- TCARE is a St. Louis-based company that supports caregivers. These are the details.
TCARE is a St. Louis-based company that supports caregivers. And the company technology is an evidence-based family caregiver support solution that utilizes precision targeting and mapping of resources to reduce family caregiver burnout. And TCARE’s technology comprises of intelligent machine learning models, data prediction models, and analytics that pull Social Determinants of Health (SDOH) data creating innovative LTSS and LTC population health risk management solutions.
Recently TCARE raised a round of funding:
Recent funding round: Oversubscribed Series A funding
Recent funding amount: $17 million
Total funding raised: $20 million
Educational link: Spun out of research from the University of Wisconsin-Milwaukee
Investors: Led by American Family Ventures. And the financing also included several new investors like TCARE, including Ziegler Link-age Funds, Unum Ventures, Inception Health, Sompo Holdings and Plug & Play Ventures. The returning investors in this round include SixThirty Ventures, Aflac Ventures, Blu Ventures, 25madison, and Connetic Ventures.
KEY QUOTES:
“As we’ve been watching the caregiver support landscape evolve over the last few years, TCARE stood out from others for several reasons. TCARE has 15+ years of longitudinal data and outcomes on caregivers that identifies their risk factors to burnout and suggests proven interventions. Their ability to tailor an individual caregiver care plan and measure the cost savings of those interventions is impactful. Furthermore, TCARE’s growth has proven their business model alignment with enterprise clients, and we’re impressed with their ability to execute with several Fortune 100 companies.”
– Brittany Clements, Managing Director at American Family Ventures
“TCARE is a mission driven organization led by a talented founding team, that has evolved from its excellent clinical foundation to a successful business with customers across multiple segments and industries. I have had the privilege of being part of this journey since 2018 as an independent board member and look forward to an even more amazing future for the company.”
– Bikram Bakshi, former CEO of Optum Govt and QSSI (the organization that led the successful turnaround of healthcare.gov)
“This growth capital will help us expand our offerings with our enterprise customers as we go through this important inflection point for the company. TCARE’s value-based approach has allowed us to both expand our footprint with current customers as well as bring on new customers in previously untapped markets. I am extremely proud of TCARE’s exponential growth as a result of the TCARE team’s efforts.”
– Ali Ahmadi, CEO of TCARE
“At the Ziegler Link-age Funds we are passionate about care and quality of life for older adults, and whether a person resides in a senior living and care community or their home, caregivers are one of the biggest differentiators. Following the pandemic, family caregivers have been under enormous pressure, as have caregivers in senior living and care organizations. Not only do we believe in TCARE’s mission to support family caregivers, but we are also excited to help TCARE explore whether their model could be used to identify and prevent burnout among caregivers in congregate settings.”
– John Hopper, Chief Investment Officer of the Ziegler Link-age Funds
