Some of the most compelling opportunities in AI exist in massive markets with low NPS scores, high operating costs, and service models that have remained largely unchanged for decades. When AI can simultaneously improve service quality and reduce delivery costs, entirely new businesses become possible. That’s why we’ve backed exceptional AI-native services companies like Crosby and Reserv, and now, Adaptive Innovations.

Adaptive Innovations is transforming healthcare delivery, starting with home health. We are thrilled to announce we led their $10M seed round and have doubled down in their $50M Series A.

The teams best positioned to win in AI-native services combine deep industry expertise, operational excellence, and the technical ability to build specialized agent systems that can navigate complex workflows. Adaptive embodies all three.

Rather than layering AI onto legacy processes, the company has taken a vertically integrated approach, building its own AI systems from the ground up while directly delivering services to patients. This allows the team to redesign care delivery around what technology makes possible, rather than what legacy systems require.

Home health is unusually well-suited to AI leverage. The back office is a labor sink: every visit is burdened by manual prior auths, coding, and billing that scales linearly with volume. The clinician's day is full of low-value time: charting in the car between patients, driving across a service area, redoing documentation that should have been captured at the bedside. And the industry itself is fragmented, which means standardization at the operational layer produces gains that compound with every market entered. AI changes the shape of the cost curve, which changes which patients an agency can afford to take.

Adaptive’s strategy is ambitious. By expanding affordable care to a larger swath of the population that most agencies can’t accept through their operating model, Adaptive can build extraordinary local density in each market it enters. Over time, this creates a powerful flywheel of operational efficiency, patient outcomes and clinician experience.

It’s already working. Since launching in 2025, Adaptive has delivered over 100,000 visits and partnered with 500+ referring healthcare organizations, including every major Texas hospital system. They’ve reduced rehospitalizations to 4.9%, compared to a 12.9% industry average. Clinicians prefer to work for Adaptive because they save significant time on documentation and driving. Those healthcare workers can focus on what matters most: delivering care.

Take, for example, the time-intensive OASIS note. In theory, clinicians should fill out this intake form while bedside with a patient, learning more about the patient’s status, comorbidities and overall needs. The highest-performing nurses are able to complete this task in about an hour and a half, or 1.5x the time they actually spend with a patient. In practice, clinicians are so bogged down with time-intensive paperwork that they complete this charting in their car between patient visits or at the end of the day. Adaptive built tooling to speed up this process, freeing up healthcare professionals’ time to be spent delivering care.

Adaptive’s approach has the potential to create a category-defining healthcare company that improves access to care for patients who are historically underserved while building a durable and impactful business. Most importantly, Adaptive is led by an exceptional team.

We got to know Alex Wendland when he was a BCV Fellow in our NYC cohort. He immediately struck us with his insightful questions and strong opinions about everything from health-related topics, to the quantity of plants that any given room should have (a very high number). His background is similarly striking. During undergrad at Harvard, he started a medical device company that received FDA approval. Shortly after graduating, he joined Pinwheel and quickly rose to become CPO, earning a reputation as someone who easily earns trust.

We were equally impressed by his co-founders. Ryan Tolsma, CTO, is a former quant researcher and research engineer at Character AI. He dropped out of high school at age 16 to attend Stanford. Logan Stinson, Co-CEO, is a veteran healthcare operator and private equity investor with deep expertise in post-acute care, having scaled successful home health agencies in Texas. Hunter Stinson, COO, is a former nurse and US Army ranger. This founding team combines deep healthcare expertise with an obsession for execution and a bold vision for what home health can become.

Adaptive is expanding quickly, and if you are excited to build the healthcare system America deserves, they are hiring.

We’re incredibly proud to be in business with Adaptive, and we believe they are a model for a mission-driven team leveraging AI to tackle hard societal problems.