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Dina plans to double workforce to tackle home health sector




Chicago-based Dina has raised $ 7million in Serie A and plans to double her squad
Image: Shutterstock

Dina, a Chicago start-up aiming to revolutionize the home care space with its AI-powered platform, ad On Monday, he raised $ 7 million in new funds. Series A was led by Osage Venture Partners, with participation from existing investors such as First Trust Capital Partners.

Co-founder and CEO Ashish Shah says he was inspired to create Dina in part by his late father, who spent the latter part of his life in and out of nursing homes and with home caregivers.

It just wasn’t a good experience, quite frankly, Shah told Built In. When I jumped my head out of it all, I found my story not unique. There are a lot of older people who really struggle to have a great experience. They’re often pushed into retirement homes, they come in and out of hospitals, and there isn’t a lot of information being shared.

Dina aims to change this reality by helping hospitals to better monitor and support the elderly in their homes. It does this by bringing together everything needed for quality home care, including a network of providers, telehealth tools, remote patient monitoring capabilities, and actionable information to meet the needs of a healthcare provider. given patient.

Shah describes Dina as a sort of mission control, managing all aspects of patient care so that they have the best possible experience. The platform is now used by hospitals, health insurers and home healthcare providers in 25 states.

CEO Ashish Shah describes Dina as a 'mission check' for home caregivers and hospitals to monitor patients remotely
Image: Dina

Do the math

While the Dinas platform was originally launched in 2015, it has grown in importance amid the pandemic, as the quality of home care is more important than ever. In fact, the company says its revenue grew 250% in 2020, facilitating more than 3 million digital dialogues to help providers manage their patients’ symptoms and recover along the way.

Dina has also deployed several new digital products to help hospitals like Philadelphia-based Jefferson Health, for example, remotely interact with and monitor their patients. This same technology has been used to help home care workers monitor their own health and ensure they have the resources and equipment they need to do their jobs despite the pandemic.

[This kind of technology] is something that is going to become ubiquitous in all health care, Shah said. It is more convenient for consumers and allows them to access care on their terms. It is also a more efficient mechanism financially … It is a lower cost of care than having to enter a hospital or other care facility. I think everyone is starting to do the math on this.

Going forward, this latest round of funding will be used to accelerate the development of new products by Dinas to help people digitally monitor and manage more chronic diseases such as congestive heart failure and chronic obstructive pulmonary disease. .

Shah says the company also hopes to double its current workforce of 25, with a focus on growing its sales, marketing and product teams over the next year.

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The silver tsunami

Beyond the pandemic, Shah predicts that this renewed focus on home care is here to stay, fueled mainly by the silver tsunami of baby boomers entering old age. Dina, he says, is in a privileged position to dominate this rapidly growing industry.

The rate at which baby boomers are aging in the Medicare-eligible 65 and over age group is very well documented. It happens. And it’s going to overwhelm the system, Shah said. Although people heard this and knew the numbers, I think COVID made it very obvious and speeded things up for everyone.

And it’s not just for the elderly, Shah continued. I think there is a recognition that this has to be the way health care works to move forward. It has to be practical, it has to be virtual, it has to be coordinated at home or wherever you are.

Also in ChicagoThese 10 Chicago tech companies raised over $ 1 billion in 2020

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