By Nancy Dahlberg
On a mission to improve the Medicare experience for seniors through innovative engagement solutions, Miami-based healthcare technology startup Endear Health announced it has closed an $8 million funding round.
Optum Ventures, a Boston-based healthcare focused firm, led the Series A round that included Blue Cross of Idaho, 8VC and additional strategic partners. Endear Health also raised a $4 million seed round in 2022, according to Crunchbase.
“Endear Health is a white label technology platform built to engage members in value-based care,” including Medicare Advantage plans, Medicaid and other plans, explains co-founder and CEO Chris Boudreaux, in an interview with Refresh Miami. “With that, our goal is to connect them to all the resources, benefits and programs that the health plan provides, and make sure that that the way we do it is as accessible as possible.”
“There’s been a thought process that older adults don’t use technology but actually it’s been more that technology hasn’t been tailored to the way that they need to use it. We wanted to break that mold,” adds Boudreaux [pictured above]. “We wanted to build technology for health plans that have traditionally been the best at it, and really take it from there. We’ve been fortunate to have a great group of advisors and investors.”
Endear acts as the health plan member’s digital experience, where the member can access the app on their phone or tablet and find everything they need in one place while Endear powers integrations with the vendors behind the scenes. “We are excited to invest in Endear Health’s member-centric, digital solutions that connect seniors with plan benefits, programs, and even reminders for a check-up or screening,” said Drew Hobby, chief revenue officer for Blue Cross of Idaho.
Boudreaux co-founded Endear in 2021 with COO Michael Chappelear. They previously held leadership roles at San Francisco Based Castlight Health, among other healthcare industry experience. Endear launched in the Bay Area, and Boudreaux moved to Miami in the spring of 2022 and then relocated the company. The draw: the expansive Medicare community to test their products on and the welcoming tech community.
The funds will be used to accelerate the development and expansion of Endear Health’s proprietary platform, support upcoming health plan launches on Jan. 1, and expand the team, Boudreaux said. “It’s a tough environment out there. We feel really fortunate to have raised, and we want to make sure we hire at a rate that sets us up for long term success.”
Boudreaux is hiring for engineering and customer success. Currently, the team of nine is distributed around the country. “But our headquarters is here and when we’re going to hire more folks, they’re going to be in South Florida.”
How is Boudreaux finding Miami? “I love it, I would not have moved anywhere else. I think the startup community is growing and super healthy and I’m excited to meet other healthtech founders,” he said. “We’re excited to continue to grow.”
This report was updated. Follow Nancy Dahlberg on X @ndahlberg and email her at [email protected]
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