Washington: MemoryWell Inc., a digital data platform that promotes person-centered care through life storytelling, today announced $2.5 million in new Series Seed funding. The company will use this funding to scale its platform and to continue to build its predictive social determinants of health AI rating system.
Boston-based Argon Ventures is leading the round, which was oversubscribed. Also participating in the round are notable social impact funds, strategic health care investors, and experienced backers focused on the applied use of deep-tech solutions. They include Bob Davoli from Gutbrain Ventures; PBJ Capital and Andy Palmer from Koa Lab; Inflect Health; Pixel Perfect Ventures; One Planet VC and Innovations for Impact.
“MemoryWell grew out of my experience caregiving for my father, who had Alzheimer’s,” said Jay Newton-Small, MemoryWell founder. “I never imagined that story would grow into an AI company that is poised to transform healthcare.”
MemoryWell, based in Washington D.C., has partnered with more than 40 care providers since 2017, working in Alzheimer’s and dementia care, senior living, home care, Medicare Advantage plans, hospice and palliative care. This quarter, MemoryWell is launching large-scale pilots with Prospero Health, a home-based supportive care company, and PCH Mutual Insurance, a national insurer of senior living providers.