Helping elderly, infirm family members can be incredibly meaningful, but also incredibly exhausting. If you find yourself focusing too much on paperwork and other administrative and onerous tasks related to healthcare management then you need Wellthy. Wellthy, is a concierge service that helps you schedule appointments, manage healthcare records, research treatment options; serving as an overall personalized customer service team when it comes to managing all the facets of treatment. The company’s platform fueled by technology brings peace of mind to you and your family.
AlleyWatch spoke with CEO Lindsay Jurist-Rosner about her own experience that was the driving force behind the concept of the startup as well as the company’s most recent round of funding.
Who were your investors and how much did you raise?
Seed. Sweet Capital, Hearst, Aspiration Growth Ventures, HBS Angels, and Jonathan Bush.
Tell us about your product or service.
Wellthy is a healthcare concierge service. We use dedicated care coordinators and our seamless technology platform to project manage healthcare for families with sick or aging loved ones. Wellthy takes the pain out of healthcare – scheduling appointments, finding the right specialists, researching treatment options, managing insurance, organizing records, communicating with family members and much more. Our technology platform also stores and organizes everything digitally, making it easy to keep everyone in the loop regardless of location. We add a layer of much needed customer service to the health system – giving families help, hope and peace of mind.
What inspired you to start the company?
I’ve been helping my family in taking care of my mother who was diagnosed with MS 27 years ago. Through the experience with my mom, I started to connect with more and more people going through the same stress, struggles, and frustrations. I became personally compelled to create a better experience for my family and others like ours. Our founding team has over 50 years of experience taking care of sick and aging parents.
How is it different?
We’re building the business we’ve needed and wanted for our own families rather than focusing on fixing inefficiencies in the healthcare system. We are family-first and operate uniquely with a service plus software approach.
What market you are targeting and how big is it?
Family caregivers. There are 66 million in the US. (Source: Medicare)
What’s your business model?
We run on a subscription model.
What is the ratio of human/tech regarding servicing patients?
We service families with a combination of service and software.
What was the funding process like?
It was completely new to me, as I’m a first-time entrepreneur. It’s a challenging process, but I learned so much and am really appreciative of the companies and people I met along the way who have become investors and champions of our business.
What are the biggest challenges that you faced while raising capital?
With Wellthy, we’re creating a new business within a new category. We had to constantly explain how we differentiate from the other eldercare companies that have received VC funding in the past few years when we are really quite unique.
What factors about your business led your investors to write the check?
Investors see the caregiving and elder/chronic-care market as a massive and growing market. There are few (if any!) direct competitors. The founding team is uniquely equipped to build this business. And, the early customer response and business traction has been overwhelmingly positive.
What are the milestones you plan to achieve in the next six months?
Announcing several big partnerships that allow Wellthy to expand the number of families we’re supporting.
What advice can you offer companies in New York that do not have a fresh injection of capital in the bank?
Focus on solving a real problem. If you can offer a real solution, consumers will follow.
Where do you see the company going now over the near term?
Continuing to build the team, delight our customers, scale our service, and land promising partnerships.
What’s your favorite rooftop bar in NYC to unwind?
Not a rooftop, but I love pier for an outdoor summer drink.