Nationwide invests and partners
Nationwide’s VC team has invested in the Series A for Vesta Healthcare , the 24/7 technology and clinical services dedicated to supporting caregivers and connecting their insights to the rest of the care team. Additionally, the company has partnered with Kinetic , the maker of a smart wearable device and software platform designed to reduce workplace injuries.
Founded in 2018, Vesta Healthcare aims to improve health outcomes for seniors with high and rising health needs by connecting in-home caregiver insights, advanced analytics and 24/7 telehealth with the patient’s surrounding care team.
“Caregivers have a huge impact on a person’s ability to live comfortably in retirement. We are thrilled to support Vesta in connecting home caregivers to the clinical environment to create a meaningful impact on people’s daily health. We see our investment as embodying Nationwide’s mission of protecting people, businesses and futures with extraordinary care.” – Erik Ross, head of Nationwide’s venture capital team.
“People want to live at home as they age, but too often do not have the support they need to do so safely and comfortably. We support and engage high needs seniors and their caregivers by capturing daily insights and providing timely and personalized information, tools and clinical support. In doing so we provide peace of mind while preventing unnecessary emergency room visits, hospitalizations, and nursing home stays. We are delighted to have an experienced, passionate and dedicated investor like Nationwide investing in us who shares our vision of meaningfully impacting people’s daily health by creating engaging and supportive tools for caregivers.” – Randy Klein, CEO at Vesta Healthcare.
Kinetic, which was founded in 2014, helps workers move with better body mechanics by providing real-time feedback in the form of a vibration to the wearer, reinforcing safer body mechanics every time a risky motion occurs. The solution has been deployed to over 21,000 workers at over 150 locations, including six, Fortune 50 companies. Through the Nationwide partnership, they are expecting to “dramatically expand their reach.”
“Given the magnitude and cost of the problem, it was surprising to see the lack of technological solutions in the marketplace. It’s not just the injury rates and their accompanying expense that are costing employers. It’s everything that comes along with it – the lost workdays, the overtime, rehiring and retraining new employees. There’s also the human side of those injuries. My mother worked as a nurse when I was growing up and I remember her suffering multiple injuries while on the job and often coming home in pain. An injury at work affects every aspect of your life and your ability to provide for your family. We’re thankful to Nationwide for partnering with us as we work to reduce workplace injuries.” – Haytham Elhawary, CEO and co-founder of the Kinetic.
The Vesta Healthcare and Kinetic announcements are part of Nationwide’s commitment to invest more than $100 million of venture capital in customer-centric solutions.