Waterlily raises $7 million
Waterlily, a startup using AI to predict the long-term care needs of individuals “decades before they happen,” announced the closing of a $7 million Seed round led by Brewer Lane Ventures, with participation from Genworth, Nationwide, Edward Jones, Tim Kneeland (former CEO of GE Insurance & Transamerica LTC), and others. Waterlily previously raised a $2.2 million in Pre-Seed funding.
Founded in 2021, the San Francisco-based startup claims to analyze over 500 million data points to build a comprehensive care plan while presenting the ROI of purchasing an insurance policy for these needs. The platform provides an overall personalized care plan – analyzed against personal financial data, insurance coverage, and health care trends to protect family savings and make sure individuals have what they need to afford the cost of long-term care.
Since launching in March 2024, Waterlily has deployed programs with Prudential, two additional top 40 carriers and one of the nation’s largest IMOs. The platform can be used by financial advisors, insurance carriers, insurance distributors, and independent insurance agents to help their clients build better plans for their long-term care.
“Traditional financial planning tools have just not kept pace with the long-term care complexity and uncertainty out there. Waterlily is addressing one of the single most critical gaps in financial security and is well-positioned to help millions of families needing better tools to manage the financial challenges of aging.” – John Kim, Founding Partner at Brewer Lane Ventures.
“The system for financial planning today for long-term care is reactive, not proactive. Our application of AI makes the whole process seamless and more intuitive for families to know what they need to do today to secure their financial future and care needs tomorrow. This significant investment represents a belief in Waterlily’s ability to improve the financial well-being of millions of families.” – Lily Vittayarukskul, Waterlily CEO and Co-Founder.
