Austin Startup Well Beyond Care Wins Grand Prize In Rice Alliance Pitch Event
When Jeffrey Fry realized that his mother’s care giver left her for a $.25 cent per hour pay increase, he thought that was ridiculous and something needed to be done. Often times patients that require in home care givers, form relationships with these people, that can obviously be so easily changed.
That’s why Fry went to work creating an online, algorithmic based platform that matches families to caregivers, thus eliminating the agency. Patients and families traditionally turn to agencies that manage these caregivers. The agency needs to make money, as does the provider. That’s how families end up with less than adequate caregivers, or caregivers willing to leave a patients bedside for a couple more cents per hour.
The caregiver isn’t to blame, and really the agency isn’t either. Something needed to be done about the way these caregivers are found and contracted.
As the baby boomers start aging up and in need of care, their millennial children are used to doing everything online or on a mobile app. Well Beyond Care provides that platform. These adult aged children are used to buying houses with Zillow and cars with Vroom. Why not use Well Beyond Care for their parents caregiver needs.
Fry and his startup won the Rice Alliance Pitch Event at the Alamo Draft House in Austin last Wednesday evening.
Rice Alliance and CTAN picked ten Texas-based seed stage companies out of 67 who applied to present at the event. Jeffrey Fry, CEO and Co-Founder, came up with the idea for Well Beyond Care after caring for his ailing mom, who lived in Alexandria, Virginia for seven years.
“First it is an honor to have been chosen to present with so many fine Austin startups,” Fry stated. “And to be selected the overall winner just gives testament to the pressing need to resolved the “silver tsunami” of geriatric care in the U.S.,” Mr. Fry added.
“Being an engineer, I wanted to create something better than what’s out there. Together with my co-founder, Lauren Tarrant, RN, we created an innovative online platform that allows families to hire their own caregivers and resolve most of the pervasive problems in private duty care. This platform not only save families $10K to $30K in caregiver cost but families now can hire a caregiver of their choosing, that are matched to their needs, and are dependable, reliable, affordable, and available,” Mr. Fry concluded.
Lauren Tarrant added, “today, more than seven and half million people are getting in home care. The market is $120 billion for in home care, but by the end of the decade it’s going to be $180 billion. And 95 percent of all the people who get in-home or private duty care use an agency. They are first off, extremely expensive and we wanted to now allow a more affordable choice for families. In addition, the two biggest problems with those agencies are truancy and turnover of workers. So, you get unreliable care. Winning this award gets us one step closer to realizing the dream of affordable in home care.”
Well Beyond Care, founded in 2014, has raised $310,000 in seed stage capital so far. The company is raising additional funds to build new features into its it platform including a mobile app and more administrative reporting. Project Balance has been contracted to develop this applications and the company is looking to launch their platform in May of 2017.
The other finalists in the Austin Rice Alliance pitch competition included:
Anderson Remplex: This Flower Mound-based startup created a product called ProROX to eliminate pathogens from food products for commercial kitchens and consumers.
HipPocket: This Dallas-based startup created a better search and marketing product for real estate listings using machine learning, data and analytics. The company says it transforms how buyer and sales agents connect and consumers buy homes.
Renovate Simply: This Austin-based startup created a home renovation platform for banks, credit unions and other lending institutions to automate the home renovation process and provide increased transparency and reduce risk.
Cingo: This Austin-based startup provides the technology for companies to embed real time in app customer support in their mobile apps.
Homads: This Austin-based startup created a marketplace for month to month rentals of 30 or more days.
Sandbox Commerce: This Austin-based startup created a simply to use system that allows retailers to create a mobile app easily without any knowledge of coding.
SigTrak – This Austin-based startup created technology for data extraction and analytics for microchip design.
photo: Silicon Hills News