Kaiser Permanente Ventures Awards Hometeam With Investment of $5 Million

By Staff Writer

Feb 18, 2016 08:33 AM EST

Hometeam, an elderly care startup, has announced receiving an additional $5 million fund from Kaiser Permanente Ventures (KPV) on Wednesday. KPV is the corporate venture capital arm of Californian health care service provider Kaiser Permanente.

The venture capital arm offers investments to innovative healthcare companies like Health Catalyst and Healthline Networks. The business startup has so far raised $38.5 million that includes funding from Oak HC/FT, Lux Capital, IA Ventures and Recruit Strategic Partners, according to a report published in Fortune.

The New York based startup pairs trained care renderers and older adults on the basis of their interests and needs. Its innovative system connects patients' homes to their families, doctors and emergency centers, reports VentureBeat.

Hometeam executive board includes Christine Henningsgaard, the COO, experienced in leading operations for One Medical Group. It also includes Harry Heymann, VP of Engineering, with experience in serving as VP of Engineering at Foursquare.

Each member family is supported by a care advisor, care coordinator, registered nurse and the care renderer.  A care renderer receives around $15 per hour and member families pay around $20 per hour for the services.

Hometeam renders services currently to its clients in metropolitan areas of New York, New Jersey and Philadelphia. The recent funding will help the company to expand services to 10 new US cities.

It expects further investment from health care giant in its future funding rounds. However, Kaiser representatives have been witnessed unreachable for comments despite repeated attempts.

The New York based health service renderer considers the investment as initiation of a long term relationship with Kaiser Permanente. Through the relationship, the startup enterprise will be able to share Kaiser's experience. Meanwhile, Kaiser will enjoy the opportunity to learn Hometeam's tech based approaches towards a very traditional industry.

Kaiser cherishes the belief that health care is approaching more towards the home. Hometeam also upholds the intention considering domestic health care services as the future of the business, reports MobiHealthNews quoting Josh Bruno, cofounder and CEO of Hometeam.

Kaiser Permanente Ventures has reportedly invested in a number of digital health companies during the last few years. Ingestible sensor company Proteus Digital Health, video conferencing company Vidyo, health data platform renderer Validic and others include their names in the list of invested entities of KPV.

Kaiser Permanente Ventures has invested $5 million to the business of Hometeam, a New York based elderly care service renderer. Hometeam will use the fund for its expansion to several other US cities. However, it expects further investment from the health care giant in its future funding rounds. 

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