Assured Allies, an Israeli-American insurtech company that deals with evidence-based successful aging, announced that it has closed a $42.5 million Series B funding round, bringing the total capital raised to $65 million.
Assured Allies’ platform combines machine learning and predictive analytics with the latest science of aging and essential human support to offer successful aging programs that reduce the risk of disability and next-generation retirement products that make long-term care insurance accessible and financially sustainable.
The funding comes amidst surging growth in Assured Allies’ platform this past year, having partnered with several leading long-term care insurance carriers and growing the number of members on its platform by over 300%. The capital raised will fuel further growth and expansion of the company’s carrier and partner network.
“We are thrilled to continue our support of Assured Allies and their innovative approach to improving the lives of older adults. Assured Allies' unique blend of technology and human touch has already shown great promise, and we are excited to see where this next round will take them," said Tomer Goldberg, managing director of Harel Technology Investments, which was among this round’s top investors.
Assured Allies launched its first product, AgeAssured, in 2020. This science-based platform is designed to reduce disability and support aging at home on a large scale, offered in partnership with long-term care insurers. According to the company, the program has demonstrated a significant and sustained impact on reducing the cost of long-term insurance claims by roughly 20%.
The company’s second product, NeverStop, is an AI-driven platform for creating, underwriting, and supporting the next generation of retirement products. The NeverStop platform integrates digital underwriting, personalized risk reduction strategies, and financial support so that individuals aged 55+ can lower their risk of disability and live longer and better in their homes.
“The need for innovative long-term care solutions for the aging population has never been greater,” said Roee Nahir, co-founder and CEO. “With the US longevity economy valued at over $8 trillion, this blue ocean opportunity is finally being accessed through technology. This coming year we expect continued growth as we focus on making AgeAssured available to more policyholders and expanding the carrier and partner network for NeverStop. We look forward to bringing more innovative products to the long-term care insurance market and the 90 million Americans over 55.”