You ever try to manage 250 chronic conditions with a portal that patients forget their password to every time? Yeah, welcome to the Groundhog Day of American healthcare. But Jaan Health didn’t show up to patch holes in a broken system, they came to replace the plumbing. And now they’ve locked in over $25 million in funding to crank the water pressure up across the country.
The round, announced June 24, is anchored by $15 million in non-dilutive growth capital from Level Structured Capital, the creative debt arm of Level Equity. Props to Barry Osherow for spotting the velocity under the hood. And major nod to Sunil Abraham at KeyBanc Capital Markets, who played advisor and air traffic control on this one. No dilution, no drama, just capital with a compass.
Let’s talk origin story. Founder and CEO Nabeel Kaukab isn’t some PowerPoint-slinging tourist. He’s a Wall Street vet who advised on $50 billion in healthcare deals before the algorithm told him his own father’s heart attack could’ve been prevented with basic, proactive care. That hit turned into mission. That mission turned into Jaan Health.
And no startup gets built without code in the bloodstream. Co-founder and CTO Toufique Harun brings that data-driven bite, an engineer who helped build ICE’s first petroleum trading platform while still in college. From search engineering at AT&T Interactive to personalization algorithms that scale, Harun’s been solving hard problems since half the industry still used BlackBerrys.
Their product, Phamily, is AI that actually earns the “intelligent” part. Text-based, frictionless, and human, no portals, no nonsense. The platform’s redefining what a care manager can do, scaling caseloads by 5 to 10 times and averaging 95% patient engagement. One care manager now does the work of ten, while still getting replies that read like real conversations. That’s not software, that’s infrastructure.
Phamily isn’t just for patient check-ins. It’s helping healthcare organizations pull $400K in revenue per 1,000 patients, with 40% margins. And they’re doing it with over 150 partners, from Java Medical Group to NeuroNet and Integra Connect. That’s 4,000 oncologists, 1,000 neurologists, and a boatload of underserved patients now getting care before a crisis hits.
So what’s next? Scaling. Hiring. Deepening the AI. And using that $25M war chest to bring proactive care to millions more. Chronic care management isn’t a feature. It’s the challenge in healthcare. And Jaan Health isn’t just in the game, they’re building the new playfield.
Nabeel Kaukab. Toufique Harun. Eugene Krishnan. Alyssa Drew. Level Structured Capital. Sunil Abraham. This crew didn’t raise money to chase trends. They raised it because they’ve already built something that works.
