Kiddo Raises $16M for Wearable Targeting Chronic Conditions in Children
Kiddo Secures $16 Million in Series A Funding for Chronic Pediatric Care
Good Parents Inc., operating as Kiddo, has announced the completion of a $16 million Series A funding round on Tuesday. The company is dedicated to improving the management of chronic health conditions in children through a unique combination of wearable technology, personalized parental guidance, and telehealth services.
Development and Focus of Kiddo
For several years, Kiddo has been engaged in the development of a combined wearable device and software solution focused on children’s health. Founded in 2016 by Jaganath “CJ” Swamy, the initial concept centered around a fun and engaging health and wellness device for kids, coupled with parental monitoring capabilities.
However, the company has since strategically shifted its focus to specifically address the challenges of managing chronic health conditions in pediatric patients.
Personal Inspiration Behind Kiddo’s Mission
Swamy shares that this change in direction was partly inspired by a personal experience. While transitioning from an early-stage investor role, one of his sons began experiencing asthma-like breathing difficulties.
“Managing and tracking his condition daily, and effectively communicating this information to his physician for appropriate treatment adjustments, proved to be a significant challenge,” Swamy explained to TechCrunch. “This struggle prompted me to consider how we could enhance the experience for parents navigating similar situations with children facing chronic illnesses.”
Kiddo’s Care Coordination Platform
This led to the creation of Kiddo, a care coordination platform designed for children between the ages of two and fifteen. The platform utilizes a proprietary wristband, resembling a fitness tracker, worn by the child.
Parents utilize a companion app to collect data transmitted from the wearable, which is then securely relayed to the child’s healthcare provider. The system is tailored for monitoring conditions such as asthma, heart disease, autism, and diabetes.
Funding Details and Investors
This funding round was spearheaded by Vive Collective, backed by Clearlake-Capital, bringing Kiddo’s total funding to $25 million. Additional investors include Wavemaker 360, Wavemaker Asia Pacific, Mojo Partners, Techstars, and associated investment funds.
Remote Patient Monitoring Capabilities
Kiddo broadly aligns with the growing trend of “remote patient monitoring,” aiming to deliver essential care typically received in a clinical setting directly to the patient’s home.
The wearable device continuously transmits vital signs, including heart rate, temperature, SpO2 (blood oxygen saturation), motion data, and perspiration levels. The app integrates this data with external factors like local air quality, weather patterns, and humidity – particularly crucial for asthma management.
Personalized Insights and Alerts
Over time, Kiddo establishes a unique profile for each child based on these combined data points. If a child’s metrics deviate significantly from their established baseline, parents receive immediate notifications, accompanied by suggested strategies for managing the situation at home.
For instance, if the system detects early indicators of an asthma attack, parents might receive an alert indicating irregular breathing and heart rates, along with recommendations such as rest, hydration, or utilizing prescribed medication like albuterol, as advised by their physician.
The app also facilitates easy scheduling of doctor’s appointments if symptoms persist.
Growing Acceptance of Remote Patient Monitoring
While the concept of remote patient monitoring isn’t novel, recent years have witnessed a surge in supporting research. A 2020 systematic review published in “Telemedicine and e-Health” revealed that 43% of 272 reviewed articles were published between 2015 and 2018.
Notably, approximately 77% of these studies demonstrated a positive impact of remote patient monitoring on patient care outcomes.
Clinical Validation and Ongoing Research
Kiddo is actively investing in clinical validation of its platform. While specific data remains confidential, Swamy confirms that research conducted by academic partners and private entities has “validated many aspects of the Kiddo platform.”
A new study is currently underway at the Thompson Autism Center at Children’s Hospital of Orange County.
Early Results and Data
Internal data suggests that the platform improves treatment adherence by over 50% and has resulted in a “2x reduction” in unnecessary emergency room visits. However, this data is currently unpublished.
Regulatory Status and Partnerships
Kiddo is currently pursuing Class I FDA certification, reserved for low-risk medical devices. The company has already established partnerships with seven health systems, benefits providers, and foundations, including UHC Optum, PC Health, and several children’s hospitals.
B2B Focus and Future Expansion
Swamy emphasizes that Kiddo operates exclusively as a B2B provider, focusing on collaborations with hospitals and health systems rather than direct-to-consumer sales.
The company is currently working with 70,000 children and plans to expand its reach to approximately 200,000 in the coming years. This growth is fueled by increasing investor interest and favorable regulatory trends.
Evolving Reimbursement Landscape
Changes in regulatory policies are also supporting the adoption of remote patient monitoring. The expansion of CPT codes (reimbursement codes) for remote monitoring technologies, beginning in 2018, has simplified the billing process for providers.
The Centers for Medicare and Medicaid Services (CMS) further expanded these codes in 2022, allowing for reimbursement of a wider range of remote patient monitoring services.
Swamy notes that Kiddo’s technology is currently reimbursable through these CPT codes, providing a financial benefit to partner health systems.
Future Goals and Development
With this new funding, Kiddo intends to expand its sales and product development teams. The company also aims to broaden the range of chronic conditions it can address, with a particular focus on pediatric oncology and orthopedic services within the next two years.