Wednesday, December 6, 2023

Ounce Raises $5.2M for Housing and Care Coordination Platform


Ounce, a startup that goals to “bridge the space” between well being and housing, introduced Thursday that it has secured $5.2 million in seed investment. As well as, the corporate introduced its first set of companions: AmeriHealth Caritas D.C. and Nationwide Housing Agree with.

Washington, D.C.-based Ounce works with payers and reasonably priced housing homes. It has a crew of group well being staff who paintings inside of reasonably priced housing homes to reinforce their citizens. The employees evaluation citizens for gaps in care and be offering onsite well being clinics and screenings. In addition they lend a hand citizens join in public advantages like Medicaid or SNAP. As well as, the employees will direct them to healthcare and social products and services, together with scheduling number one care appointments and serving to them observe for condo reinforce. The Amerihealth Caritas D.C. and Nationwide Housing Agree with partnerships deliver those products and services to greater than 2,000 citizens of reasonably priced housing throughout 9 homes in D.C.

“The elemental drawback [is] get right of entry to and engagement for low-income communities. … After I take into accounts what drove me to construct Ounce and deal with those issues, I’ve a existence venture motto: to create new issues that make society extra truthful,” stated Rachel Munsie, co-founder and CEO of Ounce, in an interview. “I will’t in reality bring to mind anything else that’s much less truthful than having this damaged carrier supply device for 90-plus million other people national and 300,000 people who find themselves on Medicaid in D.C.”

Ounce’s $5.2 million in seed investment was once co-led through Meridian Side road Capital and Flare Capital and incorporated participation from Chelsea Clinton’s Metrodora Ventures, Wilshire Lane Capital, Hilton CEO Chris Nassetta and Unite Us Co-founder Taylor Justice.

Meridian Side road Capital selected to put money into Ounce on account of its determination in addressing social determinants of well being, stated Scott Regulation, basic spouse of Meridian Side road Capital.

“Ounce represents a paradigm shift in how we deal with the interconnected demanding situations of well being and housing,” Regulation stated in a remark. “Spotting the profound have an effect on of social drivers of well being on person well-being, Ounce’s fashion brilliantly converges healthcare and housing answers. We consider that through making an investment in Ounce, we’re backing a pioneering manner that may redefine well being for underserved communities like the ones dwelling in reasonably priced housing.”

With the financing, Ounce plans to extend its achieve in Washington D.C. Someday, it additionally goals to paintings in different metropolitan spaces, Munsie stated.

“We’re desirous about and taking a look at towns that may make sense for long term rollouts. … I feel that giant metropolitan spaces — whether or not that’s Boston, Philadelphia, New York or even West Coast markets like California which might be doing in reality leading edge issues from a Medicaid investment standpoint and coverage standpoint — were extremely fascinating to us,” she stated.

The investment comes at a time when about 27,000 low-income families in D.C. are going through demanding situations with housing. The go back to Medicaid redeterminations is most effective exacerbating the problem. Ounce in the end goals to reinforce this inhabitants and scale its industry to achieve extra other people, Munsie stated.

Picture credit score: Lolon, Getty Pictures


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