Health

Senior-focused startup Lifespark scores $20M



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

This comes roughly a yr after the Minneapolis-based firm raked in $16 million, in keeping with Crunchbase

WHAT IT DOES 

The corporate developed a tech-backed holistic system targeted on wholesome growing old. Seniors are in a position to get a “life plan” that features long-term and short-term objectives aimed toward giving the particular person extra independence. Sufferers are in a position request a clinician go to at dwelling or full a video go to. 

Its expertise features a inhabitants well being platform aimed 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 corporate stated it plans to make use of the brand new funds to construct out its working system and expertise platform. 

“Bringing others into our ecosystem is the one technique to sort out the growing old disaster and healthcare waste that exists,” Lifespark CEO and founder Joel Theisen stated in an announcement. “This extra infusion in our capital comes on the similar 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 round suppliers who carry a multiproduct technique will assist deepen longitudinal relationships that ship worth.”

MARKET SNAPSHOT

In the present day we’re seeing the rise of corporations specializing in holistic care. Cityblock Well being, for instance, targets Medicaid and low-income Medicare populations. It makes use of expertise that allows collaboration between care suppliers and communities. The corporate just lately scored $400 million in funding, bringing its valuation to $5.7 million. 

Because the US inhabitants continues to age, we’re additionally seeing a lot of digital well being corporations targeted on the growing old course of. Honor Know-how landed $70 million in Collection 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 Greatest Purchase introduced its buy of remote-monitoring firm Present Well being to construct out its senior care portfolio. 

 



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