Nevvon has secured a strategic investment from BVP Forge as the home care compliance and training platform expands after reaching more than 650,000 caregivers and 57 million completed lessons.
BVP Forge is the private equity arm of Bessemer Venture Partners focused on growth-oriented, self-sustaining technology and B2B services businesses.
Nevvon plans to use the investment to expand its platform, deepen relationships with payors and self-directed care programs and reach more caregivers across the U.S.
The company’s existing management team will continue leading the business, while its relationships with agencies, caregivers and channel partners will remain unchanged.
Nevvon’s compliance and audit framework spans all 50 states, and its caregiver network has grown by more than 300% during the past five years.
Alongside the investment, Nevvon launched TrainOnce, a new capability designed to make completed compliance training portable as caregivers move among employers.
Traditionally, a caregiver changing agencies or working for multiple agencies may be required to repeat training previously completed.
TrainOnce allows qualifying compliance training completed through Nevvon to carry across participating agencies while maintaining applicable compliance requirements.
Nevvon sees the product as a way to reduce unpaid training hours for caregivers, decrease duplicate onboarding work for agencies and enable caregivers to begin providing services sooner.
The company integrates with systems home care organizations already use for scheduling, billing and compliance.
Its curriculum is also designed to track regulatory requirements as they change across individual states.
BVP Forge manages approximately $2.3 billion across a concentrated portfolio of technology and B2B services companies.
KEY QUOTES:
“Forge understood our mission from the first conversation: better training, better compliance, better care. That remains our focus.”
James Cohen, CEO Of Nevvon
“We were drawn to a company that has an exceptional reputation as the most innovative and AI-forward compliance infrastructure for the homecare industry, with a roadmap to extend its presence across the continuum of care.”
Navid Oreizy, Partner At BVP Forge
