Waterlily: The AI-Powered Platform Transforming Long-Term Care Planning

From Personal Tragedy to AI-Driven Innovation

Lily Vittayarukskul was pursuing a degree in aerospace engineering when her life took an unexpected turn. Her aunt, who had helped raise her, was diagnosed with terminal colon cancer. The financial and emotional toll of managing her aunt’s long-term care drained the family’s resources, inspiring Vittayarukskul to pivot her career towards genetic and data science.

Determined to make a difference, she founded Waterlily, a San Francisco-based AI startup that helps individuals, financial advisors, and insurance agents navigate the complexities of long-term care planning. Through predictive AI, Waterlily models costs and funding strategies, enabling families to make informed financial decisions before a crisis hits.

AI-Driven Long-Term Care Predictions

Most people only start considering long-term care between the ages of 65 and 70, often when it's too late to prepare adequately. Waterlily uses advanced machine learning algorithms and over 500 million data points to forecast the cost, timing, and funding strategies for future care needs. The AI platform pulls from multiple sources, including government databases, long-term care providers, and insurance data, to generate highly personalized predictions.

Financial advisors and insurance agents use Waterlily’s insights to recommend suitable financial products such as:

Long-term care insurance policies

Life insurance with LTC riders

Annuities for long-term care funding

Self-funding strategies

According to Vittayarukskul, this approach ensures that individuals are financially prepared, reducing the burden on families when care is needed.

How Waterlily Stands Out in a Crowded Market

Unlike traditional financial planning tools that rely on national averages or Monte Carlo simulations, Waterlily’s predictive modeling personalizes forecasts based on an individual’s unique health and financial profile. Competing solutions, such as Genworth’s cost-of-care calculator or financial planning platforms like NaviPlan, eMoney, and RightCapital, offer general cost estimates but lack Waterlily’s AI-powered customization.

Waterlily’s user-friendly interface and deep predictive analytics make it an indispensable tool for advisors looking to provide better financial strategies for long-term care. The platform only launched publicly in March 2024, but its rapid growth indicates strong market demand.

Rapid Growth and Market Adoption

Since its launch, Waterlily has experienced explosive growth. The company’s monthly recurring revenue (MRR) is now 22 times higher than in its first month, with an average 58% month-over-month increase.

Currently, Waterlily serves:

Eight major enterprise clients, including Fortune 100 insurance carriers such as Prudential.

Hundreds of independent financial advisors and insurance agents.

A rapidly expanding user base in the financial planning industry.

Waterlily operates on a SaaS (Software as a Service) model, charging $250 per advisor or agent seat per month. This subscription-based approach ensures sustainable revenue while allowing for continuous platform improvements.

$7 Million in Seed Funding to Expand AI Capabilities

To accelerate its growth, Waterlily recently raised $7 million in seed funding, led by John Kim of Brewer Lane Ventures. The funding round included strategic investments from major industry players such as Genworth, Nationwide, and Edward Jones. The startup had previously secured a $2.2 million pre-seed round, bringing its total funding to $9.2 million.

The new capital will be used to:

1. Expand its engineering, data science, and enterprise management teams.

2. Strengthen its AI models and data partnerships.

3. Enhance its sales and marketing efforts to reach more advisors and clients.

The Vision for the Future

Waterlily isn’t stopping at long-term care planning. The company is exploring expansion into related financial areas, including:

1. Disability and critical illness insurance

2. Hospital indemnity and Medicare planning

3. Predictive underwriting for insurance carriers

Additionally, there is growing interest from international markets such as Canada, the UK, and parts of Asia. By leveraging AI-powered predictive modeling, Waterlily aims to revolutionize financial and healthcare planning on a global scale.

Key Takeaways

1. Waterlily is transforming long-term care planning through AI-driven predictions and personalized financial strategies.

2. The company has seen rapid revenue growth since its launch in March 2024.

3. $7 million in seed funding will fuel product expansion, AI improvements, and market outreach.

4. Waterlily is poised for global expansion and entry into adjacent financial sectors.

As AI reshapes industries, Waterlily stands at the forefront of financial innovation, ensuring that families are better prepared for the future.