On behalf of the American Family Insurance Institute for Corporate and Social Impact, I am proud to announce our new investment in Rosarium Health.
When our team started developing our AgeTech investment thesis last year, I wrote: “We are interested in startups that adapt the physical infrastructure of a home, or an older adult’s ability to safely navigate their home, in ways that are financially accessible to those who need support the most.”
As our first investment in AgeTech, Rosarium Health does just that. The Rosarium platform connects health plans with a network of credentialed clinicians and contractors to manage end-to-end home modifications to improve home safety and accessibility for aging and disabled Americans. This enables payers to deliver high quality care at the lowest cost location: at home. Rosarium Health felt like a fit from my first conversation with CEO and Co-Founder Cameron Carter, but why did we ultimately invest?
Rosarium is tackling an expensive, growing problem. Two in ten American households have a person with accessibility needs, and 40% of those households don’t currently have necessary features like ramps or a bedroom/bathroom on the entry level (HUD, 2019). When individuals can’t live safely in their homes, they often ultimately turn to the long-term care system, which is both expensive and already overburdened. Americans age 65 and older are growing in absolute number and in proportion to the population each year (Population Reference Bureau, 2024).
Cameron’s professional and lived experiences align to solve the problem. As CEO of Rosarium, Cameron brings a decade of experience with health plans to the table, with unique experience in Managed Medicaid, value-based care, and the increasingly relevant frontier of supplemental benefits. When it came time for him to help his aunt navigate aging-in-place, Cameron’s experience met the moment and informed the development of Rosarium Health’s product to streamline home modification at scale.
Rosarium Health’s solution is resonating with Medicaid. In 2022, Medicaid made up 61% of total US spending on all long-term services and supports (KFF, 2024). When faced with long-term care costs, home modification can drive a tremendous return on investment for payers by extending independent living. This value proposition is compelling and already delivering results for Managed Medicaid, with Rosarium serving Medi-Cal members across California. Through Medicaid, Americans that have the least personal resources to modify their homes can have access to the supports they need.
Health plans are incentivized to solve this problem and Rosarium Health is a promising solution for it. We believe the impact will be seen among individuals and families across the country as they age with safety, dignity, and comfort in their own homes and communities. AmFam Institute is honored to support Rosarium as it strives to scale its impact, and to be investing alongside The Council and Symphonic Capital, as well as existing investors including Primetime Partners, Rock Health Capital, Tundra Ventures, Flare Capital Partners, Sequential Ventures, and Groundbreak Ventures.