Pillo closes $11m funding round for voice-controlled medication
June 6, 2019
Pillo Health, a Boston, USA, based technology company helping patients manage their health at home, has secured $11m in funding from venture investors to complete its series-A round. Backers include Samsung and Stanley Black & Decker.
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 driver of healthcare costs across the country. Medication non-adherence amounts up to $289bn in wasted costs annually and leads to a higher mortality rate in the USA.
Pillo Health offers partner organisations an in-home interface and HIPAA-compliant technology platform to create customised 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 participation from Samsung Ventures. Existing investors, including BioAdvance, Hikma Ventures – the corporate venture capital arm of Hikma Pharmaceuticals – 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 into the home. The company is also hiring in its Boston and Genoa, Italy, offices.
"We look forward to the continued evolution of the Pillo Health platform as we work with organisations 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 revolutionising the way healthcare is delivered into the home."
Pillo Health and Stanley Black & Decker are also jointly launching Pria by Black & Decker in the USA later this year. Pria is based on the Pillo Health platform and will be available for consumers to purchase in late summer online, with additional distribution channels to follow.
“Pillo and Pria represent an important and growing strategic focus for our organisation as we continue to find ways to help seniors age in place at home and enjoy their later years in familiar surroundings,” said Larry Harper, vice president of Stanley Ventures. “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."
Pillo Health is a mission-based healthcare provider that helps organisations deliver better care into the home with an engaging, HIPAA-compliant, voice-first technology platform dedicated to improving health outcomes.