LOS ANGELES--(BUSINESS WIRE)--HeyRenee, the newest health-tech innovation from Dr. Renee Dua and Nick Desai, the founders of Heal, today announced an oversubscribed $4.4 million Seed II funding round led by Quiet Capital, with participation from City Light Capital, Fika Ventures, Global Founders Capital, Mucker Capital, SaaS Ventures, and Tau Ventures. HeyRenee has raised a total of $8.2 million and tripled its valuation in just five months.
The Company was also named a health-tech finalist in the Mass Challenge, which includes a pilot with PandemicX, the new health equity focused initiative of the United States Department of Health and Human Services (HHS). “I’m excited for the PandemicX Accelerator cohort (which includes HeyRenee),” said Admiral Rachel L. Levine, MD, Assistant Secretary for Health at HHS. “We are at our best when all segments of society work together; we must work collaboratively to achieve the best solutions."
“HeyRenee is a personal healthcare assistant that unifies the myriad complex aspects of healthcare into one intuitive, delightful experience specifically designed for underprivileged, older Americans who often have lower health and tech literacy and multiple health, social, and cultural factors that require coordinated attention to realize improved outcomes,” said Nick Desai, Co-Founder and CEO of HeyRenee. “Quiet Capital and Morgan Livermore are exceptionally high value-added lead investors. Along with Fika, Tau, and our other investors, they fuel our unrelenting pursuit of health equity for all Americans.”
Though coordinated care has been reportedly proven to lower healthcare costs by $7,700 per patient per year, a staggering 74 percent of seniors still lack a coordinated care plan. This problem is exacerbated by the reality that 53 million Americans already struggle to care for older loved ones and there will be a shortage of 1.2 million home health aides in the next decade. An aging population with over 100 million Americans suffering from two or more chronic diseases is driving the fast growing $9.6 billion per year U.S. market for care management software solutions. HeyRenee aims to ease this burden through high touch, coordinated care across the entire healthcare ecosystem, starting with patients and doctors.
“U.S. healthcare desperately needs scalable, cost-effective, whole person digital care coordination. We can't think of two better people to deliver on these needs than Nick and Renee,” said Morgan Livermore, Partner at Quiet Capital. “Their backgrounds in innovating healthcare technologies and their commitment to ensuring quality care are ideal for delivering a solution that empowers all healthcare stakeholders to collaborate and improve patients' health.”
Set to launch in early spring 2022, HeyRenee aims to be the first-ever open platform to work with every provider, partner, and point solution to seamlessly curate the perfect combination of services for each patient's specific needs and then guide patients through an easy, interactive daily plan.
“I was immediately drawn to Renee and Nick's mission and their incredible progress in five short months is breathtaking,” said Eva Ho, Partner at Fika Ventures. “We are thrilled to support their journey to be the personal care concierge every American needs to care for themselves and their loved ones.”
“As a practicing physician of nearly 20 years, I have personally felt the need for whole person care coordination,” said Dr. Renee Dua, Chief Strategy Officer and Co-Founder of HeyRenee. “With the help of all our investors, we can fulfill this need in a way that delights patients, alleviates doctors, and drives down healthcare costs.”
HeyRenee is the personal health concierge, everyone, especially those managing chronic illnesses and conditions, has wanted and needed. The patient centric, HeyRenee platform is designed to consolidate, coordinate, communicate and connect all aspects of medical care. Through long-sought data integration with healthcare providers, the platform endeavors to eventually help all Americans, the underserved especially, connect with their entire healthcare team and relieve the burdens of appointment scheduling, in-home visits, prescription medication administration to Telehealth and remote patient monitoring, and more. Co-founders, Dr. Renee Dua and Nick Desai, have created HeyRenee to serve as a digital best friend that can bridge the divide in the digital transformation of American healthcare. The HeyRenee platform will help achieve health equity through innovation. Learn more here: HeyRenee.co