Papa Inc.

Papa Inc. provides innovative companion care services aimed at combating social isolation among older adults and underserved communities, connecting them with trained individuals known as Papa Pals. Founded in 2017 in Miami, US, Papa Inc. specializes in companion care services that connect older adults and underserved populations with trained individuals for support.

The company has completed five deals, with its most recent funding round occurring on October 13, 2021. In this Series D round, Papa Inc. raised USD 107. 50 mn led by SB Investment Advisers, with participation from investors including 776, Canaan Partners, Initialized Capital, TCG, and Tiger Global Management.

The total amount raised by the company is also USD 107. 50 mn, with a current valuation of USD 1,237. 96 mn. The founders of Papa Inc.

include Alfredo Vaamonde, Andrew Parker, Jake Rothstein, and Marc-Henry Rouvroy, while Oleg Shestakov serves as the CEO. Papa offers companion care services through a network of trained individuals, known as Papa Pals, who assist older adults and underserved populations. These services help address social isolation and provide support with everyday tasks, transportation, and companionship. Users can access these services through participating health plans, Medicaid, and Medicare Advantage programs across the United States.

The primary clientele consists of health plans and employers focused on enhancing the well-being of their members and employees. Papa generates revenue primarily through partnerships with health plans and employers, who utilize its companion care services as a benefit for their members and employees. Billing is based on service usage, allowing health plans to pay for services utilized by their members, promoting preventive care and reducing hospital visits. The pricing model is tailored to meet the specific needs of clients while ensuring comprehensive support for their members.

Following its Series D funding round in October 2021, where Papa Inc. raised USD 107. 50 mn to scale its solution, the company plans to expand its services nationally across health plans. This funding will help support the continued growth of its offerings and potentially lead to the introduction of new products designed to enhance member engagement and support.