The Helper Bees, an InsurTech company aimed at helping elderly people avoid care homes, has raised $12.8m in its Series B funding round.
Trust Ventures served as the lead investor, with contributions also coming from Silverton Partners, Northwestern Mutual Future Ventures, Impact Engine, and Congress Avenue Ventures.
The capital injection comes after a period of strong growth for The Helper Bees, which has increased its revenue by three-times in just over a year and grown its team by eight-times.
With the capital, The Helper Bees expand its technology to support more people.
The Helper Bees platform aims to help older adults that want to age independently at home with the support of insurance carriers. It does this via advanced data analytics and tech-enabled services to streamline the insurance claims process and experience.
It claims that 90% of aging Americans would prefer to remain in their own homes than move to a nursing home or assisted living facility. To support this, The Helper Bees convened a network of in-home service providers on to a single delivery platform. Its network includes a selection of aging-in-place services, such as home modification and pest control.
Each of the vendors on the platform have been vetted by The Helper Bees and must meet Medicare standards.
The Helper Bees CEO and co-founder Char Hu said, “Because all of these aging-in-place services live on the same platform, payers have access to standardized data and next-level insights.
“When combined with our industry-leading digital claims tools, the two-way data stream allows for a completely personalized aging experience. This means that The Helper Bees is in a position to understand aging-in-place in America better than any other provider. We have started to use this aggregated data around utilization and efficacy to inform future targeted interventions to empower aging in place.”
The InsurTech company closed its Series A funding round on $6m in 2020, with commitments coming from Silverton Partners, Austin Impact Capital, Techstars and unnamed angel investors
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