This morning in-home care coordination platform Dina announced a $7 million Series A funding round. Osage Venture Partners led the round with participation from First Trust Capital Partners.
This comes roughly four years after the company raised $4 million from Chicago Ventures, Pritzker Group Venture Capital, Beverly Capital and Meridian Capital.
WHAT IT DOES
The platform uses artificial intelligence in order to enable care coordination for in-home care between different networks. The tools allows care teams to track patients as they leave the hospital and go to nursing homes, another hospital or back to their home.
Its services include coordination efforts, sharing patient data between care teams and offering insights that pinpoint gaps and unmet needs. This funding comes after the company reported a 250% increase in revenue in 2020.
“Our digital platform brings together several important aspects to deliver care-at-home models: a network of the very best home-based and post-acute providers, real-time collaboration tools, remote patient monitoring capabilities, and actionable home-based insights to facilitate clinical interventions and address the non-medical and social determinant needs of an individual," Dina's CEO Ashish V. Shah said in a statement.
WHAT IT'S FOR
The company plans on using the new funds to fuel the development of its care-coordination platform and expand its footprint to a national level.
Increasingly, we are seeing care coordination go digital. In July, care-coordination and telehealth companies Curavi Health, CarePointe and U.S. Health Systems (USHS) merged to create a new company, Arkos Health, which is focused on care coordination to support vulnerable senior populations.
We've also seen investor dollars pour into the space. In-home care-coordination network Honor announced a $50 million Series C funding round in 2018. Other care coordination fundings include Olio's $2.5 million raise, United Us's $35 million Series B and Gento's $5 million Series A.
ON THE RECORD
“We were impressed with Dina’s vision and approach to solving a very timely and massive problem of supporting people in their homes and communities,” Sean Dowling, partner at Osage Venture Partners, said in a statement.
“We believe in the company’s seasoned leadership team, who were able to execute in a very difficult operating environment in the middle of the pandemic. They are focused on building a great business with a world-class culture.”