Rippl, a leader in virtual dementia care, announced the closing of its Series A funding round. Tina Hoang-To (Kin Ventures Founding General Partner) led the $23 million round with participation from Rippl’s seed investors ARCH Venture Partners, General Catalyst, GV (Google Ventures), F-Prime, Mass General Brigham Ventures, and 1843 Capital. And JSL Health also joined the round.
The funding will fuel three key pillars of Rippl’s strategic plan:
1.) Expanded geographic footprint – Rippl announced a partnership with the Alzheimer’s Association earlier this year, combining Rippl’s proven model of expert virtual care with the association’s extensive resources, including its 24/7 helpline and community education and support services. The two organizations serve patients and families in Washington, Texas, Illinois, and Missouri. Rippl’s new capital will fund an aggressive plan to expand coverage to several new states over the next four years – including California, Florida, and Arizona.
2.) New payment models, particularly value-based – The company will continue partnering closely with Medicare Advantage Plans, ACOs, and other payors and providers to deliver its unique wrap-around care model in value-based arrangements. In addition, the Dementia Care Navigation Service, powered by Rippl and the Alzheimer’s Association, was selected by the Centers for Medicare & Medicaid Services (CMS) to participate in their new alternative payment model known as the Guiding an Improved Dementia Experience Model (GUIDE), which launched July 1, 2024. As a trusted partner to clinicians, hospitals, and health systems, this new service has been rapidly onboarding people living with dementia and their caregivers, providing much-needed relief at no cost to them.
3.) Tech enablement — The Series A funding will drive Rippl’s AI and technology roadmap. In April, Rippl acquired Kinto, an AI-enabled dementia caregiver support platform, integrating the talented Kinto team and their research-backed technology. Rippl is well-positioned to accelerate the adoption of technology advancements and AI tools to enhance patient and caregiver support, further powering scalability.
This funding will accelerate the Rippl team’s progress since serving its first patient in January 2023.
KEY QUOTES:
“With this investment, we will continue to deliver on our mission to provide the highest quality support for those navigating the challenges of dementia. People affected by this disease have been undervalued and underserved for far too long. We founded Rippl to dramatically expand access to the highest quality, speciality care for patients, caregivers, and families struggling with this disease. And, keep them at home and out of the ED and hospital, a place they end up far too often. This new funding is a testament to the confidence our investors have in our vision.”
-Kris Engskov, Rippl Co-founder and CEO
“Rippl is at the forefront of a critical shift in dementia care. I am excited to join the team and support their mission to become the largest national network of healthcare providers for senior-focused behavioral health while improving the lives of those affected by dementia.”
-Tina Hoang-To, Founding Partner at Kin Ventures
“We are ready to scale. The heartfelt gratitude we hear from caregivers and families everyday reinforces our confidence in the difference we can make. Our dedicated care teams are making significant strides in reducing caregiver strain, improving patient outcomes and helping them stay safely in their homes while avoiding unnecessary ED visits and hospital stays.”
-Dr. Jamie Sharp, Rippl Chief Medical Officer
“In addition to our value-based arrangements with Medicare Advantage plans, we are thrilled to be collaborating with major health systems like Houston Methodist, Springfield Clinic, St. Luke’s Hospital, and Providence Health, as part of the CMS GUIDE program to extend our reach. These partners share our deep passion for improving quality of life for people living with dementia and their caregivers.”
-Chief Growth Officer JP Sharp
