Startup Waterlily secures funding to expand care planning tech

San Francisco-based startup Waterlily has raised $7 million in seed funding to expand its AI-driven platform for long-term care planning. Founded by Lily Vittayarukskul, the company helps families and financial advisors predict care costs and create tailored financial strategies. Using machine learning and data from government and insurance sources, Waterlily provides personalised recommendations on funding options, such as life insurance and long-term care policies.

Waterlily’s technology was inspired by Vittayarukskul’s personal experience of caring for her aunt, which exposed the financial and emotional strain of long-term care. The platform’s predictive AI can be used for individuals over 40, offering insights into when and how they may need care. The startup already serves major insurance carriers, including Prudential, and hundreds of independent advisors.

With its latest funding round, Waterlily plans to enhance its AI models, expand its team, and strengthen its partnerships. The company is also exploring international expansion to markets such as the UK and Canada, aiming to bridge the gap in long-term care planning and ensure more families are prepared for the future.