Rippl Closes $32 Million Seed Round

Rippl, a startup focused on delivering virtual memory care to seniors with dementia, has announced that it has completed a $32 million round of funding which includes an impressive list of investors, such as ARCH Venture Partners, General Catalyst, GV (formerly Google Ventures), F-Prime Capital, and Mass General Brigham Ventures.

The Seattle-based company plans to use the new capital to fuel its strategic growth, focusing on delivering virtual mental healthcare to seniors with dementia and other neurocognitive conditions.

Creating Better Solutions 

According to a report published in the American Journal of Managed Care, the cumulative cost of dementia-related treatment reached $305 billion in 2020. This high price tag makes it a significant concern for healthcare providers and patients.

According to Rippl’s co-founder and CEO, Kris Engskov, ‘current mental health care solutions for seniors are broken. The healthcare system is not designed for seniors with mental health challenges, leaving many families and caregivers to navigate these conditions alone. Rippl focuses on keeping seniors out of the ER and happier at home.’

According to Kris Engskov, the company will be built with a deliberate, calculated approach. The current model for dementia care is broken, and it “is a very difficult problem in healthcare,” Engskov said in an interview with Digital Health, Business & Technology. “It’s going to take some time, and I think our investors understand that.” 

A Holistic Approach

According to Engskov, for Rippl to be successful, family caregivers, payers, and clinicians must support Rippl’s holistic vision. 

Engskov stated, “Traditional fee-for-service healthcare doesn’t pay for holistic care in this space,” and “that’s why we’re approaching this from a value-based glide path. I think getting the right payer relationships early will be critical to our success.”

Rippl’s clinical operations vice president, Karrie Austin, said in an announcement that the new team comprises people from various backgrounds. They are dedicated to providing quality care for patients and their families. According to Austin, what connects the team members is their shared commitment to caregiving. 

Value, Assessabillity, and Quality are Key

According to Engskov, “our investors and I are aligned on that we’re going to do this the right way. We’re not going to grow for growth’s sake. We’re going to work on this model and get it right”.

Rippl plans to offer pilot program services this fall in Seattle and expand to 3-4 additional markets by 2023. Additionally, they will use the funding to hire and train staff, launch a clinical support center, and open a pilot network in Seattle, WA.

At Rippl, they understand that to be successful, it’s essential to create a healthy workplace culture where clinicians can thrive. In addition to providing competitive compensation and benefits, they are also working with teaching institutions to design an “academy” focused on upskilling and recruiting talented team members.

Rippl aims to pioneer a new care model for seniors by expanding access to mental health care by providing 24/7 access to care through phone, online, or at patients’ homes. Rippl could potentially partner with home care and hospice agencies as they move forward with their plans.