MIAMI (November 9, 2021)—Papa, a curated platform of companionship and support for older adults, families, and other vulnerable populations, announced the close of their Series D funding. The $150 million raised will help address social determinants of health, including loneliness and isolation, for older Americans and others who stand to benefit from companionship and everyday assistance. Through access to on-demand and at-home social support, those enrolling in Papa are less likely to need costly medical intervention and more able to live independent and healthy lives.
New connected health research from Parks Associates finds 73% of current caregivers are likely to buy an independent living solution for their loved one. Among these intenders, 28% are planning to acquire a smart watch, 25% a PERS solution, 25% a professionally installed home sensor system, and 22% a smart speaker/display solution.
