BOSTON, May 29, 2019 /PRNewswire/ -- Pillo Health, a
Boston-based technology company
improving longevity and quality of life for patients managing their
health at home, today announced that is has secured $11 million in funding from leading venture
investors to complete its Series-A round. The capital will be used
to drive growth and innovation as Pillo Health builds out its
voice-enabled medication and care management platform for the
home.
Six in ten Americans live with at least one chronic condition, a
leading driver of healthcare costs across the country. Medication
non-adherence amounts up to $289
billion in wasted costs annually and leads to a higher
mortality rate in the United
States. Pillo Health offers partner organizations an
engaging in-home interface and HIPAA-compliant technology platform
to create customized voice-first health and wellness experiences;
empowering them to deliver better care into the home, enhancing
patient connections to their care teams, and aligning with the
growing trend of voice-enabled technologies in the healthcare
industry.
This round of funding was led by Stanley
Black & Decker's corporate venture capital arm with
significant participation from Samsung Ventures. Existing
investors, including BioAdvance, Hikma Ventures – the corporate
venture capital arm of Hikma Pharmaceuticals PLC (LSE:HIK) –
Hackensack Meridien Health System's Innovation Center Fund and
Civilization Ventures, also participated. Pillo Health will use the
funds to continue development of its HIPAA-compliant technology
platform and to develop additional voice-first experiences for
partners to deliver digital health solutions into the home. The
company is also currently hiring in its Boston, MA and Genoa, Italy offices.
"We look forward to the continued evolution of the Pillo Health
platform as we work with organizations addressing the management of
chronic conditions for patients at home," said Emanuele Musini, Co-founder and CEO of Pillo
Health. "Stanley Black & Decker
and Samsung have made a strong commitment to the health and
wellness of millions of Americans looking to remain independent
longer, with a focus on tailoring voice-first technologies for
their customers and revolutionizing the way healthcare is delivered
into the home."
Pillo Health and Stanley Black
& Decker are also jointly launching Pria by BLACK+DECKER in the
U.S. later this year. Pria is powered by the Pillo Health platform
and will be available for consumers to purchase in late summer
online, with additional distribution channels to follow.
Larry Harper, Vice President of
Stanley Ventures, stated that "Pillo and Pria represent an
important and growing strategic focus for our organization as we
continue to find ways to help seniors age in place at home and
enjoy their later years in familiar surroundings. The
partnership between Pillo Health and Stanley Black & Decker is strong, and
together we expect to have a large impact on the senior healthcare
market with more innovations on the horizon."
To learn more about Pillo Health, visit www.pillohealth.com.
About Pillo Health
Pillo Health is a mission-based
healthcare solutions provider that empowers organizations to
deliver better care into the home with an engaging,
HIPAA-compliant, voice-first technology platform dedicated to
improving health outcomes. Based in Boston, MA, Pillo Health, developer of both
Pillo and Pria™ by BLACK+DECKER, supports connections between
health organizations, patients and their care teams in order to
improve the longevity and quality of life for those managing their
health and independence at home. Learn more at
https://www.pillohealth.com/.
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SOURCE Pillo Health