Healthcare startup Kismet pockets $12.6 million Seed raise

- March 5, 2024 2 MIN READ
The Kismet team
A Melbourne-founded healthcare platform focused on the NDIS has banked US$8.2 million (A$12.6m) in Seed funding.

The round led for Kismet by Dutch-listed internet investment firm Prosus Ventures and existing backer Airtree Ventures. The startup previously raised A$4m in pre-Seed capital in May last year, with from Airtree, Black Nova and Flying Fox.

The startup, cofounded by Mark Woodland and his former colleagues at Xplor, initially sought address fraud in the NDIS the way it tackled the issue in childcare, launching in February last year. In 12 months is has provided caregivers with access to more than 35,000 providers and support coordinators.

Kismet is an end-to-end ecosystem to support health plan and fund management, and connect patients with providers, to address the disability and healthcare sector’s biggest challenges including fraud and non-compliance.

The new funds will be used on global health engagement and to bolster its team and international presence.

The platform is designed to alleviate the caregiving pressures faced by individuals responsible for elderly parents and young children, serving a broad range of needs across the age spectrum. It’s not taking the idea global for in-home, disabled and aged segments as a marketplace for care recipients, care coordinators, and service providers. It automatically books caregivers or recipients into healthcare appointments based on available insurance options.

Woodland, Kismet’s CEO, said their first year was 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,” he said

Prosus Ventures head of investments, SEA & ANZ,  Sachin Bhanot, said Kismet is looking to redefine caregiving.

“Kismet is defining a completely new category in healthcare – positioned at the unique intersection of software, healthcare, ecommerce and payments,” he said.

“It is Australia’s first comprehensive digital ecosystem player, with a founding team with demonstrable experience and success.