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Blooming Health Raises $4.2M in Oversubscribed Round to Power Healthy Aging-In-Place

EW YORK, Sept. 6, 2023 /PRNewswire/ -- Blooming Health, a digital engagement and referral solution enabling service providers to engage older adults and their family members, today announced the close of an oversubscribed $4.2 million seed round. Investors include Afore Capital and Crossbeam Venture Partners, with additional investment from Chelsea Clinton's investment firm, Metrodora, and angel investor and DoorDash Cofounder, Evan Moore.

In addition to the funding, Blooming Health also announced that Andrew Parker, founder and CEO of Papa, a unicorn agetech company offering individuals and families access to vital companionship and care, will join the company's advisory board.

Blooming Health is an inclusive solution to equip community-based aging care providers with the technology to remotely engage and address the social needs of tens of thousands of older adults and caregiver clients in a personalized way across text, voice calls, emails, and over 30 languages. The company was co-founded by Nima Roohi, Ph.D., Kavitha Gnanasambandan, Ph.D., and Naman Gupta.

"At Blooming Health's core is a desire to change the way society ages by providing proactive access to holistic care in an equitable way," said Nima Roohi, Co-Founder and CEO of Blooming Health. "With the support of our investors, we are thrilled to continue growing rapidly, making key hires, and further advancing in our mission to serve as a single touchpoint for all aging-in-place needs so older adults can receive the care they need, when they need it."

Blooming Health's user-friendly platform addresses the vital needs of older adults and the family caregiver population, including wellness check-ins and needs detection around nutrition access, transportation and mobility, emergency preparedness, and follow-ups on the outcome of services provided to thousands of individuals every day. The platform is utilizing AI, automation, and advanced data analytics that sit on top of the telecom infrastructures to engage older adults, detect needs, and facilitate service delivery in a personalized and proactive process. As a result, Blooming Health is extending the already human resource constrained care economy and helping older adults receive the day-to-day social, healthcare, and financial support and services they need to live healthier and more independently in their communities, reducing healthcare and long-term care costs significantly in the $1 trillion aging economy.

With operations across New York, Arizona, Texas, and California, care providers have seen a three-fold increase in clients' social engagement, while saving 15 hours per week for staff using Blooming Health's solution. Blooming Health is expanding operations to Pennsylvania, Ohio, Indiana, and Michigan and targeting to reach 1 million older adults by the end of 2024.

"With an aging population and longer lifespans, technology will play a key role in preventing aging service providers and local government officials from being overwhelmed," said Sakib Jamal, Vice President at Crossbeam Venture Partners. "The team has already shown increased utilization of social programs among their community and government clients, and we are optimistic this impact will scale nationwide."

"As we navigate an era marked by an aging demographic, the fusion of technology and aging services emerges as a beacon of promise," shared Gaurav Jain, Co-founder of Afore Capital. "What caught our attention with Blooming Health is their resolute commitment to reshaping the landscape of senior care. The company's mission to help older adults live healthy, independent lives is one that we believe in deeply. We're honored to stand behind their journey."

"Blooming Health is transforming the way we meet the social and healthcare needs of older adults through its platform that both enhances access to vital services and creates a more connected ecosystem for stakeholders at every level," said Chelsea Clinton, co-founder of Metrodora Ventures. "We are proud to support Blooming Health in its mission to build a future where aging is accompanied by dignity, support, and a thriving sense of community."

Blooming Health's growing list of partners includes community organizations like Catholic Charities, tens of Area Agencies for Aging (AAAs), NY State Office for Aging (NYSOFA), Oak Street Health, and the AARP Foundation. With the company's collaboration with the AARP Foundation, over the past 6 months, Blooming Health has added access to close to $10 million worth of services for older adults. This includes over 350,000 meals, and over 200,000 programs across health and wellness, education and recreation, and transportation.

About Blooming Health
Blooming Health's mission is to power healthy aging-in-place. Blooming Health's inclusive platform equips community-based aging care providers with the technology to remotely engage and address the social needs of tens of thousands of older adults and caregiver clients in a personalized way across text, voice calls, emails, and over 30 languages. With operations across New York, Arizona, Texas, and California, Blooming Health's platform is helping older adults receive the day-to-day social, healthcare, and financial support and services they need to live healthier and more independently in their own communities, reducing healthcare and long-term care costs significantly in the $1 trillion aging economy. For more information, visit https://gobloominghealth.com/

About Afore Capital
Afore Capital is a VC with $300 million in AUM co-founded by Anamitra Banerji & Gaurav Jain. We support product-oriented founders building software companies at the very earliest stages. At Afore, we believe that before there's a company, before there's a business, there's a product-oriented founder leading by product. The products are often raw, sometimes just rough concepts requiring a lot of imagination. They are pre-traction and pre-obvious. But they come from founders with non-obvious insights and infectious ambitions. For more information, visit https://www.afore.vc/

About Crossbeam Venture Partners
Crossbeam Venture Partners (Crossbeam) is a venture capital firm that invests in Pre-Seed to Series A startups building tomorrow's economy. Focused on the themes of platform economies, fintech, new forms of media, and alternative sources of income, Crossbeam is built to back companies of the next-generation economy utilizing unique structures, credit, or novel business models. For more information, visit https://crossbeam.vc

About Metrodora
Metrodora Ventures is an early-stage venture firm focused on health and learning businesses.

SOURCE Blooming Health

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Thursday, September 7, 2023

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