Homethrive secures $20m Series B for family caregiving support

Homethrive, which describes itself as a “caregiving benefit innovator”, has raised $20m in Series B funding in a round led by Human Capital.

The round also saw participation from Allianz and existing investors 7wireVentures and Pitango HealthTech.

Homethrive’s mission is to revolutionise support for unpaid family caregivers and their loved one. The company said the round will support its expansion with self-insured employers and insurance plans, as well as fuel its investment in its technology stack to create a more personalised experience enhanced by AI and machine learning.

Explaining the motivation behind its mission, Homethrive said this is a pivotal time as the US grapples with a crisis that was amplified by the Covid-19 pandemic but has been brewing for years – taking better care of families, particularly the elderly and those with special needs.

Homethrive is offered nationally to employers, insurers, and affinity groups.

Family caregiving impacts the majority of employees, Homethrive said. “Women are most negatively impacted, a staggering number of whom have exited the workforce. For those who remain in the workforce, the stress and worry are taking a huge mental toll, resulting in lost productivity for companies and reduced outcomes for insurers. It’s a problem that shows no signs of easing.”

Through its family caregiving platform, Dari, Homethrive blends self-service digital caregiving and health support with human interaction to effectively and efficiently right-size care to large populations.

Members have 24/7 access to one-of-a-kind resources tackling subjects such as Medicare, Alzheimer’s, long-term care, family care and dynamics, self-care, special needs support, and more. Members needing more one-on-one support are paired with a credentialed caregiving and aging expert, called a Care Guide, who stands side-by-side with them (virtually) to provide concierge-level guidance, advice, and care coordination tailored to their needs.

David Greenberg, co-founder and co-CEO of Homethrive, said the company has many large insurers as clients, as they recognise the importance of the ability to “age in place” to their members and their bottom lines.

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