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 yr 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, organize for meals deliveries, assist with house restore or discover acceptable housing, and handle medical care. The Duo calls weekly to test in, however shoppers 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 providers, and plans to announce extra payer collaborations this yr. It additionally affords 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 employees, together with in engineering, product administration, operations and advertising and marketing.
“Imaginary is extremely excited to accomplice with the DUOS group to empower getting old adults,” Kelly Dill, accomplice at Imaginary Ventures, stated in an announcement.
“We now have all the time been hyper-focused on fixing client issues, and DUOS is working to unravel one of many greatest of our era. The DUOS group brings deep healthcare experience with a hyper deal with the tip client they’re serving. We predict 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 desire to remain of their properties as they grow old. In response to 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 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 might help with meal prep, mild housekeeping, 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 yr raised $70 million in Sequence E funding and $300 million in debt financing.
