The Ziegler Link-age Longevity Fund, a $26.6 million fund established this past summer exclusively focused on the $100 billion aging and home care market, has invested an undisclosed sum into San Francisco startup CareLinx, an online network that connects caregivers and home care services.
The CareLinx investment, the amount of which was not disclosed, is the third investment by the fund since its formation in June. In October, the fund invested an undisclosed sum into Nashville, Tenn.-based Civic Health, founded in 2010.
CareLinx, according to the fund, “enables those in need of caregivers to efficiently find, hire and manage caregivers.” It deploys a team of dedicated care planners that help families and those in need of quality home care navigate the process of finding a caregiver that matches their specific needs and budget.
Customers can browse online caregiver profiles to find the one that best meets their needs. Every caregiver has been rigorously screened and background checked, according to the fund. Customers can use CareLinx’s secure communication tools to schedule an interview and pay online. It also won a consumer’s choice award from AARP two years ago.
CareLinx was founded by CEO Sherwin Sheik, a former hedge fund manager. The company says it has over 20,000 caregivers within its network across the U.S. It earns a 15 percent service fee on all invoices paid through its platform, similar to Airbnb and Uber.
The aging and home care market is expected to play a significant role in the delivery of healthcare, and numerous startups are jumping into the space, among them Boston-based Care at Hand.
The fund was established as a 50-50 joint venture between Chicago-based Ziegler and Ohio-based Link-age Ventures
