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Monday, August 15, 2022
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Tomorrow Health Raises $60 Million in Series B Financing; Plans to Scale Up Proprietary Technology and Enter New Markets

Human beings’ skill-set, as we know, is made up from a lot of valuable elements, and yet if we take a second and assess it, we’ll notice how nothing there is more valuable than our ability to make things consistently better. You see, when an individual is able to scale up under every situation, they steer themselves towards some huge milestones along the way. The same is notably proven by all what we have achieved so far, with technology appearing as the best representation of the lot. Technology gets to be a cut above others for reasons that were never just about its unique offerings. Instead, they also revolved a great deal around the manner in which it used those offerings to impact our entire spectrum. Now, while this dynamic was significant right from the get-go, it reached a whole different level once technology’s impact spilled into our healthcare sector. We say it because the foray came at a time when the sector was really struggling against an outright obsolete structure. By instilling new and smarter ideas, technology was successful in reimagining the medical landscape. Nevertheless, even after doing so much, the medtech linkup will continue to trudge ahead in one way or the other. In fact, a recent funding should only aid this progression.

Tomorrow Health, a platform that makes it easier for patients, providers and payers to coordinate home-based care, has successfully secured over $60 Million in Series B financing. Led by BOND, the round saw further participation coming from the likes of Andreessen Horowitz, Obvious Ventures, BoxGroup, and Sound Ventures. According to certain reports, Tomorrow Health will use the newly-raised cash to improve its proprietary technology, while also setting aside a chunk of the funds to fuel an expansion drive. Apart from it, the company has concrete plans to make a hiring push, and consequentially, bolster personnel across business development, engineering, and product and operations teams. Talk a little more about Tomorrow Health’s core function; the company basically helps patients in conceiving an infrastructure that is required to establish an effective connection and coordination between medical providers, home-based care suppliers, patients and payers. It does so by matching patients with medical equipment suppliers. Interestingly enough, Tomorrow Health’s recommendations are heavily predicated upon various data-driven metrics such as quality, devices’ clinical appropriateness, insurance coverage and geography.

“Home-based healthcare represents a $195 billion market opportunity. Labor shortages, demographic shifts and evolving patient preferences are helping fuel demand for high-quality home-based care,” said BOND General Partner, Noah Knauf. “Tomorrow Health has the team, technology, and deep industry expertise to make quality care at home – and at scale – a reality. Countless patients are already experiencing the value that Tomorrow Health has brought to market.”

In order to make the whole operation economically feasible, Tomorrow Health partners has also partnered with several national, regional and provider-sponsored health plans. At the moment, the company has over 125 health plans on its roster, and assuming the number grows over time, it will do a lot in ensuring sustainable success for home-based care.

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