Additional Strategic Investments from Genworth and Nationwide Help Drive Cutting-Edge Predictive AI

SAN FRANCISCO, Jan. 29, 2025 /PRNewswire/ — Waterlily, which uses AI to predict long-term care (LTC) needs up to decades before they happen, today announced the closing of a $7 Million Seed round led by John Kim, founding partner of Brewer Lane Ventures. The company also secured strategic investments from Genworth, Nationwide, and Edward Jones Ventures¹. In addition, Waterlily welcomed participation from key industry leaders including Tim Kneeland (former CEO of GE Insurance & Transamerica LTC), and others. Waterlily previously raised a $2.2M Pre-Seed round with notable investors including Scott Barclay (Managing Director of Healthcare at Insight Partners.)

Waterlily uses AI to help a family plan for long-term care needs with predictions, while estimating the costs. The accuracy and specificity of Waterlily’s machine learning algorithms enable it to predict a user’s likelihood of needing long-term care, the age at which their needs will begin, how their needs will progress over what time period, and how many hours or months of care specific family members, professional caregivers, or care facilities will provide.

The platform provides an overall personalized care plan – analyzed against personal financial data, insurance coverage, and health care trends to protect family savings and make sure loved ones have what they need to afford the cost of long-term care. Waterlily is being used by financial advisors, insurance carriers, insurance distributors, and independent insurance agents to help their clients build better plans for their long-term care, and to motivate behavioral changes.

“Traditional financial planning tools have just not kept pace with the long-term care complexity and uncertainty out there,” said John Kim, Founding Partner at Brewer Lane Ventures. “Waterlily is addressing one of the single most critical gaps in financial security and is well-positioned to help millions of families needing better tools to manage the financial challenges of aging.”

Few people realize that health insurance and Medicare do not fully pay for long-term care. As a result, millions of Americans remain unprotected against the financial impact of long-term care. Waterlily’s AI model is based on a series of assumptions regarding specific healthcare costs, personal health history, and caregiving trends. This program takes that information and develops a tailored plan, not only projecting when care can be initiated but also estimating the probable cost of the interventions, considering existing insurance policies and other financial resources.

“The system for financial planning today for long-term care is reactive, not proactive,” said Lily Vittayarukskul, Waterlily CEO and Co-Founder. “Our application of AI makes the whole process seamless and more intuitive for families to know what they need to do today to secure their financial future and care needs tomorrow. This significant investment represents a belief in Waterlily’s ability to improve the financial well-being of millions of families.”

This round of financing will enable Waterlily to continue growing its platform, create more advanced AI-powered tools, and really ramp up its ability to create a suite of much more customized data-driven solutions for individuals, families, and financial planners. The company aims to close the gap in long-term care planning so the next generation can better stand the chance of dealing with rising costs of long-term care.

About Waterlily

Waterlily is a financial technology company founded by Lily Vittayarukskul and Evan Ehrenberg. It predicts a family’s future Long Term Care (LTC) needs and costs in retirement by analyzing over 500M data points using our AI modeling software. Since launching in March 2024, Waterlily has closed paid contracts with Prudential and other similarly sized carriers, Financial Independence Group, one of the largest LTC BGAs, and one of the largest LTC providers in the midwest. Waterlily has helped hundreds of families navigate long-term care planning while enabling wealth advisors and agents to close on millions of dollars of assets under management and policy and annuity premiums.

Media Contact: Ann Noder, Ann@PitchPublicRelations.com, 480.263.1557. 

¹Edward Jones Ventures invested through JFCA, LLC, an affiliate of Edward Jones

SOURCE Waterlily

Copyright © 2025 Cision US Inc.