Company plans significant growth in value-based partnerships with payers and payviders that will substantially increase access to dementia care for people living with dementia and their caregivers
SEATTLE, WA, October 2, 2024
Rippl, a leader in virtual dementia care, announced the successful closing of its Series A funding round today. Tina Hoang-To, Kin Ventures Founding General Partner, led the $23 million round with participation from Rippl’s seed investors ARCH Venture Partners, General Catalyst, GV (Google Ventures), F-Prime, Mass General Brigham Ventures, and 1843 Capital. JSL Health also joined the round.
”With this investment, we will continue to deliver on our mission to provide the highest quality support for those navigating the challenges of dementia. People affected by this disease have been undervalued and underserved for far too long. We founded Rippl to dramatically expand access to the highest quality, speciality care for patients, caregivers and families struggling with this disease. And, keep them at home and out of the ED and hospital, a place they end up far too often. This new funding is a testament to the confidence our investors have in our vision.
Kris EngskovRippl Co-founder and CEO
The capital will fuel three key pillars of Rippl’s strategic plan:
#1 Expanded geographic footprint
Earlier this year, Rippl announced a groundbreaking partnership with the Alzheimer’s Association®, combining Rippl’s proven model of expert virtual care with the association’s extensive resources including its 24/7 helpline and community education and support services. Together the two organizations are currently serving patients and families in Washington, Texas, Illinois, and Missouri. Rippl’s new capital will fund an aggressive plan to expand coverage to several new states over the next 4 years – including California, Florida, and Arizona.
#2 New payment models, particularly value-based
The company will continue to partner closely with Medicare Advantage Plans, ACOs and other payors and payviders to deliver its unique wrap-around care model in value-based arrangements. In addition, the Dementia Care Navigation Service, powered by Rippl and the Alzheimer’s Association, was selected by the Centers for Medicare & Medicaid Services (CMS) to participate in their new alternative payment model known as the Guiding an Improved Dementia Experience Model (GUIDE), which launched July 1, 2024. As a trusted partner to clinicians, hospitals and health systems, this new service has been rapidly onboarding people living with dementia and their caregivers, providing much needed relief at no cost to them.
#3 Supercharged tech enablement
The Series A funding will also propel Rippl’s AI and technology roadmap. In April, Rippl acquired Kinto, an AI-enabled dementia caregiver support platform, integrating both the talented Kinto team and their research-backed technology. Rippl is well positioned to accelerate adoption of technology advancements and AI tools to enhance patient and caregiver support, further powering scalability.
Tina Hoang-To, Founding Partner at Kin Ventures, expressed her enthusiasm about the investment and the company’s momentum: “Rippl is at the forefront of a critical shift in dementia care. I am excited to join the team and support their mission to become the largest national network of healthcare providers for senior-focused behavioral health while improving the lives of those affected by dementia.”
This funding will accelerate the progress the Rippl team has made since serving its first patient in January 2023.
”“We are ready to scale. The heartfelt gratitude we hear from caregivers and families everyday reinforces our confidence in the difference we can make. Our dedicated care teams are making significant strides in reducing caregiver strain, improving patient outcomes and helping them stay safely in their homes while avoiding unnecessary ED visits and hospital stays.”
Dr. Jamie SharpRippl Chief Medical Officer
Chief Growth Officer JP Sharp added, “In addition to our value-based arrangements with Medicare Advantage plans, we are thrilled to be collaborating with major health systems like Houston Methodist, Springfield Clinic, St. Luke’s Hospital, and Providence Health, as part of the CMS GUIDE program to extend our reach. These partners share our deep passion for improving quality of life for people living with dementia and their caregivers.”
The need for compassionate, accessible dementia care across the US has never been more urgent. Rippl plans to lead the way in reaching as many deserving families as possible, as soon as possible.
About Rippl
Rippl is virtual healthcare made for seniors. We believe people living with dementia can and should live a good life – staying healthy at home and out of the ER and hospital. We’re passionately focused on reducing the difficulties that accompany the dementia journey because the current system too often leaves families facing dementia with little to no support. At Rippl, we’re changing that. Learn more at https://ripplcare.com
Media Contact: Rachel Lanham, [email protected]
