Endear Health announces $8M in new funding and additional strategic partners
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Endear Health announced it has successfully closed an $8M funding round from new and current investors including Optum Ventures, Blue Cross of Idaho, 8VC and additional strategic partners.
The funds will be used to accelerate the development and expansion of Endear Health’s proprietary platform, which improves the way value-based care organizations deliver digital experiences to their members.
Endear Health is the first digital engagement platform built for the rapidly evolving value-based landscape and on a mission to fundamentally improve the Medicare experience. Founded in 2021 and backed by Optum Ventures, 8VC and additional strategic partners, Endear Health is focused on reducing the hurdles older adults face while navigating an increasingly digital world through development of innovative consumer-centric engagement solutions. The company believes that seniors who are accustomed to receiving assistance and care across nearly all facets of their daily lives should receive that same high level of support when it comes to how they access healthcare.
According to recent studies, 61% of adults aged 65 and older own a smartphone, and 73% of them use the internet daily1. Endear Health recognizes the untapped potential of technology in improving the lives of older adults and aims to bridge the digital divide by offering user-friendly solutions that cater to their unique needs.
Drew Hobby
With Endear Health, organizations can offer members a personalized and intuitive digital platform, purposefully designed for seniors, which integrates educational resources, core benefits, and supplemental benefits into a single location. Additionally, through a marketplace of scalable integrations with third-party digital health vendors, Endear Health empowers payors to quickly deploy innovative programs in an efficient manner ultimately resulting in better member satisfaction and improved overall health outcomes.
“Blue Cross of Idaho remains at the forefront of closing gaps in care for Idahoans, and we are constantly seeking innovative, frictionless ways to improve the health and wellness of our members. We are excited to invest in Endear Health’s member-centric, digital solutions that connect seniors with plan benefits, programs, and even reminders for a check-up or screening.” Drew Hobby, Chief Revenue Officer for Blue Cross of Idaho.
Michael Chappelear
The latest funding round represents a significant milestone for Endear Health, reflecting the growing recognition of the company’s promising impact on the healthcare industry, particularly for older adults. With the new capital injection, Endear Health is well-positioned to scale its operations, expand its team, and continue innovating its platform to meet the evolving needs of Medicare Advantage plans and risk-bearing entities nationwide.