Jasper Health Raises $25 Million in Series A Funding to Increase Access to Comprehensive Cancer Experience and Care Navigation Platform
NEW YORK, Feb. 1, 2022 /PRNewswire/ — Jasper Health, a first-of-its-kind cancer care navigation and experience platform, today announced a $25 million Series A funding round led by General Catalyst. The round, which was joined by new and existing investors Human Capital, W Health Ventures, Redesign Health, and 7wireVentures, brings Jasper Health’s total funding to approximately $31 million.
Jasper Health is a care guidance, navigation, and experience platform that streamlines and simplifies every aspect of cancer care. The platform, which helps members organize cancer care needs, manage the experience, and understand options, is proven to drive high engagement, improve quality of life, and strengthen long-term health. The platform includes access to cancer care coaches and combines a member-focused digital experience with a personalized, intelligent recommendation engine.
“Jasper Health is the only end-to-end oncology solution available to both consumers and large enterprises, uniquely positioning the company to improve health outcomes and reduce the costs associated with cancer care for individuals and entire populations,” said Jennifer Schneider, M.D., Executive in Residence (XIR) at General Catalyst, Former President of Livongo, and incoming member of Jasper Health’s Board of Directors. “Facing a cancer diagnosis is one of the scariest and most overwhelming things a person can experience, but having a proven digital health partner like Jasper will not only transform lives, it also will provide hope when it’s most needed.”
Nearly 12,000 cancer patients and their caregivers have used Jasper since the service launched last year. The Series A financing will allow Jasper Health to expand its platform to a wide variety of healthcare organizations, including payers, self-insured employers, and health systems that provide cancer care. The company recently partnered with Employer Direct Healthcare (EDH) to make the digital platform available to EDH’s client base of more than 2 million lives.
“No one experiencing cancer should be crushed by the weight of managing their own treatment, but unfortunately, that’s the experience for many people. Jasper Health is on a mission to change that,” said Adam Pellegrini, co-founder and CEO of Jasper Health. “Our team is incredibly proud of the business momentum we’ve experienced over the last year, and we are driven by the extraordinary stories we hear from our members to continue growing. We’ve built the platform. We’ve demonstrated the outcomes. Now it’s time to bring Jasper to millions more through partnerships with large enterprises.”
The increasing cost and complexity of cancer care are extremely burdensome to both individuals and businesses. Cancer costs the U.S. more than $200 billion overall each year, and an average individual cancer patient could face around $150,000 in treatment costs. Patients and caregivers often experience high levels of stress and anxiety, problems that have been worsened by the pandemic. For employers, while only 5 percent of employees will have a history of cancer, cancer treatment alone accounts for more than 12 percent of their healthcare costs. Despite these issues, employees, plan members, and individuals have not had access to a digital health solution that holistically improves quality of life, survivorship, productivity, and mental health, while reducing the total cost of care.
Jasper Health is not only filling the market gap but has proven to be highly engaging and impactful. Approximately 70 percent of Jasper members report less stress and anxiety; almost 80 percent report better medication adherence; and nearly all found it easier to track appointments.
Moving forward, Jasper Health will use the new financing to grow its sales and operations teams, continue improving its platform, and invest in further research. As part of today’s fundraise, Dr. Jennifer Schneider and Candace Richardson will join Lee Shapiro, Alyssa Jaffee, and Kira Wampler as part of Jasper Health’s board of directors.
About Jasper Health
Jasper Health is a digital guiding, navigation and engagement experience that improves the lives of people living with cancer, those at high risk of cancer, and their caregivers. It’s all-in-one oncology platform provides psychosocial support interventions while enabling connected care with the broader healthcare system. Our team includes seasoned leaders with decades of experience in digital health, clinical care, data science and consumer engagement. Founded at Redesign Health, a company that powers innovation in healthcare, we believe that powerful technology and passionate people can relieve some of the stress of organizing care. To learn more, visit https://www.hellojasper.com/solutions.
Contact:
Kati Chevaux
kati.chevaux@hellojasper.com
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SOURCE Jasper Health
