Celebrating the Success of Our First Care Summit
We were thrilled to create and co-produce the inaugural Care Summit, held on May 30th in San Francisco. This pioneering event brought together over 250 founders, investors, partners, and industry leaders from the Care Economy, Family Technology, and Aging sectors to explore the transformative impact of technology on the future of care. At Magnify Ventures, we believe that investing in technology in the Care Economy is not only exciting from a financial returns perspective, but also essential for addressing the future needs of our society.
The Care Summit was spearheaded by Pam Kostka, our Executive in Residence and Chief Care Coordinator. Since joining Magnify in 2023, Pam has brought extensive experience as an entrepreneur, operator, and advisor, including three years building a movement in venture as the first CEO of All Raise.
The day was filled with provocative discussions between founders and investors on topics ranging from payer engagement to building family trusted brands and fundraising. The Care Summit underscored that care is not just a social imperative but also an economic issue with the potential to generate tremendous value. The care sector represents a staggering $6 Trillion in value and cost, making it a critical area for both capital returns and social impact. Experts shared insights about the role technology can play in implementing public policy, how AI is transforming care, and the innovative business models that leverage multiple payers to enhance accessibility and efficiency in the care sector.
The urgency around addressing the challenges in this sector is amplified by shifting demographics. As the population ages and family dynamics evolve, the demand for innovative solutions in care is more pressing than ever — over 10,000 people turn 65 every day in the US. The Care Economy is valued at $648 Billion and growing.
The event was made possible by generous sponsorship from JP Morgan and Pivotal Ventures, along with Banc of California, Cooley, Orrick, and our co-investors at Ulu Ventures. We are also thankful to our co-producers, Cake Ventures, FamTech.org, GingerBread Capital, The Holding Co., and Pivotal Ventures for their invaluable support.
Portfolio founders from Alix, Appa Health, Grouper, Kinside, MiSalud Health, Milo, Common Sense Privacy, Papa, Sunday Health, and Cocoon brought invaluable contributions.
The overwhelming enthusiasm and continued feedback from attendees underscore the profound potential of technology and innovation in reshaping parenting, family life, and aging.
