WASHINGTON (dpa-AFX) - Jaan Health, the company behind the AI-powered chronic care platform Phamily, has raised over $25 million to scale its virtual care solution, with Sunil Abraham, Managing Director at KeyBanc Capital Markets - a division of KeyCorp (KEY), advising on the transaction.
The funding round includes $15 million in non-dilutive growth capital from Level Structured Capital, part of Level Equity, which manages over $4.5 billion in assets focused on high-growth tech-enabled companies.
Founder and CEO Nabeel Kaukab emphasized the need to manage chronic conditions beyond occasional doctor visits, stating the new funds will help extend Phamily's reach across the U.S. The platform, used by more than 150 healthcare organizations, enhances patient outcomes and provider profitability while lowering payer costs.
Phamily is designed to deliver proactive, population-scale care through AI and patient engagement tools. With a history of serving hundreds of thousands of patients across 250+ chronic conditions, Phamily is helping reshape care delivery amid rising healthcare costs and labor shortages. The fresh capital will fuel expansion into new markets, deeper integration with health systems, and team growth.
Level Structured Capital partner Barry Osherow noted Jaan Health's impressive growth without prior institutional funding, citing its proprietary data, operational success, and clear market differentiation in the crowded health tech AI space.
Java Medical Group CEO Bappa Mukherji praised Phamily for making care management more efficient and accessible, especially for hospitals facing economic pressure, and welcomed the funding that supports Jaan Health's continued innovation and impact.
KEY currently trades at $16.78 or 1.76% higher on the NYSE.
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