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, known as a Duo, who can arrange rides, prepare for meals deliveries, assist with dwelling restore or discover acceptable housing, and handle medical care. The Duo calls weekly to test in, however purchasers 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 presents 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 associate with the DUOS group to empower getting older adults,” Kelly Dill, associate at Imaginary Ventures, mentioned in a press release.
“Now we have all the time been hyper-focused on fixing shopper issues, and DUOS is working to resolve one of many largest of our technology. The DUOS group 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 older adults.”
The U.S. inhabitants is getting older, however most older adults say they’d choose to remain of their properties as they grow old. In accordance with a 2021 AARP survey, 34% of adults mentioned they should make modifications to their properties in order that they or a beloved one might keep there safely. These embrace accessibility adjustments, emergency response methods or sensible units.
One other firm within the senior-assistance house, Papa, pairs older adults or others in susceptible communities with assistants who may also 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 Expertise, which presents a platform to assist customers discover and schedule caregivers, final yr raised $70 million in Sequence E funding and $300 million in debt financing.