- Pillo Health is a company that has developed voice-enabled medication and care management platform for the home.
- And Pillo Health recently raised $11 million in funding from investors to complete its Series A round
Pillo Health is a Boston-based healthcare technology company that is improving longevity and quality of life for patients who are managing their health at home. To further achieve its goals, Pillo Health announced it raised $11 million in funding from several investors to complete its Series A round.
Currently, six in ten Americans live with at least one chronic condition — which is a leading driver of healthcare costs across the country. And medication non-adherence amounts up to $289 billion in wasted costs annually and leads to a higher mortality rate in the US.
What does Pillo Health do? It has built a voice-enabled medication and care management platform for the home.
And Pillo Health offers partner organizations with an in-home interface and HIPAA-compliant technology platform for creating customized voice-first health and wellness experiences. This empowers them to deliver better care into the home, enhance patient connections to their care teams, and align with the growing trend of voice-enabled technologies in the healthcare industry.
This round of funding was led by Stanley Black & Decker’s venture capital arm with significant participation from Samsung Ventures. Existing investors such as BioAdvance, Hikma Ventures (corporate venture capital arm of Hikma Pharmaceuticals PLC), Hackensack Meridien Health System’s Innovation Center Fund, and Civilization Ventures also participated in this round.
Stanley Black & Decker’s investment in Pillo Health was strategic as the companies are jointly launching Pria by BLACK+DECKER in the U.S. later this year. Pria is going to be powered by the Pillo Health platform and is going to be available for consumers to purchase in late summer online.
“We look forward to the continued evolution of the Pillo Health platform as we work with organizations addressing the management of chronic conditions for patients at home,” said Pillo Health co-founder and CEO Emanuele Musini. “Stanley Black & Decker and Samsung have made a strong commitment to the health and wellness of millions of Americans looking to remain independent longer, with a focus on tailoring voice-first technologies for their customers and revolutionizing the way healthcare is delivered into the home.”
Pillo Health is going to use the funding to continue development of its HIPAA-compliant technology platform and develop more voice-first experiences for partners in order to deliver digital health solutions into the home. The company is also currently hiring in its Boston and Genoa, Italy offices.
“Pillo and Pria represent an important and growing strategic focus for our organization as we continue to find ways to help seniors age in place at home and enjoy their later years in familiar surroundings. The partnership between Pillo Health and Stanley Black & Decker is strong, and together we expect to have a large impact on the senior healthcare market with more innovations on the horizon,” added Stanley Ventures VP Larry Harper.
