Jeet Singh is a legendary figure within the Boston tech scene, as he was the CEO & Co-Founder of ATG in Cambridge, which went public before its acquisition by Oracle in 2010 for $1B. Today, he runs Redstar Ventures along with Joe Chung, who was also a co-founder of ATG.
Redstar is an incubator which has launched companies like LoopIt (acquired by Nanigans) and ThirdChannel. “We look at really big themes and demographic trends,” Singh says of Redstar’s approach. “We start with ‘Let’s take a really big need and see what’s happening in this market.’” It is this mentality that Singh takes into consideration when starting new companies under the Redstar umbrella.
After researching the aging baby boomer demographic, Singh noticed a void for the ever-growing caregiver market. Caregivers have an honorable and massive responsibility of taking care of elderly parents, relatives, or loved ones. According to the Family Caregiver Alliance, there are over 40 million caregivers with an average age of 49 years old. The team at Redstar noticed how caregivers’ needs were not getting addressed and this was the right type of opportunity for Redstar to pursue.
Ultimately, this led them to focus their efforts on a new company called Kinto.
Kinto’s goal is to provide a variety of digital tools and online communities to help caregivers address a variety of needs that are not just medical-related. Keeping track of the loved one’s health is just one of many tasks, as caregivers will also need to plan their own finances and try to balance their own career and personal relationships during this period of time. For anyone working as a caregiver, it is an incredibly difficult and stressful job.
“The purpose of the app was to give the caregiver a big hug,” Singh says. “There’s a lot of people [caregivers] in the same situation. We wanted to help guide people through all of what they will go through.”
From the moment your loved one is diagnosed or is released from the hospital, Kinto provides caregivers everything they need for each step along the way. Some core elements of the app include an easy to understand guide simplifying medical and healthcare terms; the ability to set up care teams to keep everyone on the same page as a communication layer; a community where you can connect with other people dealing with the same medical issue. The app also contains task-specific tools for medication management and other important matters like estate planning and advance directives.
A big differentiator for Kinto is the fact that it is not attached to a medical system or a healthcare provider. Instead, Kinto will take a direct to consumer approach and build awareness through different medical foundations, employers and their own digital marketing efforts. The company will generate revenue by leveraging a freemium model for advanced features. Singh sees future revenue opportunities through lead generation products and services, as well as sharing anonymized outcome data aggregation with pharma and healthcare companies, if they succeed in scaling.
The app, which is launching today, is available for download on both iOS and Android. The company has also been selected as a top 10 finalist in the 2017 AARP Innovation Competition.
If you know anyone who has been the primary caregiver of a loved one, you end up seeing what’s involved; it is a lot of moving pieces, parts and emotions. Kinto accomplishes a goal Singh and his team set out to do; provide a more personal touch to caregiving and a better way to manage it.