DUOS, a technology-enabled service provider, has raised $130 million to expand its platform to more health plans across the country, it announced on Thursday.
The Minneapolis-based company supports patients and their caregivers by addressing health-related social needs and connecting members to care. Once contracted with a health plan, DUOS reaches out to eligible members via text, email or mail to inform them of the benefit and invite them to enroll. Members can then share their top social and care-related needs — such as access to food or transportation — and DUOS connects them with relevant resources and providers based on their coverage, location and individual circumstances.
The $130 million in funding was led by FTV Capital and included participation from Forerunner Ventures. In total, the company has raised $163 million.
“Most health tech promises to improve engagement, but DUOS actually proves it, with real completion rates and measurable impact,” said Alex Mason, partner at FTV Capital, in a statement. “At FTV, we’ve spent decades investing in healthcare innovation, and DUOS stands out for leveraging AI to build the critical infrastructure health plans need to operate efficiently and improve member outcomes at scale. We’re thrilled to support the company in building on its impressive momentum and driving the platform’s continued expansion.”
With the funding, the company will primarily invest in advancing its platform and improving its AI capabilities, according to Karl Ulfers, CEO and co-founder of DUOS.
“For example, DUOS will continue to expand its agentic use of AI to automate the final mile of government programs, benefits navigation, and appointments for preventative care and develop AI/ML-driven models that help identify patients in need of income-based programs, clinical care coordination, and improved access to quality of care,” he said in an email.
In addition, the company is using the funding to expand to more health plans, including Medicare Advantage, Medicaid and Affordable Care Act marketplace plans.
Alongside the investment, DUOS announced that Jenn Kerfoot has been promoted to president of market operations to “continue advancing commercial success and positioning DUOS as the operating layer to drive both member engagement and measurable plan performance leveraging AI,” the press release stated. Kerfoot was previously the chief strategy and growth officer.
DUOS’ announcement comes as many government plans face significant budget cuts. The company is poised to support members during these cuts, Ulfers previously told MedCity News.
“In every sector of Medicare Advantage, prescription drug plans and Medicaid, all those plans are going to change over the next couple of years, and that’s going to create an incredible amount of confusion,” he said. “We want to be that voice of simplicity and access for the older adults of this country to understand what’s changing and how they can make sure they continue to get incredible quality of care.”
Companies that offer similar services to DUOS include mPulse and Cleo.
Photo: StockFinland, Getty Images
