Adaptive Innovations, an AI-native home health care provider, has emerged from stealth mode with $60 million in the bank, including a $50 million Series A announced on Tuesday.
The Series A round was led by Felicis, with significant participation from Bain Capital Ventures, Optum Ventures, Sunflower Capital, Conviction, BoxGroup, Dorm Room Fund and Constellation, as well as angel investors from OpenAI. Also on Tuesday, the company disclosed a previously unannounced $10 million Seed round.
Investors were eager to fund the Series A round, Alex Wendland, co-CEO of Adaptive, told Home Health Care News.
“We don’t play reimbursement games or rely on these short-term government programs,” Wendland said. “What we’re doing is simple: it’s driving the admin costs to zero, and then recycling those savings into higher clinician pay and a compounding flywheel that lets us serve the entire home health market. Investors got that.”
Based in New York City and Dallas, Adaptive launched in stealth in 2025. The company operates in all major metro areas in Texas, offering in-home health care visits using a single-agent native AI platform. Adaptive currently employs over 200 clinicians and has completed over 100,000 patient visits.
Company leadership refers to Adaptive as AI-native, meaning it builds on AI as its foundation, rather than pulling in AI for “bits and pieces.” Among the ways the company uses AI are intake, eligibility, scheduling, charting, coding, quality assurance and other back-office functions.
“Everything we do, we have AI tooling for, so that we can let clinicians focus all of their effort on treating the patient,” Wendland said. “We’re able to do this because we’ve combined world-class engineering talent with world-class clinical operators. We have a 30+ person engineering team that is building all this tooling in the house.”
Wendland said Adaptive points AI at the bureaucracy that gets in the way of human interaction, rather than pointing AI at moments of human interaction. This ensures better care and support for patients, he said.
Adaptive’s strategy and goals
Adaptive’s operating strategy includes a payer-agnostic model. The company’s AI platform enables Adaptive to operate with much lower administrative overhead, allowing it to accept every patient regardless of insurer, Wendland said. While it accepts Medicare, Medicare Advantage and commercial insurance, the vast majority of its arrangements are with insurers other than Medicare.
The company is similarly happy to work within a range of reimbursement arrangements, whether it be fee-for-service, episodic or value-based agreements.
The Series A round accelerates Adaptive’s ability to expand in Texas, with a goal of bringing skilled home health to “every patient in Texas” and expanding across the U.S. over the next year. A tailwind for Adaptive’s future plans is the rapid evolution of AI models, Wendland said.
“They make it ever easier to address all the bureaucracy around delivering high-quality care,” he said.
Wendland went on to say that the company’s leadership does not see many headwinds that would inhibit its growth.
In addition to expanding its geographic footprint, Adaptive aims to expand its service lines to provide any form of care patients need. Wendland said that no service line is off the table.