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Understood Care, a patient advocacy company, has raised $8.4 million in funding, CEO Sam Wu tells Axios Pro exclusively.

What's next: The company plans to raise $15 million in Series A funding by the end of Q3, Wu says.

Follow the money: The raise comprises $5 million in seed funding led by Rethink Education and Zeal Capital Partners and $3.4 million in pre-seed funding led by 1984 Ventures, with participation from Y Combinator.

How it works: Understood Care hires patient advocates who work virtually as contractors, Wu says.

The advocates use the company's AI assistant for tasks like ordering ' durable medical equipment, making appointment phone calls and filling out claims forms.

The company has also developed its own EHR that helps manage patient interactions. 

Most patients with Medicare don't pay for the service out of pocket. The company also accepts Medicare Part B and certain Medicare Advantage plans.

The average active patient reaches out to advocates around five times per month via text messages, phone calls and emails.

Zoom in: Understood Care, which acquires most of its patients direct-to-consumer, will use some funding to grow its referral channels, Wu says.  

What they're saying: "Patients get a dedicated advocate that is a trained health care professional," Wu says. "There is no patient-facing AI."

State of play: Understood Care joins a growing list of AI-enabled patient advocacy companies, including Solace Health, which reached unicorn status in February. 

Exclusive: Understood Care raises $8.4M for patient advocacy

The company is planning to raise another $15 million.

Illustration of a hundred dollar bill with Benjamin Franklin dressed as a doctor and holding a prescription pill bottle.

Understood Care, a patient advocacy company, has raised $8.4 million in funding, CEO Sam Wu tells Axios Pro exclusively.What&#x27;s next: The company plans to raise $15 million in Series A funding by the end of Q3, Wu says.

Exclusive: Understood Care raises $8.4M for patient advocacy

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