New York-based Lizzy Care, which provides comprehensive dementia care, has raised $2.6 million in seed funding led by Indianapolis-based Boomerang Ventures, which focuses on investing in healthcare startups.
The healthcare firm was co-founded by a duo with firsthand experience caring for patients diagnosed with dementia — Sarah Gorenstein, a professional geriatric care manager, and Ollie Fielding, who helped care for his grandmother. Gorenstein is a certified Dementia Care Partner with experience managing bespoke care ecosystems for families both in the United States and the United Kingdom.
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The company is led by CEO Dr. Marc Rothman, a physician executive with experience in home- and community-based services for older adults. Dr. Russell Swerdlow and Dr. Richard Isaacson, who conduct research on dementia and Alzheimer’s, serve as advisors.
“Dementia care today is fragmented and reactive, leaving families struggling to navigate complex care decisions,” said Rothman, who was most recently the chief medical officer of Signify Health, leading a nationwide practice of over 10,000 in-home providers. “At Lizzy Care, we’re addressing this challenge head-on with an intuitive platform that empowers caregivers, enhances communication, and ensures families experience the joy and comfort they deserve, by focusing on enhancing the quality of life for their loved ones.”
Lizzy Care expects to use the funding to expand into New York, the Tri-State area, North Florida, Kentucky and Indiana.
“The demand for dementia care is skyrocketing as the population ages and conditions like Alzheimer’s become more common,” said Oscar Moralez, founder and managing partner of Boomerang Ventures. “In 2023, the global dementia treatment market was valued at about $17 billion and is expected to keep growing at nearly 8% a year through 2030.”
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Lizzy Care runs an app that uses predictive analytics to anticipate patient needs and helps care-givers obtain real-time updates on patient status and care coordination.
“As a company dedicated to connected health innovation, we recognize the urgent need for better dementia care solutions,” said Moralez. “Lizzy Care is at the forefront of this transformation, delivering an AI-powered, personalized approach that aligns perfectly with our focuses on aging, chronic care, and at-home care.”
Moralez also expressed confidence in Lizzy Care’s seasoned team, led by Rothman. “His extensive expertise in geriatric medicine, home-based care, and healthcare business strategy positions them to transform at-home dementia and memory care,” he said.
