Scoop: Minnesota senior care startup Lifespark seeks growth capital – Axios

Lifespark, a tech-powered startup looking to reinvent senior care, is seeking $50 million in growth equity funding, sources tell Axios.
Why it matters: Despite an aging population with increasingly complex conditions, America's antiquated senior care model is contributing to tremendous waste in the health care ecosystem, and poor service to patients.
Details: Lincoln International is advising Lifespark on the process, which is well underway, sources say.
How it works: Lifespark, based in St Louis Park, Minnesota, says it provides whole-person senior services that allow older adults to live their best lives independently as they age.
Flashback: Lifespark in October 2021 raised $20 million in a Series B round led by a fund managed by insider Virgo.
Between the lines: Lifespark and UCare have partnered to develop value-based arrangements, consistent with CEO Joel Theisen's public commentary around his goal to support health care's shift to value-based payment, from fee-for-service.
State of play: Various home- and senior care-focused startups have gained funding recently, all tackling the market with a different approach. For example:
Lifespark and Lincoln did not return Axios' requests for comment.
Claire Rychlewski contributed reporting.

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