Duet Raises $15M in Series A Funding Led by Kairos

Duet, a NYC-based provider of a network for nurse practitioner-owned primary care practices, has raised $15 million in a Series A funding round, bringing the total amount to $22.5 million.

The round was led by Kairos with participation from Lerer Hippeau.

The company will use the funds to bring more nurse practitioner-owned clinics into its network, expand value-based care partnerships with insurers and grow its engineering team to develop more automation tools.

What is Duet?

Duet supports independent primary care practices owned by nurse practitioners (NPs). It combines technology, operational support and partnerships with insurers to help nurse practitioners establish and manage their clinics.

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Its AI-powered tools help practices identify patients who have missed appointments or fallen out of care and bring them back for treatment. The platform also highlights important health issues before appointments and automates administrative tasks such as billing, credentialing and payer contracting.

Duet also helps practices access alternative payment contract's, where nurse practitioners can earn more by meeting care quality and cost targets. This allows them to focus more on patient care while managing the business side of their clinics.

How Much Funding Has Duet Raised?

Duet has raised $22.5 million in total funding following its latest $15 million Series A round.

The company has not provided details of its previous funding rounds or the dates of earlier investments.

Who Invested in Duet’s Series A Round?

The $15 million Series A round was led by Kairos, with participation from Lerer Hippeau.

Why the Funding Matters

Nurse practitioners are expected to be among the fastest-growing professions in the US over the next decade. However, independent NP-owned clinics often face higher compliance costs and lower reimbursements than physician-owned practices for similar services.

Duet aims to reduce these challenges by taking administrative work off practitioners' hands and helping them build stronger relationships with insurers.

The new funding will support the expansion of its clinic network, value-based care partnerships and engineering team. The company will also continue developing automation tools to help practices manage daily operations.

Who founded Duet?

Duet was founded by Jonathan Goldberg. The company is headquartered in New York City and works with independent nurse practitioner-owned primary care practices across the US.

“Nurse practitioners already deliver a big share of primary care, and their patients trust them,” said Jonathan Goldberg, Founder and CEO of Duet. “But more than 100 million Americans still lack access to primary care and too many preventable problems go unaddressed. So NPs are launching their own clinics to reach more people who are overlooked by the system.

Market and Business Growth

Duet's network handles around 400,000 patient visits annually and reports a patient Net Promoter Score of 92.

According to the company, practices joining its network have seen preventive cancer screenings increase by 30% and emergency room visits decline by 20%. Around 25% of patients who had previously fallen out of care have returned to treatment.

Nurse practitioners participating in Duet's alternative payment contracts have earned 25% to 50% more revenue by meeting quality and cost targets. In New Hampshire, the company's anchor market, its NP network outperformed peers on total cost of care by 19%, generating savings.

What Happens Next?

Duet plans to expand its network by bringing more independent nurse practitioner-owned clinics onto its platform and strengthening its insurer partnerships.

The company also plans to launch what it describes as the first NP-led Accountable Care Organization (ACO) in 2027. The programme will give independent NP-owned practices access to Medicare shared savings programmes while allowing practice owners to retain control of their clinics.

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