Senior-assistance startup DUOS scooped up $15 million in a Sequence A financing spherical led by Imaginary Ventures, with participation from Forerunner Ventures, Declaration Companions and Optum Ventures.
The spherical comes lower than a 12 months after the corporate emerged from stealth with $6 million in seed funding.
WHAT IT DOES
DUOS pairs older adults with a supervisor, referred to as a Duo, who can arrange rides, prepare for meals deliveries, assist with house restore or discover acceptable housing, and handle medical care. The Duo calls weekly to examine in, however purchasers can name again through the week if they’ve particular wants.
The startup has partnered with well being plans like Magellan Healthcare and Geisinger Well being Plan to supply its companies, and plans to announce extra payer collaborations this 12 months. It additionally affords its care administration as a direct-to-consumer providing.
With the inflow of funding, DUOS plans to spend money on its expertise platform and rent new employees, together with in engineering, product administration, operations and advertising.
“Imaginary is extremely excited to associate with the DUOS workforce to empower growing old adults,” Kelly Dill, associate at Imaginary Ventures, mentioned in an announcement.
“Now we have all the time been hyper-focused on fixing shopper issues, and DUOS is working to resolve one of many greatest of our technology. The DUOS workforce brings deep healthcare experience with a hyper deal with the top shopper they’re serving. We expect this consumer-fueled strategy creates an distinctive expertise tailor-made to the wants of growing old adults.”
MARKET SNAPSHOT
The U.S. population is aging, however most older adults say they’d prefer to stay in their homes as they become older. In accordance with a 2021 AARP survey, 34% of adults mentioned they should make modifications to their houses so that they or a cherished one might keep there safely. These embody accessibility adjustments, emergency response programs or good units.
One other firm within the senior-assistance area, Papa, pairs older adults or others in susceptible communities with assistants who can assist with meal prep, mild house responsibilities, transportation and companionship. The corporate scored $150 million in Sequence D funding in November, bumping its valuation to $1.4 billion.
Honor Know-how, which affords a platform to assist customers discover and schedule caregivers, final 12 months raised $70 million in Sequence E funding and $300 million in debt financing.
Discussion about this post