Melbourne-based startup Kismet has received $8.2 million in seed funding from a round led by tech investors Prosus Ventures and Airtree Ventures.
WHAT IT DOES
Founded in 2023, Kismet has built a community engagement ecosystem that digitally connects care receivers, caregivers, health insurance, and healthcare providers in the in-home, disabled and aged segments worldwide.
Its web and mobile-based platform, Kismet Participant, organises healthcare providers – sorted by distance, rating, or price – into more than 30 categories that can match an individual’s insurance benefits or NDIS (National Disability Insurance Scheme) plan. It allows users to find the city, date, and time that suits them to schedule and book a service.
WHAT IT’S FOR
The startup intends to use its fresh funds to grow its team and expand its presence globally while also improving “worldwide health engagement.”
THE LARGER TREND
Kismet, whose team is also behind childcare and education tech startup Xplor, initially set out on a mission to address fraud and non-compliance within the disability and aged care sectors by improving access to services.
It was previously revealed by the Australian Criminal Intelligence Commission that as much as A$6 billion ($4 billion) in NDIS funds yearly might have been misused. Particularly in 2022, about A$1.4 billion ($900 million) was lost due to fraud and payment errors.
“While we have our eyes set on the NDIS first, we will be able to scale our tech globally to help millions worldwide access the care they need,” co-founder and CEO Mark Woodland said in a previous statement.
In just a year since its founding, it has been able to provide caregivers access to over 35,000 providers and support coordinators. To date, it has raised $10.8 million in funding.
ON THE RECORD
“Our first year has been transformative, evolving from an initial concept into a worldwide community. This injection of funds is more than just a financial milestone; it represents a significant advancement in our quest to democratise healthcare access globally,” Woodland said in a recent statement.
“Kismet is defining a completely new category in healthcare – positioned at the unique intersection of software, healthcare, e-commerce and payments. It is Australia’s first comprehensive digital ecosystem player,” claimed Sachin Bhanot, investment head at Prosus Ventures Southeast Asia and Australia/New Zealand.
