developmental milestones, have less incidence of obesity, cancer and other chronic illnesses as well as 10 to 15 IQ points more than formula fed infants.
What was the funding process like?
Long! Applications began roughly 6 months prior to the accelerator dates, multiple phone and video interviews, due diligence, and background checks. But ultimately it was a great experience and I learned a lot from it.
What are the biggest challenges that you faced while raising capital?
As a single founder, I was routinely asked why I did not have a cofounder. That precluded me from many funding opportunities, however our beta traction and my background helped assuage some of those concerns.
What factors about your business led your investors to write the check?
Healthtech that was physician founded, major social impact, easy scalability, excellent early traction (1000 members in 7 months)
What are the milestones you plan to achieve in the next six months?
BBy officially launches in New York and Chicago in June and working towards 2018 we hope to be in 4 major markets by the end of the year.
What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?
Don’t give up! If you believe in your vision and you believe in yourself learn how to create a pitch, work a side job to self fund your venture and keep at it. The amount of work you put into your company will directly correlate to how willing VCs and Angels are to invest. A great idea or product gets you in the door, but an exceptional founders are the ones that come home with the check.
Where do you see the company going now over the near term?
Launch of the BBy app, scalable growth in the NYC and Chicago markets and an introduction into 2 new markets.
What’s your favorite rooftop bar in NYC to unwind?
My favorite summertime rooftop has to be Sabbia! Though as a Village resident I’m much more partial to the dives around Washington Square Park!