What You Should Know:
– Jasper Health, an NYC-based cancer care coordination and experience platform raise $25M in Series A funding led by General Catalyst.
– The round, which was joined by new and existing investors Human Capital, W Health Ventures, Redesign Health, and 7wireVentures, brings Jasper’s total funding to approximately $31 million.
End-to-End Oncology Solution
1.8 million people are diagnosed with cancer every year. It’s an emotional and complicated process that no one is prepared for. Jasper Health is a care guidance, navigation, and experience platform that streamlines and simplifies every aspect of cancer care. The platform, which helps members organize cancer care needs, manage the experience, and understand options, is proven to drive high engagement, improve quality of life, and strengthen long-term health. The platform includes access to cancer care coaches and combines a member-focused digital experience with a personalized recommendation engine.
Costly Burden of Cancer Care
The increasing cost and complexity of cancer care are extremely burdensome to both individuals and businesses. Cancer costs the U.S. more than $200 billion overall each year, and an average individual cancer patient could face around $150,000 in treatment costs. Patients and caregivers often experience high levels of stress and anxiety, problems that have been worsened by the pandemic. For employers, while only 5 percent of employees will have a history of cancer, cancer treatment alone accounts for more than 12 percent of their healthcare costs. Despite these issues, employees, plan members, and individuals have not had access to a digital health solution that holistically improves quality of life, survivorship, productivity, and mental health, while reducing the total cost of care.
Expansion Plans & Milestones
To date, nearly 12,000 cancer patients and their caregivers have used Jasper since the service launched last year. The Series A funding round will enable Jasper to expand its platform to a wide variety of healthcare organizations, including payers, self-insured employers, and health systems that provide cancer care. In addition, Jasper plans to grow its sales and operations teams, continue improving its platform, and invest in further research.
The company recently partnered with Employer Direct Healthcare (EDH) to make the digital platform available to EDH’s client base of more than 2 million lives. Approximately 70 percent of Jasper members report less stress and anxiety; almost 80 percent report better medication adherence; and nearly all found it easier to track appointments. As part of today’s fundraise, Dr. Jennifer Schneider and Candace Richardson will join Lee Shapiro, Alyssa Jaffee, and Kira Wampler as part of Jasper’s board of directors.