Waterlily, a financial technology company that uses AI to predict long-term care needs, has secured $7 million in seed funding led by Brewer Lane Ventures. The round includes strategic investments from Genworth, Nationwide, and Edward Jones Ventures, along with industry leaders such as Tim Kneeland, former CEO of GE Insurance & Transamerica LTC.
The company’s AI platform analyzes over 500 million data points to predict when individuals might need long-term care, how their needs will progress, and the specific hours or months of care required from family members, professional caregivers, or care facilities. The system then creates personalized care plans based on personal financial data, insurance coverage, and healthcare trends.
“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.”
The platform, which launched in March 2024, is currently being used by financial advisors, insurance carriers, distributors, and independent insurance agents. “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.”
Founded by Lily Vittayarukskul and Evan Ehrenberg, Waterlily has already secured contracts with major companies including Prudential and has helped hundreds of families plan for long-term care while enabling wealth advisors and agents to close millions in assets under management and policy premiums. The new funding will support platform growth, development of advanced AI-powered tools, and creation of more customized data-driven solutions.
