Hometeam continues to build momentum for its aging in place approach to senior care, an area that will continue to be a big theme in 2016. It has raised $27.5 million in a Series B round led by Oak HC/FT. The fundraise is designed to speed up product development.
Lux Capital, IA Ventures, and Recruit Strategic Partners, which took part in the Series A round last year, also participated. At that time, the company raised $11 million to add 15 offices in nine states. Currently, it has offices in three states: New York, Pennsylvania and New Jersey.
Josh Bruno, founder and CEO of Hometeam, said in a statement: “This new round of funding will enable us to build out our platform and offer truly unique and specialized care to older adults in other locations.”
Transforming the OR: CEO Reveals Game-Changing AI Tech for Better Efficiency
How Apella leverages technology to increase OR efficiency.
Hometeam compares its software to a matchmaking service. It matches families with experienced caregivers and helps caregivers plan days to improve the quality of life of older adults.
Caregiver startups have been a popular area for digital health startups. Honor, another caregiver service, launched an on-demand service last year that lets families book a caregiver for specific needs for small periods of time when family members need a break or have other commitments. Some others include Cariloop, Room2Care, and UnaliWear.
The AARP Innovation@50+ is also making a big push for technology to help caregivers support seniors as part of an expansion of Project Catalyst. The Series B round for Hometeam marks the 13th investment for Oak HC/FT since its launch 18 months ago. The fund invests in health tech and financial tech.
Photo: Flickr