Assured Allies, which created a platform that helps link seniors to health services, raised $18.3 million in a Series A funding round.
New investors Core Innovation Capital and New Era Capital Partners co-led the round with Wilton Re, a provider of in force and reinsurance solutions. Existing investors LionBird Ventures and Harel Insurance also participated.
According to the company, the Series A funding will accelerate its Age Assured program delivery. Specifically, the company will be introducing an entirely new category of offerings for successful aging that combines wellness with financial products.
“Addressing successful aging is more than a business imperative. It’s a commitment to creating a better society,” said Kat Utecht, Managing Partner at Core Innovation Capital. “Assured Allies is uniquely positioned to bring innovative, tech-driven approaches to the market, with the perspective to design solutions that provide value to both consumers and financial partners focused on the retirement years.”
Assured Allies has been developing technologies and expertise in aging, working with the long-term care companies and insurance companies to better support successful aging. The company’s platform includes a predictive analytics tool that can help gauge a person’s aging trajectory and then intervene when necessary.
The company’s main customers are long-term care insurance companies.
“We learned from direct experience caring for our loved ones that the aging process can introduce a host of worries – from physical health to financial security and emotional wellbeing,” said co-founder and CEO Roee Nahir. “We created Assured Allies to address those worries proactively before they became a problem. In the last three years, we have made big strides toward a future in which people are empowered to age on their own terms. And the best is yet to come.”
Digital Health companies raised a record $7.2 billion in VC funding in Q1 2021, according to Mercom’s Q1 2021 funding and M&A report.