NEW YORK--(BUSINESS WIRE)--Hometeam, a new approach to home care which brings more independence, joy and vibrancy to older adults — and peace of mind to families, today announced it has secured $27.5M in a Series B funding round. Oak HC/FT, a leading venture-growth equity fund investing in Healthcare Services technology companies, joins existing investors Lux Capital, IA Ventures and Recruit Strategic Partners in this funding round which will directly enable the company to accelerate its medical and technology development.
The funding comes as Hometeam continues to experience ever-increasing growth in New York, New Jersey and Philadelphia. In the last eighteen months relationships between older adults and care givers have increased 20% month on month -- and with plans to expand into several new states and major cities in the coming months, further growth is expected to continue.
“Hometeam is about creating beautiful days for older adults while giving family members peace of mind,” said Josh Bruno, Founder and CEO of Hometeam. “The marriage of technology and high quality in-home care will revolutionize our industry and 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.”
Annie Lamont, Managing Partner at Oak HC/FT, said, “In what is traditionally a fragmented marketplace, Hometeam has the technology to intelligently match older adults with experienced caregivers, treating caregivers as valued employees and extended family. Hometeam has already had a tremendous impact on the healthcare industry and we are thrilled to partner with Josh and his team to continue delivering tailored and personalized care for the senior community.”
"Hometeam is remaking how we all care for our parents and grandparents,” said Adam Goulburn, a partner at Lux Capital. “Nobody should ever again allow sad, cold, impersonal, unloving home care through the door. We funded Hometeam because they are on a passionate mission to fix this, to bring beautiful days, everyday, to the people we love. And because so many more aging parents will need and deserve so much more in the years ahead. Hometeam has the best team, technology and plans to stand and deliver what's needed now."
“We are 100 percent invested in building out Hometeam in our current markets and expanding to other locations,” Bruno added. “We have world class investors backing us and they know we will transform the way we care for our older adults.”
Headquartered in New York and with offices in three states, Hometeam transforms the in-home care and aging experience by providing elderly clients with personalized care planning, expert caregiver matching, custom mobile technology, and proactive case management to improve older adults’ health and well-being while giving their families peace of mind. For more information, visit hometeamcare.com.
About Oak HC/FT
Oak HC/FT (http://oakhcft.com/) is the premier venture growth-equity fund investing in Healthcare Information & Services (“HC”) and Financial Services Technology (“FT”). We are focused on driving transformation in these industries by providing entrepreneurs and companies with strategic counsel, board-level participation, business plan execution and access to our extensive network of industry leaders.
About Lux Capital:
Lux Capital is a venture firm based in New York City and Silicon Valley investing in counter-conventional, seed and early stage science and technology ventures. The firm manages $700 million in assets across four funds. For more information please see www.luxcapital.com.