TytoCare announced that it has raised $49 million in additional growth funding. This new investment brings the company’s total funding to $205 million to date. The round was led by global software investor Insight Partners, which also led TytoCare’s previous round. Notably, the round includes new investors, including MemorialCare — a leading California health system — as well as two major pension funds, Healthcare of Ontario Pension Plan (HOOPP) and Clal.
TytoCare’s Home Smart Clinic combines the company's FDA-cleared handheld remote examination device, the AI-backed Tyto Insights smart diagnosis support, and the Tyto Engagement Labs to provide accessible virtual care in the home and enable health plans and providers to deliver on expected ROI and drive improved health outcomes.
TytoCare will use the funding to further develop novel uses of AI in diagnostic support and remote exam assistance. In particular, TytoCare will advance the Home Smart Clinic’s longitudinal care capabilities to help families manage conditions that need more than episodic, acute care visits.
For its first longitudinal care module, TytoCare builds on this year’s FDA clearance of the AI-powered Tyto Insights for Wheeze Detection, by launching a new asthma module that broadens the Home Smart Clinic’s capabilities to address the needs of asthma patients in addition to the episodic support it provides for the whole family. This module includes routine self-management tools for family members with asthma to stay on top of their condition, with questionnaires, reminders, and a personalized diary, as well as flare-up support leveraging Tyto Insights for Wheeze Detection and urgent doctor visits with remote exams. With asthma leading to 1.7 million emergency department (ED) visits, 13.8 million missed school days, and costing Americans more than $50 billion per year, this first longitudinal module ties into the Home Smart Clinic’s ability to reduce costs and improve quality care.
