Health

Elderly mental health company launches with $32 million seed round



Rippl, a company focused on providing mental health solutions for seniors with dementia and other cognitive conditions, has launched with a $32 million seed round led by ARCH Venture Partners and General Catalyst lead the way.

GV, F-Prime Capital and Mass General Brigham Ventures also participated.

WHAT ARE THEY DOING

The company, led by Starbucks veteran Kris Engskov, said it will roll out a model of care delivered by health plans that will provide 24/7 access to clinicians over the phone. phone, online or at the senior’s home.

“One of the obvious but unresolved areas of healthcare is the way they are,” said Robert Nelsen, Rippl co-founder and chairman of the board and chief executive officer of ARCH Venture Partners. I treat seniors with cognitive impairment in their homes. “We saw an opportunity to make a huge impact. We brought together a diverse group of people from many different backgrounds. What connects them is that they are all carers. We share the same drive to redefine the face of a healthcare company, and that is by putting clinicians at the center of every decision we make.”

FOR WHAT

Rippl plans to use seed funding to hire and train doctors, build technology and open a clinical support center in Washington state to launch a pilot network in two regions, starting in Seattle.

SNAPSHOT . MARKET

According to the Census Bureau, the elderly population has increased significantly in the past 10 years, due to the aging of the big Baby Boomer generation. As society undergoes a demographic change, known as a “gray tsunami”, there is a growing need for caregivers and health clinics to meet the needs of the elderly population.

Several companies are focusing on creating solutions for old population. Homethrive, a platform to assist people who are caring for an elderly relative or loved one with a disability, recently raised 20 million dollars. DUOS, which announced a $15 million Series A in April, helps older adults set up rides, arrange food delivery, help find housing and manage medical care.

Another high-level backing startup, Papa, announced a Series D round worth 150 million USD in November 2021.



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