Healthtech startup Kismet has raised an additional $20 million, bringing its total seed funding to $32.5 million. This latest investment follows an earlier round of $12.5 million secured just six months ago and will support the company’s plans for global expansion.
Prosus Ventures and Airtree Ventures, who led the first phase of the seed round, participated in the latest round as well, joined by new backer MassMutual Ventures from Singapore. According to co-founder and CEO Mark Woodland, splitting the seed round into two phases allowed for greater efficiency, with both existing and new investors contributing to the final total.
With $32.5 million raised, Kismet has achieved the largest seed round in the history of Australian startups, an impressive milestone for a company that only launched in early 2023. The startup has rapidly positioned itself as a major player within Australia’s National Disability Insurance Scheme (NDIS), now managing plans for over 20,000 participants.
Kismet was founded by Mark Woodland—who previously established Xplor—along with co-founders Stefan Cordiner, Lauren Grimes, Sam Armstrong, and Mathew Ellis. The company is focused on transforming healthcare management, particularly in the NDIS and aged care sectors, through its AI-driven platform. The platform streamlines the entire healthcare process, currently serving over 100,000 users, including 35,000 providers and support coordinators.
The platform acts as a personalized assistant for healthcare, simplifying the process of booking, managing, and paying for services. “Our AI technology helps take the complexity out of healthcare management, ensuring patients and families can focus on well-being while we handle the administrative tasks,” Woodland explained. By reducing these burdens, Kismet enables healthcare providers to focus more on delivering quality care.
Despite its rapid growth, Kismet has kept its team lean, adding only seven new employees since March 2024, for a total workforce of 23. Woodland emphasized that startups don’t necessarily need large teams to succeed, noting that expanding the team excessively can be more about image than impact. “We focus on solving problems effectively rather than adding headcount for the sake of it,” he said.
While Kismet maintains a cautious approach to internal scaling, the company is actively exploring international growth opportunities. Woodland highlighted that aging populations are a global challenge, and Kismet is eager to extend its solutions to help more families manage the aging process with dignity and ease.
Before this seed round, Kismet had already raised $4 million in pre-seed funding in 2023, backed by Airtree, Black Nova, and Flying Fox. As the company looks to the future, its mission remains focused on revolutionizing healthcare with innovative, AI-powered solutions.
