TELUS Global Ventures invests in Homethrive and Rhino Health
These investments scale innovations in elderly support management, secure healthcare data analysis, and advanced diagnostic technologies, leading to a more accessible, efficient and patient-centric care ecosystem
VANCOUVER, BC, Oct. 31, 2024 /CNW/ - TELUS Global Ventures is participating in two new funding rounds with equity investments in Homethrive and Rhino Health. Illinois-based Homethrive addresses the growing need for elderly support by combining human expertise with digital solutions, making caregiving more manageable for families. Headquartered in Boston, Rhino Health transforms healthcare AI, bridging medical data sources and the researchers that need to analyze health data to speed up advancements in healthcare. These new investments bring the number of companies supported by the TELUS Global Ventures to more than 150.
"As a global leader in digital innovation and healthcare solutions, TELUS' readiness and capability to swiftly deploy capital to help scale health tech innovations will contribute to promoting adoption of transformative care solutions," said Terry Doyle, Managing Partner, TELUS Global Ventures. "Investing in Homethrive and Rhino Health allows TELUS Global Ventures to play an active role in addressing the caregiving crisis, improving data-driven healthcare decisions and accelerating proactive care approaches. TELUS Health already possesses technologies and services that enhance lives through preventive health solutions, and we are eager to collaborate with both companies to foster a more accessible, efficient, and patient-centered healthcare ecosystem by leveraging the commercial connectivity of our investments."
Homethrive: helping caregivers with resources they need
Homethrive leverages technology to support family caregivers and their loved ones, addressing the growing challenges of elder care in an aging population. TELUS Global Ventures' investment will help the company scale its platform which offers a range of services, including care coordination, healthcare navigation and emotional support for both caregivers and care recipients. The caregiving crisis affects millions of families, with many struggling to balance work, personal life and caregiving responsibilities, and professional care management services are often expensive and out of reach for many families. Homethrive's goal is not only to reduce caregiver stress and improve care quality, but also to make expert support more accessible and affordable, including by partnering with employers to provide this as an employee benefit.
"The support of TELUS Global Ventures is an exciting opportunity for us to expand our reach and deepen the impact we have on caregivers and their loved ones. Their expertise in healthcare will help us to provide even more comprehensive, meaningful support to those who rely on us during some of life's most challenging moments," said David Greenberg, Co-CEO of Homethrive.
Rhino Health: Streamlining end-to-end healthcare research and AI development
The world produces vast amounts of healthcare data annually, but much of it remains siloed and underutilized due to privacy concerns and regulatory restrictions. TELUS Global Ventures will enable Rhino Health' to continue designing next-generation solutions by leveraging federated learning and edge computing – technologies that both enable secure, decentralized data processing and AI model training. Rhino Health has enabled its partners to build networks of health systems, life sciences companies, and public sector organizations allowing for data collaborations across multiple continents, without compromising patient privacy or IP confidentiality.
"We are grateful to the TELUS Global Ventures team for their support and partnership as we continue to build products across the data collaboration value chain for healthcare and beyond," said Rhino co-founder & CEO, Dr. Ittai Dayan. "With this new investment, we will continue to act as a bridge between medical data sources and researchers by facilitating rapid setup of computational pipelines across various data sources which accelerates use cases in healthcare, life sciences, and other regulated industries with constraints on processing sensitive data."
About TELUS Global Ventures
At TELUS Global Ventures we leverage deep insights from our global businesses to provide our investment partners with opportunities for tangible growth and traction. To date, TELUS Global Ventures has funded more than 150 companies that are poised for significant growth and market transformation, spanning across 10 countries and five continents.
Media Contact
François Marchand
TELUS Media Relations
francois.marchand@telus.com
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SOURCE TELUS Global Ventures
