Lily Vittayarukskul switched from studying aerospace engineering to genetic and data science after her aunt battled terminal colon cancer, leading to financial strain. In response, she founded Waterlily, a San Francisco startup using AI to predict long-term care needs and costs for families. This AI tool helps in creating care plans and finding suitable payment methods, such as life insurance, annuities, or self-funding.

Waterlily leverages over 500 million data points to make personalized care predictions, aiming to assist individuals over 40. The startup, co-founded by Evan Ehrenberg, utilizes AI modeling software to provide highly accurate forecasts for long-term care needs. Waterlily’s platform, launched in March 2024, has shown significant growth, with a 58% monthly recurring revenue increase since its inception.

With major enterprise customers like Prudential and Fortune 100 insurance carriers, Waterlily charges $250 per advisor or agent seat per month for its SaaS-based revenue model. The startup recently secured $7 million in seed funding led by John Kim of Brewer Lane Ventures, with support from Genworth, Nationwide, and Edward Jones. Waterlily aims to expand its teams, enhance AI models, and explore other areas like disability and Medicare planning.

Looking ahead, Waterlily is considering international expansion to places like Canada and the U.K., backed by strong interest from insurance carriers. Investor John Kim believes Waterlily’s AI tool is a groundbreaking solution for the underserved LTC insurance marketplace, offering customized recommendations for long-term care needs.