Upside's Shift to Integrated Housing for Healthcare Solutions

Upside, initially recognized for its "deconstructed senior living" initiatives, is now pivoting to incorporate "housing for healthcare" solutions. In June, Upside raised $20 million in Series A funding, led by Aquiline and Flare Capital Partners, with additional support from 645 Ventures, Freestyle Capital, Triple Impact Capital, and Techstars.

Originally, Upside's focus was on collaborating with apartment complexes to lease to older adults while providing non-clinical care services. This model has evolved to help individuals, particularly Medicaid beneficiaries, maintain housing stability in response to increasing care needs. Their expanded services now also support Medicare and Medicare Advantage recipients, and employers, with partnerships targeting health insurers, hospital systems, and self-insured employers.

Upside's Founder and CEO, Jake Rothstein, noted in an interview with Senior Housing News that leveraging learned insights from their direct-to-consumer phase can significantly impact broader physical environment needs. This strategic shift aims to accommodate the growing demand for integrated healthcare and housing solutions.

The recent funding will enhance Upside's workforce, improve care guide capabilities, and optimize partner and care model management. The appointment of Brian Lichtlin as Chief Technology Officer marks a step toward accelerating technology integration. The company has experienced 18 months of consistent revenue growth and plans to use the new funds to expand business operations and technology investments.

With aspirations of penetrating the Medicare Advantage and self-insured employer markets, Rothstein expressed optimism about these opportunities. Utilizing AI agents, Upside aims to streamline administrative tasks while ensuring quality interactions between staff and clients, reinforcing the importance of connectivity in service roles.

Addressing the housing instability that affects 20% to 30% of at-risk populations is vital, according to Rothstein. Upside's innovative approach reallocates healthcare funds to address housing services, guiding health plans through a novel learning process. This transition, which began in 2023, sees Upside operating in 10 states. Through 2026, they aim to enhance service delivery for health plan and employer clients, with a strong focus on data empowerment.