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, known as a Duo, who can arrange rides, prepare for meals deliveries, assist with residence restore or discover acceptable housing, and handle medical care. The Duo calls weekly to examine in, however purchasers can name again in the course of 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 providers, and plans to announce extra payer collaborations this 12 months. It additionally gives its care administration as a direct-to-consumer providing.
With the inflow of funding, DUOS plans to spend money on its know-how platform and rent new staff, together with in engineering, product administration, operations and advertising and marketing.
“Imaginary is extremely excited to associate with the DUOS crew to empower getting old adults,” Kelly Dill, associate at Imaginary Ventures, stated in a press release.
“We have now at all times been hyper-focused on fixing shopper issues, and DUOS is working to resolve one of many largest of our technology. The DUOS crew 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 getting old adults.”
MARKET SNAPSHOT
The U.S. inhabitants is getting old, however most older adults say they’d favor to remain of their properties as they become older. In line with a 2021 AARP survey, 34% of adults stated they should make modifications to their properties in order that they or a cherished one may keep there safely. These embrace accessibility adjustments, emergency response programs or good gadgets.
One other firm within the senior-assistance house, Papa, pairs older adults or others in weak communities with assistants who might help with meal prep, gentle housekeeping, transportation and companionship. The corporate scored $150 million in Sequence D funding in November, bumping its valuation to $1.4 billion.
Honor Expertise, which gives 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.
