Homethrive, a leading provider of technology-enabled caregiving solutions, announced the closing of its latest funding round, raising over $20 million and appointing Ismat Duckson Aziz to its Board of Directors. TELUS Global Ventures and 7Wire Ventures led the funding round, which also included participation from Pitango HealthTech, Human Capital, Outcomes Collective Growth Capital, Allianz, The K Fund, and other family offices.
Homethrive has grown fourfold since its last funding round in 2022, fueled by the increasing demand among employers and health plans for comprehensive caregiving solutions.
Homethrive will use the funding to expand its end-to-end caregiving platform, focusing on personalized caregiving support and scaling its AI-driven care navigation and recommendations. And this funding will also enable Homethrive to bolster its offerings for various payer populations and enhance its digital tools to increase engagement further.
By supporting working caregivers around the clock, Homethrive helps employers reduce turnover by 80% and saves working caregivers an average of 16.4+ hours per month. Plus, it has shown a 17% increase in plan retention on the payor side. This enhances caregiver productivity and well-being and creates significant savings for employers by reducing burnout and improving employee retention.
Homethrive also announced the addition of Ismat Duckson Aziz to its board of directors. And since 2020, Duckson Aziz has been the Chief Administrative Officer at Kemper Corporation. And Ismat brings over 25 years of human capital expertise and has previously held CHRO roles at Kemper Corporation, U.S. Bank, Sprint Corporation, Sam’s Club (Walmart Enterprises), and Sears Canada. Plus, Ismat is the Academic Program Advisor for CHRO programs at Duke Executive Education, Fuqua School of Business, Duke University. Her leadership and expertise will be key in driving Homethrive’s mission forward.
With momentum in the caregiving space, strong investor backing, and the addition of Ismat Duckson Aziz to its board, Homethrive is well-positioned to continue leading the transformation of caregiving, providing much-needed support to families, employees, and employers alike.
KEY QUOTES:
“Over the past six years, we’ve built a platform that addresses one of the fastest-growing challenges in healthcare. We’re seeing tremendous momentum in the caregiving space, as more HR leaders and insurance plans prioritize caregiving support for their employees and members. Our platform delivers scalable solutions to the wide range of problems caregivers face today.”
– Dave Jacobs, co-founder and Co-CEO of Homethrive
“We know caregiving doesn’t just happen from 9 to 5. That’s why we’ve invested heavily in enhancing our digital platform, which now provides AI-powered care navigation and guidance, while offering a seamless end-to-end offering, giving caregivers the support they need anytime, anywhere.”
“Ismat’s global experience in Human Capital, Technology, AI/Digital, and large scale transformations will be invaluable as we continue to scale our solutions.”
– David Greenberg, co-founder and Co-CEO
“We’ve been impressed by the significant traction Homethrive has achieved. Their unique platform is empowering caregivers, providing them much-needed support, and allowing their loved ones to age in place while adding value to employers and payers alike. We’re excited to invest in Homethrive to accelerate their growth and establish their presence in Canada.”
– Terry Doyle, Managing Partner at TELUS Global Ventures
