Tomorrow Health, a startup building a software platform to streamline the process of getting medical equipment and supplies for home care, closed a $25 million Series A funding round.
Andreessen Horowitz led the round with participation from Obvious Ventures and BoxGroup. The company plans to use the new capital to hire additional talent and expand its infrastructure technology to seamlessly connect patients with home-based care.
The company’s data-driven platform matches patients and their families with durable medical equipment (DME) suppliers, simplifies ordering and insurance processes, and offers support at every step. The platform also gives people a list of suppliers based on their insurance coverage, location, and product specialization and hires care advocates to provide additional support.
“The home health space is still living in the Dark Ages and desperately needs an upgrade. Tomorrow Health is setting a new, patient-first standard for how we improve the process,” said Julie Yoo, General Partner at Andreessen Horowitz, who is joining the company’s board.
“Their holistic solution tackles each fragmented step of home healthcare and connects it all in one place. The platform’s critical technology infrastructure offers increased visibility and value to payors, provides tools for operational efficiency for DME suppliers, and saves providers and their staff time spent on coordination so they can focus on patient care.”
“From a population health standpoint, there are few areas of greater importance than the safe transition of patients to home-based healthcare,” said Roy Beveridge, former Humana Chief Medical Officer. “During a critical and often stressful time for patients and caregivers, the patient-first mentality of the Tomorrow Health platform delivers an unprecedented level of care that supports patients and their families as they navigate their home-based healthcare needs.”
Digital Health companies raised a record $7.2 billion VC funding in Q1 2021, according to the recently released Mercom’s Q1 2021 Digital Health Funding and M&A Report.