The company launches with $9.5M in initial funding led by Target Global
NEW YORK, May 10, 2022 (GLOBE NEWSWIRE) — Reverence, a digital health company reinventing how in-home care is managed, today emerged from stealth with an initial raise of $9.5M led by Target Global. The company has also acquired an AI-powered staffing platform, Hirehand, providing both a key building block and an immediate opportunity to improve the management of home-based care services.
The pandemic, coupled with an aging U.S. population, has ignited a major shift in where and how care is delivered. Healthcare is increasingly transitioning from traditional facilities to in-home models due to patient preference and improvements in remote care models. Yet even as home-based care has become more popular, an acute shortage of caregivers, coupled with challenges coordinating across paid and family support, have limited the industry’s ability to realize the full potential of home care.
“We’ve only scratched the surface of how home-based care models can improve and save lives,” said Lee Hudson Teslik, founder and CEO of Reverence. “Our technology provides the connective tissue needed to bridge the gap between hospital and home—unlocking new possibilities and paving the way to a stronger, more sustainable, and more clinically effective future for home-based care.”
Reverence’s digital-first product suite streamlines and improves the end-to-end experience for the home care ecosystem—including patients, family caregivers, clinical and non-clinical practitioners, and provider groups. At the core of this platform is Hirehand’s unique staffing product, which leverages artificial intelligence to help provider groups optimize who they send into a patient’s home and when—better matching carers to patients and increasing coverage of market demand.
In addition to improving practitioner satisfaction and retention, Reverence provides tools and training to maximize practitioner impact on patient health and well-being. For example, the platform powers data-sharing across all practitioners entering the home, including family caregivers, and provides condition-specific checklists supporting more rigorous and clinically-sound in-home care plans.
In the coming months, Reverence will expand its offerings with a focus on guiding clinically sound and financially sustainable care models. Family members will have the opportunity to integrate their insights and observations alongside input from paid practitioners to inform the best possible care plan and improve patient outcomes.
“Lee and the Reverence team have identified an incredible opportunity to transform a rapidly growing industry at a critical time,” said Dr. Ricardo Schafer, Partner at Target Global. “As it stands, the home health industry is not equipped to provide clinically effective care at scale; but Reverence is changing that. We’re honored to join them on their mission to raise the quality and dignity of home-based care.”
The capital raised will enable Reverence to advance its end-to-end suite of products, build an expert team of care advocates, and deepen its clinical impact.
For more information visit http://reverencecare.com
Reverence is a digital health company reinventing how in-home care is managed. Reverence combines technology and data with a people-first approach that benefits the entire care ecosystem: caregivers, patients + families, and provider groups. Reverence’s digital-first platforms and tools operationalize clinically effective home-based care at scale. To learn more, visit reverencecare.com.
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