Participated · Series A · Jul 2020

The Helper Bees operates a technology platform that helps older adults age safely at home by connecting payers and families to the largest and most diverse network of non-medical providers nationwide. Its marketplace coordinates services such as in-home caregiving, home modifications, groceries and meals, pest control, housekeeping, and transportation. The company reports a network of 20,000+ providers and says 43 of the largest payers tap into its platform; it is integrated into most Long-term Care and Medicare Advantage plans. The Helper Bees also launched helpful™, a flexible spending card designed to simplify payments for caregivers, providers, and payers. The company says its platform reduces administrative burdens for insurers around credentialing, fulfillment, and reimbursements and has helped millions of Americans retain independence. With new capital, it plans to broaden its reach and accelerate entrance into Medicaid and payment innovation. The Helper Bees provides an Aging-in-Place Marketplace and tech-enabled services that convene vetted in-home service providers onto a single delivery platform for payers and insureds. Its platform combines advanced data analytics, digital claims tools, and healthAlign’s compliance technology to streamline claims and drive cost savings for Long-Term Care Insurance and Medicare Advantage carriers. The company vets providers with a proprietary credentialing process aligned to Medicare standards to ensure compliance with federal, state, and local regulations. Using aggregated utilization and efficacy data, The Helper Bees aims to personalize aging-in-place interventions and inform future targeted services. Earlier this year the company acquired healthAlign and entered the Medicare Advantage market. The Helper Bees has grown rapidly recently, increasing revenue 3x in just over a year and expanding its team 8x. The company plans to expand its Marketplace services and delivery to reach a wider variety of aging Americans and other organizations that support caregivers. The Helper Bees builds software and services that combine skilled professionals with a proprietary, data-driven technology platform to improve the home-care experience and claims processing for long-term care, workers’ compensation, and disability carriers. Its Care Concierge program shows early success in bending the claims cost curve and helping people remain healthy and independent at home longer. THB works with insurance carriers to digitize operations, source care options, and apply machine learning for care and claim analytics and processing. Since launching in 2017, the company has acquired over 12 insurance clients, most of which are large Fortune 300 companies, and its revenue grew 8X in the past year. The team completed the acquisition of nurse-care management company Dimensions and is led by cofounders Dr. Char Hu, Eric Corum and Danny Lynch. THB plans to use new capital to expand partnerships in the long-term care insurance market, further develop products to reduce costs and improve outcomes, and vertically expand into workers’ compensation and disability insurance markets.