Rippl, a company focused on providing mental health solutions to seniors with dementia and other cognitive conditions, has launched with an initial $32 million round led by ARCH Venture Partners and General Catalyst.
GV, F-Prime Capital and Mass General Brigham Ventures also participated.
What are they doing
The company, led by Starbucks veteran Chris Engskov, said it will launch a model of care offered by health plans that will provide around-the-clock access to doctors by phone, online or in the homes of seniors.Read:Super fit gran determined to keep wearing crop tops in her 70s as ‘life is short’
“One of the most visible areas of healthcare to date that has not been addressed is how we treat older adults with cognitive disabilities in their homes,” said Robert Nielsen, Rippl co-founder and chairman and general manager of ARCH Venture Partners, in a statement. “We saw an opportunity to make a big impact. We brought together a diverse team of people from a wide variety of backgrounds. What connects them is that they are all caregivers. We have a common drive to redefine what a healthcare company looks like, by putting clinicians in The center of every decision we make.”
What is its purpose?
Rippl plans to use seed funding to hire and train doctors, build technology, and open a clinical support center in Washington state to launch pilot networks in two regions, starting in Seattle.Read:The Pandemic Fueled a Superbug Surge. Can Medicine Recover?
According to the Statistics Office, the number of older adults has grown significantly over the past 10 years, driven by the advancing age of the baby boom generation. As society undergoes a demographic transition, referred to as the “grey tsunami,” there will be an increased need for health care providers and clinics to meet the demands of the aging group.Read:PF supports teen’s physical and mental health through complimentary access | Local Sports
Many companies focus on creating solutions for population aging. Homethrive, a platform aimed at supporting people caring for older relatives or loved ones with disabilities, recently raised $20 million. DUOS, which announced a $15 million Series A in April, helps seniors prepare trips, arrange food delivery, help find housing and administer medical care.
Papa, another big help company, announced a $150 million from the fourth round in November 2021.