Ounce, a startup that goals to “bridge the hole” between well being and housing, introduced Thursday that it has secured $5.2 million in seed funding. As well as, the corporate introduced its first set of companions: AmeriHealth Caritas D.C. and Nationwide Housing Belief.
Washington, D.C.-based Ounce works with payers and inexpensive housing properties. It has a group of group well being employees who work inside inexpensive housing properties to assist their residents. The employees consider residents for gaps in care and supply onsite well being clinics and screenings. In addition they assist residents enroll in public advantages like Medicaid or SNAP. As well as, the employees will direct them to healthcare and social providers, together with scheduling main care appointments and serving to them apply for rental assist. The Amerihealth Caritas D.C. and Nationwide Housing Belief partnerships carry these providers to greater than 2,000 residents of inexpensive housing throughout 9 properties in D.C.
“The basic drawback [is] entry and engagement for low-income communities. … Once I take into consideration what drove me to construct Ounce and tackle these issues, I’ve a life mission motto: to create new issues that make society extra truthful,” mentioned Rachel Munsie, co-founder and CEO of Ounce, in an interview. “I can’t actually consider something that’s much less truthful than having this damaged service supply system for 90-plus million individuals nationwide and 300,000 people who find themselves on Medicaid in D.C.”
Ounce’s $5.2 million in seed funding was co-led by Meridian Road Capital and Flare Capital and included participation from Chelsea Clinton’s Metrodora Ventures, Wilshire Lane Capital, Hilton CEO Chris Nassetta and Unite Us Co-founder Taylor Justice.
Meridian Road Capital selected to put money into Ounce due to its dedication in addressing social determinants of well being, mentioned Scott Legislation, normal companion of Meridian Road Capital.
“Ounce represents a paradigm shift in how we tackle the interconnected challenges of well being and housing,” Legislation mentioned in a press release. “Recognizing the profound impression of social drivers of well being on particular person well-being, Ounce’s mannequin brilliantly converges healthcare and housing options. We imagine that by investing in Ounce, we’re backing a pioneering strategy that may redefine well being for underserved communities like these dwelling in inexpensive housing.”
With the financing, Ounce plans to develop its attain in Washington D.C. Sooner or later, it additionally goals to work in different metropolitan areas, Munsie mentioned.
“We’re serious about and taking a look at cities that may make sense for future rollouts. … I feel that giant metropolitan areas — whether or not that’s Boston, Philadelphia, New York and even West Coast markets like California which are doing actually modern issues from a Medicaid funding perspective and coverage perspective — have been extremely attention-grabbing to us,” she mentioned.
The funding comes at a time when about 27,000 low-income households in D.C. are going through challenges with housing. The return to Medicaid redeterminations is just exacerbating the difficulty. Ounce finally goals to assist this inhabitants and scale its enterprise to succeed in extra individuals, Munsie mentioned.
Photograph credit score: Lolon, Getty Photos
