Our Investment in Rosarium Health

America faces a growing crisis in elder care: while most seniors prefer to age in their homes (77% of adults aged 50+), our housing infrastructure isn't built for it. Despite Medicaid coverage for home modifications - a clear alternative to $9,733/month nursing homes - this market remains fragmented and underserved. Rosarium Health's solution immediately caught our attention: a platform that connects health plans and seniors with quality contractors, making aging in place both accessible and affordable. We're investing because we believe their approach to consolidating this fragmented market represents a critical step toward transforming elder care in America.

The urgency of this solution is clear: By 2030, 73M older adults (age 65+) will represent 21% of the US population (Source 1, 2). With nursing homes costing nearly $10,000 per month and looming Medicaid cuts (Source), we need scalable alternatives. This is especially critical given that Medicaid covers 60% of nursing home residents, making it one of the program's largest expenses.

Rosarium's integrated platform elegantly solves this market fragmentation by connecting health plans, physician organizations, housing non-profits, and private pay customers with vetted contractors and clinicians. Their end-to-end solution handles everything from referrals to outcomes tracking in one centralized system.

Our conviction in co-founder and CEO Cameron Carter grew with each meeting, starting from his deep expertise in value-based care models and operational focus to seeing the early traction and success with health plans. With over 10 years of experience working on the health plan side and value-based care at companies like Bright Health, Evolent Health, and Truven Health, Cameron has the First Builders operational DNA we love to see in our founders. We are honored and excited to partner with Cameron and his team to back Rosarium Health's mission from Fund II in providing a lower cost and higher quality of life experience for our most vulnerable populations.

At The Council, we consider healthcare to be an essential industry fitting squarely within Software’s Third Act with an immense opportunity to build. It’s also an incredibly nuanced and high-stakes industry that can make it very challenging to build within. However, innovations within healthcare have the potential to be long lasting and incredibly high impact in how we function as a society, and we are excited to continue backing founders like Cameron and companies like Rosarium Health that are transforming healthcare.