Senior-focused digital health platform DUOS announced it secured $10 million in funding, bringing its total raise to over $33 million.
Primetime Partners, SJF Ventures and CEOc’s Aging Innovation Fund managed by Castellan Group led the round.
WHAT THEY DO
DUOS initially offered a direct-to-consumer platform that paired older adults with a manager, called a Duo, who can set up rides, arrange food deliveries, help with home repair or find appropriate housing, and manage medical care.
It has since expanded its offerings to provide a technology-based platform to health plans, providers and employers that helps explain older adults’ healthcare benefits and utilizes AI to prioritize members’ needs.
With the new round of funding, the company plans to advance its technology platform and expand its team.
“The unique combination of data aggregation, technology and engagement services makes the DUOS approach particularly effective at delivering increased value for health plans, risk-bearing providers, and employer groups grappling with the growing aging crisis in America today.” Perry Clarkson of SJF Ventures said in a statement. “Our support comes at a critical growth moment for both DUOS and the broader aging U.S. population with unmet medical and social determinants of health (SDoH) needs.”
MARKET SNAPSHOT
DUOS scooped up $15 million in a Series A financing round last year. In 2021, the company scored $6 million in seed funding.
As of 2020, one in six people in the U.S. were 65 or older. As the baby boomer population grows, experts project long-term healthcare needs will substantially increase, and the population will require more resources.
Other companies focused on providing senior-focused digital health services include Canadian health tech company PointClickCare and senior assistance company Papa.