Pal closes pre-seed round to redefine palliative care
Fresh funding from Plug and Play Ventures, Rabobank, and angel investors will allow Pal to launch its digital palliative care solution.
Amsterdam, 20th September 2023 – Pal, the digital palliative care company, today announces the successful close of a €300k pre-seed round to improve access to at-home palliative care for people affected by a serious illness. The latest funding builds on a previous incubation round raised from Antler, the global early-stage VC. The new funding accelerates the launch of Pal’s digital palliative care solution, tackling long-standing healthcare challenges to improve access to affordable and timely palliative care.
This investment round drew in the well-known Silicon Valley-based investor Plug and Play Ventures, and commenting on the announcement, Nicholas Cointepas from Plug and Play says “We are proud to invest in Pal and to contribute to their important mission. Palliative care is an area of healthcare that can be difficult and scary, so Pal’s solution to help ease the burden on family, friends, and other caregivers of palliative patients is a welcome one. Getting to know Nara, Azi, and the rest of the Pal team, we were impressed with their approach, attitude, and drive, but most of all with their commitment to making Pal a real resource for those going through a difficult time.”
Plug and Play Ventures was joined by several angel investors with deep industry knowledge, and was further backed by Rabobank through the infusion of the Rabo Innovation Loan. Cherif Miloudi from Rabobank says “Digitalization in healthcare is essential, and Pal empowers every family to access and benefit from palliative care effortlessly. Rabobank takes immense pride in supporting Pal with our Rabobank Innovation Loan, designed to support innovative business propositions like Pal’s, and looks forward to supporting their growth.”
Every year, close to 60 million individuals are reliant on palliative care to ensure their comfort and quality of life, but currently, only 14% of those who need it have access to it. Pal tackles the pressing social issue of untimely and insufficient palliative care for people with life-limiting illnesses. This challenge is intensified by aging populations, increasing incidence rates of serious illnesses such as cancer, and growing healthcare staff shortages. Despite the WHO recognizing palliative care as a basic health right, healthcare systems worldwide remain unable to provide adequate access, placing undue stress on both patients and their families. As a result, family members have to take on caregiving responsibilities and face the inevitable challenges of assuming such a critical role without proper training, necessary resources, sufficient knowledge, or digital support.
Pal, the digital platform for at-home palliative care, helps patients, family members, and healthcare providers by directly addressing the core challenges of everyday palliative caregiving, such as daily care provision, symptom management, and care team collaboration. By optimizing existing resources, Pal helps enhance care quality, improve quality of life, and boost care provider efficiency.
“I have experienced first-hand how challenging it can be to become a caregiver for a loved one overnight, without getting proper support, tools, or guidance. Pal is the exact solution I wish I had myself when I was caring for my mom”, shares Nara Moripen, Pal’s co-founder and CEO. “This funding fuels our upcoming product launch and enables us to make palliative care more efficient, affordable, and accessible for all.”
Founded in early 2022 by tech operator Azi Doost (COO) and digital health strategist and former caregiver Nara Moripen (CEO), Pal was created to redefine palliative care and improve access to proper at-home support for anyone affected by a life-limiting illness. Pal makes it easier for patients and families to benefit from palliative care earlier in the disease trajectory. Timely interventions made possible with Pal reduce complications and hospitalizations, translating into significant cost savings for healthcare systems.
Written by Pal