Aquiline and Flare Capital Partners co-led the round with participation from existing investors: 645 Ventures, Freestyle Capital, Triple Impact Capital and Techstars. The capital scales Upside across Medicaid, Medicare Advantage, and employer benefits.

Aquiline 和 Flare Capital Partners 共同领投了本轮融资，现有投资者 645 Ventures、Freestyle Capital、Triple Impact Capital 和 Techstars 也参与其中。这笔资金将推动 Upside 在医疗补助（Medicaid）、联邦医疗保险优势计划（Medicare Advantage）以及雇主福利业务上的规模扩张。

FORT LAUDERDALE, Fla.

佛罗里达州劳德代尔堡

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，

June 25, 2026

2026年6月25日

/PRNewswire/ -- Upside, the only nationally scalable housing stability platform purpose-built for healthcare, today announced a $20 million Series A.

/美通社/ -- Upside，唯一一个专为医疗保健打造的、可在全国范围内扩展的住房稳定平台，今天宣布完成2000万美元的A轮融资。

Aquiline

鹰钩鼻的

led the round with

以...领投本轮

Flare Capital Partners

Flare Capital Partners

and continued support from existing investors including 645 Ventures, Freestyle Capital, Triple Impact Capital and Techstars. The capital accelerates Upside's national expansion, builds out go-to-market capabilities across health plans and employers, and deepens investment in the company's AI-supported delivery platform.

以及来自现有投资者（包括 645 Ventures、Freestyle Capital、Triple Impact Capital 和 Techstars）的持续支持。这笔资金将加速 Upside 在全国范围内的扩张，构建面向健康计划和雇主的市场推广能力，并加大对公司人工智能支持的交付平台的投资力度。

Upside is led by industry veterans who previously built category-defining healthcare companies, including MDLive, Papa, and Virta Health..

Upside 由行业资深人士领导，他们此前曾创立包括 MDLive、Papa 和 Virta Health 在内的多家定义行业品类的医疗保健公司。

Housing instability is one of healthcare's most expensive and most addressable gaps, and it spans both government and commercial lines of business. Health plans see it in claims: $9.3 billion in inpatient costs nationally, yet most still measure activity over outcomes. Employers see it in workforce data: workers who lose their homes are 11 to 22 percentage points more likely to lose their jobs, and their highest utilizers are frequently the same employees experiencing housing precarity.

住房不稳定是医疗保健领域成本最高且最可解决的差距之一，涉及政府和商业两条业务线。健康计划在理赔数据中看到了这一问题：全国住院费用高达93亿美元，但大多数计划仍侧重于衡量活动量而非结果。雇主在劳动力数据中也看到了这一现象：失去住房的员工失业的可能性高出11至22个百分点，而医疗资源使用最多的员工往往正是那些面临住房不稳的员工。

They are not looking at different problems — they are looking at the same person. And they both need one partner who finishes the work..

他们关注的并非不同的问题，而是同一个人。而且他们都需要一位能够完成工作的合作伙伴。

Upside was built for that standard. Operating across 10 states, the company pairs dedicated Care Guides with AI-supported housing orchestration, all powered by a proprietary, curated affordable housing inventory database spanning public and non-public data. Together they identify, engage, and stabilize members before housing challenges become medical crises.

Upside 正是为此标准而打造。该公司业务覆盖十个州，将专属的护理向导与人工智能支持的住房协调服务相结合，这一切均由其专有的、经过精心整理的可负担住房库存数据库提供支持，该数据库涵盖了公共和非公共数据。通过这种协作，他们在住房问题演变为医疗危机之前，及时识别、介入并稳定会员的状况。

The model of care delivers 90%+ enrollment, more than half of members stabilized within 90 days, and up to 4x ROI in 12 months, while achieving industry-leading member satisfaction. In just the past 18 months, the platform has expanded rapidly, securing partnerships with more than 17 national, state and regional health plans and is now supporting four of the largest National Payers.

该护理模式实现了超过90%的入会率，使半数以上会员在90天内状况稳定，并在12个月内带来高达4倍的投资回报率，同时取得了行业领先的会员满意度。仅在过去的18个月中，该平台迅速扩张，与超过17家全国性、州级和区域性健康计划建立了合作伙伴关系，目前正为四家最大的全国支付方提供支持。

'Housing is the highest-cost social problem in healthcare, and most solutions stop at the referral,' said Jake Rothstein, Co-Founder and CEO of Upside. 'We go beyond that. Upside places people into stable housing and keeps them there. This growth capital means we get to do that for more people, in more markets, more quickly.'.

“住房是医疗保健领域中成本最高的社会问题，而大多数解决方案仅止步于转介，”Upside 联合创始人兼首席执行官杰克·罗斯坦表示。“我们超越了这一局限。Upside 将人们安置到稳定的住房中，并帮助他们长期居住。这笔增长资本意味着我们能够更快、在更多市场、为更多人提供这样的服务。”

Building across plans and employers in parallel

跨计划和雇主并行构建

Upside will deploy the Series A funding across Medicaid, Medicare Advantage, and employer-sponsored markets simultaneously. The employer push opens a meaningful new front. Upside's care model translates cleanly into a workforce benefit covering housing navigation, rental and mortgage support, elder transition planning, and deposit assistance.

Upside 将同时在医疗补助（Medicaid）、联邦医疗保险优势计划（Medicare Advantage）以及雇主赞助市场部署其 A 轮融资。面向雇主的拓展开辟了一个具有重要意义的新战线。Upside 的护理模式可清晰地转化为一种员工福利，涵盖住房导航、租金和抵押贷款支持、老年人过渡规划以及押金援助。

With dedicated go-to-market investment, the company is positioned to bring that benefit to large self-insured employers at scale..

凭借专项的市场推广投资，该公司有望将这一优势大规模地惠及大型自保雇主。

The round also funds leadership hires and operational depth, including Care Guide capacity, partner operations, and care model oversight, so the model that drove these results performs at greater volume without compromise.

本轮融资还用于招募领导层人才并加强运营深度，包括提升护理指南能力、优化合作伙伴运营以及加强护理模式监管，从而在毫不妥协的前提下，使推动这些成果的模型能够以更大的规模高效运行。

'Housing instability is one of the most persistent drivers of avoidable healthcare spend. Upside has the model, team, and infrastructure to address it, and we're excited to partner with the company in its next chapter,' said Dante La Ruffa, Partner and Head of Aquiline's Venture & Growth Strategy. 'We see significant opportunities to accelerate Upside's momentum through Aquiline's strategic connectivity across health plan, payer, and broker channels, as well as through product adjacencies that further expand the company's value proposition for all key stakeholders.'.

“住房不稳定是导致可避免医疗支出的最持久驱动因素之一。Upside 拥有应对这一问题的模型、团队和基础设施，我们很高兴在公司的下一发展阶段与其携手合作，”Aquiline 风险投资与增长战略主管兼合伙人 Dante La Ruffa 表示。“我们认为，通过 Aquiline 在健康计划、支付方和经纪人渠道中的战略连接，以及通过进一步拓展公司对所有关键利益相关者价值主张的产品邻近性，存在加速 Upside 发展势头的重大机遇。”

'The Health Related Social Needs solutions market is approaching the mid-innings of maturity. The first wave saw companies find success with population-wide screening and solutions directories, but stopped short of driving or guaranteeing outcomes. What drew us to Upside was the rapid cycle time of referral to engagement to success in closing key needs gaps, starting with housing, in a matter of months,' said Dan Gebremedhin, MD, Partner at Flare Capital Partners.

“与健康相关的社会需求解决方案市场正步入成熟期的中期阶段。第一波浪潮中，一些公司通过面向整个人群的筛查和解决方案目录取得了成功，但未能推动或保证实际成果。吸引我们投资Upside的是，其在数月内便实现了从转介到参与再到成功填补关键需求缺口（始于住房问题）的快速周期。”Flare Capital Partners的合伙人丹·格布雷梅丁医学博士表示。

'We look forward to partnering with the company to further deploy AI technologies to ensure this valuable service is cost-effective and can be deployed to more populations with proven medical and benefit design ROI.'.

“我们期待与该公司合作，进一步部署人工智能技术，以确保这项有价值的服务具有成本效益，并能够凭借经证实的医疗及福利设计投资回报率，惠及更广泛的人群。”

As part of the investment, Aquiline's Avery Klinger will join Upside's Board of Directors along with Dan Gebremedhin of Flare Capital Partners.

作为此次投资的一部分，Aquiline的Avery Klinger将与Flare Capital Partners的Dan Gebremedhin一同加入Upside的董事会。

Human-led, AI-accelerated

人类主导，AI加速

Upside will continue investing in its technology platform, which combines proprietary AI workflows for acuity stratification, housing matching, and case management with a human-first delivery model. AI handles the repeatable work, surfacing housing options, summarizing cases, flagging risk, so Care Guides stay focused on the complex, relationship-driven work that actually drives outcomes..

Upside 将继续投资其技术平台，该平台将用于精准度分层、住房匹配和案例管理的专有 AI 工作流与以人为本的服务交付模式相结合。AI 负责处理可重复性工作，如提供住房选项、总结案例情况和标记风险，从而使护理指南专员能够专注于真正推动成果实现的复杂且以关系为导向的工作。

'AI does not replace a Care Guide. It frees one up,' said Peter Badgley, Co-Founder and COO of Upside. 'When the repeatable work runs in the background, our team can do more of what only people can do, which is sit with someone in crisis and get them somewhere safe.'

“人工智能不会取代护理向导，而是将他们解放出来，”Upside联合创始人兼首席运营官彼得·巴德利表示。“当可重复的工作在后台运行时，我们的团队可以更多地从事只有人类才能完成的工作，即陪伴处于危机中的人，并帮助他们到达安全的地方。”

Since 2020, Upside has stabilized members across every major line of business in healthcare, from D-SNP and Medicaid to commercial and employer-sponsored populations. With this round, the company enters its next phase: larger in reach, deeper in technology, and faster in the markets where housing instability does the most damage.

自2020年以来，Upside已在医疗保健领域的各大主要业务线中稳定了会员群体，涵盖D-SNP（双资格特殊需求计划）、医疗补助计划，以及商业保险和雇主赞助保险人群。凭借本轮融资，公司迈入下一阶段：扩大覆盖范围，深化技术布局，并在住房不稳定问题造成最严重损害的市场中加速拓展。

The mission is the same one Upside started with. Resolving housing instability completely, for the people who need it most..

使命与Upside创立之初一致：为最需要的人群彻底解决住房不稳定问题。

About Upside

关于Upside

Upside is the only nationally scalable housing stability platform purpose-built for healthcare. The company partners with health plans and employers to identify and stabilize members and employees experiencing housing instability, connecting them to safe, supportive housing while reducing avoidable emergency utilization and improving health outcomes.

Upside 是唯一一个专为医疗保健领域打造的、可在全国范围内扩展的住房稳定平台。该公司与健康计划和雇主合作，识别并帮助经历住房不稳定的会员和员工实现居住稳定，将他们与安全、支持性的住房资源相连接，同时减少可避免的急诊使用，改善健康结果。

Upside pairs dedicated Care Guides (licensed social workers and housing specialists) with AI-supported housing orchestration to deliver measurable results at scale. The platform serves Medicaid, Medicare Advantage, D-SNP, commercial, and employer-sponsored populations across the full housing continuum, from crisis intervention to long-term tenancy support.

Upside 将专属护理指南（持牌社会工作者和住房专家）与人工智能支持的住房协调服务相结合，以规模化地交付可衡量的成果。该平台服务于医疗补助（Medicaid）、 Medicare Advantage、D-SNP、商业保险以及雇主赞助保险的人群，覆盖从危机干预到长期租赁支持的全方位住房 continuum。

Founded in 2020 and headquartered in Fort Lauderdale, FL, Upside is redefining how healthcare addresses housing as a foundation of care. Learn more at.

Upside 成立于 2020 年，总部位于佛罗里达州劳德代尔堡，正在重新定义医疗保健如何将住房作为护理的基础。了解更多请访问。

www.joinupside.com

www.joinupside.com

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About Aquiline

关于 Aquiline

Aquiline is a global private investment firm with offices in New York, London, and Philadelphia that focuses on financial services and technology. As of December 31, 2025, Aquiline had approximately $12 billion of assets under management and deployed approximately $8.3 billion of capital across the firm's strategies since inception..

Aquiline 是一家全球性私募投资公司，在纽约、伦敦和费城设有办事处，专注于金融服务和科技领域。截至2025年12月31日，Aquiline 的管理资产规模约为120亿美元，自成立以來在公司各项策略中累计部署资本约83亿美元。

About Flare Capital Partners

关于 Flare Capital Partners

Flare Capital Partners is a leading healthcare technology venture capital firm advancing innovation-driven companies to improve positive health outcomes, broaden care access, and lower healthcare costs. We partner with exceptional founders solving healthcare's hardest challenges, supporting each with our deep sector expertise, unparalleled industry resources, and proven access to commercial opportunities.

Flare Capital Partners 是一家领先的医疗科技风险投资公司，致力于推动以创新为驱动的企业发展，以改善健康结果、扩大医疗服务可及性并降低医疗成本。我们与解决医疗健康领域最艰巨挑战的杰出创始人携手合作，凭借深厚的行业专业知识、无与伦比的产业资源以及经验证的商业机会渠道，为每一位创始人提供支持。

Our team of established investors and senior operating executives has invested in 80+ companies and has nearly $1 billion in assets under management. Learn more at .

我们的团队由资深投资者和高级运营高管组成，已投资80多家公司，管理资产规模近10亿美元。了解更多详情，请访问。

www.flarecapital.com

www.flarecapital.com

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SOURCE Upside

来源：Upside

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