Portfolio stories

Kismet is one of the fastest-growing technology companies in Australia. Since its launch in February 2023, Kismet has connected caregivers, healthcare providers, and health insurance globally, providing access to more than 35,000 providers and support coordinators. The company aims to improve access to care services through its comprehensive digital ecosystem for the global in-home, disabled, and aged segments. This ecosystem integrates a marketplace, financial planning tools, and a digital attendance and payment system that caters to all stakeholders, with an initial focus on care recipients in Australia.

With its most recent fundraise, Kismet will focus on reducing administrative burdens and improving efficiencies within NDIS, to ensure that high-quality healthcare is accessible to everyone.

Challenges faced by NDIS and how Kismet can help

The National Disability Insurance Scheme (NDIS) was introduced to improve the lives of over 500,000 Australians living with a disability. However, challenges such as overspending, fraud, and a lack of patient outcomes have hindered its progress. The program is expected to soon cost Australia over $100 billion a year. In 2022, Michael Phelan, then the Australian Criminal Intelligence Commission chief, highlighted that a significant portion of disability funding was being misused by organized crime groups, prompting a government crackdown.

Kismet aims to address these issues by making the NDIS more efficient, not only by tackling fraud but also by streamlining the payment processes. The NDIS processes 300,000 to 500,000 payments a day are only surpassed by Medicare. Kismet believes it can enhance the financial systems to reduce transfer costs and improve efficiency.

Kismet’s Unique Digital Ecosystem

Kismet’s unique and differentiated digital ecosystem approach facilitates the entire care delivery process on its platform, catering to all stakeholders. Positioned at the intersection of software, healthcare, e-commerce, and payments, Kismet is creating a new category in healthcare. Its web and mobile-based platform, Kismet Participant, organizes healthcare providers into more than 30 categories based on distance, rating, or price, matching an individual's insurance benefits or NDIS plan. This allows users to find and book services that suit their needs.

Future Vision and Global Expansion

Looking ahead, Kismet aims to expand its marketplace by onboarding more service providers and scaling its platform globally. The company envisions helping millions worldwide access the care they need, addressing issues such as surging living costs, an aging population, and the growing incidence of chronic diseases. By improving access to care services through its comprehensive digital ecosystem, Kismet seeks to simplify the management of health plans and services, ultimately reducing costs and increasing accessibility.

Community Engagement and Impact

Since its founding in 2023, Kismet has built a community engagement ecosystem that digitally connects care receivers, caregivers, health insurance, and healthcare providers in the in-home, disabled, and aged segments worldwide. Initially focused on addressing fraud and non-compliance within the disability and aged care sectors, Kismet continues to improve access to services, fostering a more connected and efficient healthcare environment.