Betterleave brings in $2.4M for end-of-life care
Betterleave, a web-based platform that partners with organizations to improve end-of-life care, raised $2.4 million in funding, CEO Cara McCarty Abbott tells Axios exclusively.
Why it matters: There are more than 30 million Americans caring for an adult.
Details: The round was led by Chingona Ventures and included Bread and Butter Ventures, Vitalize VC, Wisdom Ventures Fund, and AARP.
- Abbott said the company is generating revenue but declined to share specifics.
- "Everything we do has to be measurable and we are operating with a balance of profitability and scale," she says.
How it works: The Austin-based company offers a comprehensive digital and clinical care solution.
- On the consumer side, Betterleave provides info and data, deploy a playbook, reactive and independent on the data given and create a personalized care journey, with access to a care team and mental health providers.
- With a focus on grief and mental health, Betterleave offers personalized administrative and counseling services.
- "There can be a care gap from pre-loss to post-loss and we provide support on both ends," Abbott says.
- The company is in network with Humana, Aetna, Cigna, United, BCBSTX, Oscar, Medicare and currently in six states.
Zoom in: "Because we are a start up, we have to have plan how to use funds and make sure that every decision we make, impacts our members and / or organizations, based on outcomes and ROI."
What's next: On the members side, funds will go towards health assessments and measuring the digital check ins.
- "We also have expansion plans and should be in 20 states by the end of next year," she says.
- The company is also working on partnering with Medicare Advantage groups, which is a growing population.
- "We would like to hit some milestones and goals, so that we can fundraise again around this time next year."
The bottom line: "We want to be the one to move the needle in terms of mental health and the intersection of grief and loss with clinical data."