DUOS Secures $130M Investment to Expand AI-Driven Benefits Platform for Seniors

DUOS, a digital health company specializing in senior care, has announced a significant $130 million strategic growth equity investment. This funding injection, led by FTV Capital with participation from Forerunner Ventures, marks a pivotal moment for the company as it seeks to enhance its artificial intelligence capabilities and scale its operations across Medicare Advantage, Medicaid, and ACA marketplace plans nationwide.

AI-Powered Benefits Navigation

Founded in 2020, DUOS has positioned itself at the forefront of leveraging AI to address the complex healthcare needs of America's aging population. The company's platform serves as a guide for seniors, helping them navigate and utilize their existing benefits while also assisting with enrollment in government programs, care coordination, and access to mail-order pharmacies.

Karl Ulfers, co-founder and CEO of DUOS, emphasized the critical timing of this investment: "Our country's population is rapidly shifting towards an inverted population pyramid, where we have more people over 65 than under 18, while also facing the most complex and shifting Medicare and Medicaid landscape since the creation of Medicare Advantage."

Expansion and Leadership Changes

As part of its growth strategy, DUOS has announced key leadership changes. Jenn Kerfoot, previously Chief Strategy & Growth Officer, has been promoted to president of market operations. Additionally, Alex Mason, partner at FTV Capital, and Justin Levine, vice president at FTV Capital, have joined DUOS' board of directors.

The company plans to allocate a significant portion of the new funding towards proactive marketing and innovation efforts. DUOS is also focused on expanding its engineering organization and building a dedicated team under Kerfoot's leadership to drive product innovation.

Addressing Market Needs

With Medicare Advantage enrollment now covering more than half of all beneficiaries, payers face increasing pressure to improve health outcomes and manage costs. DUOS aims to address these challenges by not only engaging members through outreach but also closing the loop between benefit design and member action.

Alex Mason of FTV Capital praised DUOS' approach: "Most health tech promises to improve engagement, but DUOS actually proves it, with real completion rates and measurable impact. DUOS stands out for leveraging AI to build the critical infrastructure health plans need to operate efficiently and improve member outcomes at scale."

As the healthcare landscape continues to evolve, DUOS' AI-driven platform represents a significant step forward in helping seniors navigate the complexities of healthcare benefits and access the care they need.