AI-powered senior-focused digital well being firm CarePredict introduced it scored $29 million in Collection A-3 funding co-led by Aspire Healthtech Companions and SV Well being Traders’ Medtech Convergence Fund.
Present buyers Las Olas Enterprise Capital and Secocha Ventures participated within the spherical, as did particular person buyers.
WHAT THEY DO
CarePredict presents an AI-enabled platform for senior care, combining wearable expertise, indoor location monitoring, deep machine studying and predictive analytics.
Its Tempo wearable consists of sensors that may detect a person’s actions of each day dwelling, together with bathing, ingesting, consuming, toileting, strolling, sleeping and extra. It additionally features a touch-button name system to speak with caregivers and gives a person’s precise indoor location. The Tempo also can act as a key to unlock doorways by touching the wearable to a paired door lock.
The funds might be used to speed up the corporate’s development.
“CarePredict has demonstrated wonderful traction in senior housing and is properly positioned to broaden into the getting old in place section with a confirmed document of prediction and early intervention to not solely protect the well being of older adults however to meaningfully have an effect on healthcare prices positively,” Greg Madden, managing associate at SV Well being Traders, stated in an announcement.
MARKET SNAPSHOT
In 2019, the Florida-based firm garnered $9.5 million in Series A funding.
On the peak of the pandemic in 2020, the company rolled out a brand new set of contact-tracing instruments designed for senior dwelling amenities dubbed PinPoint.
The instruments have been damaged up into 4 sorts of tracing: contact tracing, location tracing, path tracing and room visitors. The corporate stated it used indoor location tech to establish the place a workers member or affected person was within the facility and who they got here into contact with.
As of 2020, one in six people within the U.S. have been 65 or older, and because the child boomer inhabitants will get older, experts project the long-term healthcare wants of this inhabitants will enhance.
Different firms centered on senior care embody digital well being platform DUOS, which scored $10 million in funding final month, bringing its complete elevate to over $33 million. Boston-based Author Health, a hybrid care platform for Medicare Benefit members with severe psychological sickness and substance use problems, launched final month with $115 million in financing.
