There is growing research that indicates social determinants have a large part in over 80% of health outcomes. With loneliness and social isolation at stunning levels thanks to the pandemic, family on-demand service provider Papa closed a Series B funding round worth $18 million led by Comcast Ventures, so they can expand their services to a greater number of older adults.
Their services include finding companionship for them, as well as providing assistance with everyday tasks. Since their platform launch in 2018, Papa has grown to 17 states and expects to reach all 50 states by January 2021.
“We created Papa with the singular goal of supporting older adults and their families throughout the aging journey,” said Andrew Parker, CEO and Founder of Papa. “The COVID-19 pandemic has unfortunately only intensified circumstances leading to loneliness and isolation, and we’re honored to be able to offer solutions to help families during this difficult time.”
Their system, called Papa Pals, provides valuable companionship, while also assisting with everyday tasks like light household chores, grocery delivery, transportation, doctors’ appointments, and more. COVID helped accelerate the growth of Papa’s offerings, achieving a 20% month over month growth since the company’s inception. Papa expects their year over year membership growth to increase five times what it currently is, as well.
50% of adults consider themselves lonely, and social isolation increases death risks by 29% according to research from Shainna Ali and Julianna Holt-Lunstad. With this in mind, Papa plans to use their funding to accelerate their growth, expand their team and platform, and launch into new states. Their goal is to combat social isolation in older adults and families during a very critical time brought about by COVID-19.
Read about a high growth Wellness company helping Individuals Improve their Health
