Israeli AI telehealth startup, TytoCare, secured a $49 million Series E funding round, led by Insight Partners, with participation from new investors, including prominent California-based health system MemorialCare, Healthcare of Ontario Pension Plan (HOOPP) and Clal.
TytoCare's Home Smart Clinic, the only market offering capable of replicating an in-office doctor visit at home, utilizes TytoCare’s FDA-approved handheld remote examination device, Tyto Insights™ — an AI-powered smart diagnosis support system — and Tyto Engagement Labs™. The system facilitates high-quality, accessible virtual care at home, enabling health plans and providers to deliver on ROI expectations and foster improved health outcomes.
TytoCare's new funding will enable it to expand the offering breadth and longitudinal care capabilities of their Home Smart Clinic and develop next generation AI capabilities for diagnostic support and remote exam assistance.
TytoCare, with its FDA clearance of AI-powered Tyto Insights™ for Wheeze Detection, is launching a new asthma module, broadening the Home Smart Clinic's capabilities for patients with asthma. The module includes routine self-management tools for asthmatic family members with reminders, personalized diaries, and flare-up support using Tyto Insights™ for Wheeze Detection. The module aligns with the Home Smart Clinic's capabilities to reduce costs and enhance quality care.
Recent research published in the Journal of Health Economics' July 2023 edition indicated TytoCare’s Home Smart Clinic's potential to impact the total cost of care. The study revealed that TytoCare’s Home Smart Clinic reduced care costs by 7%, ED visits by 24.1%, urgent care visits by 11.3%, and increased primary care utilization by 12%.
TytoCare was founded by Dedi Gilad and Ofer Tzadik in 2012. The new funding round brings the startup's total funding to $205 million.
