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Seattle-based health care startup Rippl has acquired Kinto, a health care startup headquartered in Cambridge, Massachusetts.
A Rippl spokesperson said that with the acquisition, which closed April 15, all eight of Kinto's employees are joining Rippl, which now has 68 employees. The companies aren't disclosing financial terms of the deal, according to the spokesperson, but it included cash and stock.
"This partnership will help us accelerate our technology capability to give more and better care to both our patients and their caregivers," Kris Engskov, Rippl co-founder and CEO, said in a news release.
The spokesperson added that the Kinto brand will eventually fold into Rippl.
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Kinto, founded in 2017, offers virtual coaching services to caregivers looking after a loved one with dementia. In addition to working with a coach to address patients' needs, Kinto offers a library of relevant content and access to a network of other caregivers for support and advice.
Kinto founder and CEO Joe Chung is joining Rippl as chief technology officer and head of artificial intelligence.
Rippl, meanwhile, was founded in 2021. The company also works with caregivers looking after someone with dementia. Rippl offers clinicians who come up with a care plan and offer ongoing virtual support for caregivers and patients. Rippl also works with providers looking to offer more specialized care for patients with dementia.
Rippl first launched out of stealth in September 2022 with $32 million in seed funding. Engskov was previously president of Starbucks' U.S. operations and Aegis Living, the Bellevue-based senior assisted living and memory care company.
According to Alzheimer's Disease International, there will be 78 million people worldwide living with dementia by 2030 and 139 million by 2050.
Tracy Chadwell, founding partner of venture capital firm 1843 Capital, introduced Chung and Engskov, according to the release. Both companies are in 1843's portfolio. The firm focuses on tech solutions for aging.
