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Senior-focused startup Lifespark scores $20M

This morning senior-focused well being tech firm Lifespark scored $20 million in Series B funding. Virgo-Managed Fund and Medicare Advantage supplier UCare led the spherical. 

This comes roughly a 12 months after the Minneapolis-based firm raked in $16 million, in response to Crunchbase

WHAT IT DOES 

The firm developed a tech-backed holistic system centered on wholesome growing older. Seniors are capable of get a “life plan” that features long-term and short-term targets geared toward giving the particular person extra independence. Patients are in a position request a clinician go to at house or full a video go to. 

Its know-how features a inhabitants well being platform geared toward eradicating silos. The system, which it calls an digital life document, features a skilled portal, the life plan, prescriptive indicators, a 360 affected person view, and analytics and insights, in addition to providing a member and household expertise. 

WHAT IT’S FOR 

The firm mentioned it plans to make use of the brand new funds to construct out its working system and know-how platform. 

“Bringing others into our ecosystem is the one option to deal with the growing older disaster and healthcare waste that exists,” Lifespark CEO and founder Joel Theisen mentioned in a press release. “This further infusion in our capital comes on the identical time we have introduced an funding from UCare, a number one Minnesota payor, to serve all seniors with extra wellness and fewer ‘sick care.’

“Defragmenting and aligning around providers who bring a multiproduct strategy will help deepen longitudinal relationships that deliver value.”

MARKET SNAPSHOT

Today we’re seeing the rise of corporations specializing in holistic care. Cityblock Health, for instance, targets Medicaid and low-income Medicare populations. It makes use of know-how that permits collaboration between care suppliers and communities. The firm lately scored $400 million in funding, bringing its valuation to $5.7 million. 

As the US inhabitants continues to age, we’re additionally seeing quite a lot of digital well being corporations centered on the growing older course of. Honor Technology landed $70 million in Series E financing and $300 million in debt financing final week for its tech platform that helps seniors and their households discover and schedule caregivers.

Yesterday, retail large Best Buy introduced its buy of remote-monitoring firm Current Health to construct out its senior care portfolio. 

 

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