Caregiver support platform Homethrive has raised $20 million in its latest funding round, led by Telus Global Ventures and 7wire Ventures. Alongside the funding news, Homethrive announced the appointment of Ismat Duckson to its board of directors. Duckson, currently the chief administrative officer at Kemper Corporation, has previously served in CHRO roles at organizations including Kemper, U.S. Bank, Sears Canada, Sam's Club (Walmart Enterprises), and Sprint Corporation.
Homethrive partners with employers, health plans, and individuals to provide resources, care navigation, and support for those caring for loved ones with disabilities. The platform also offers tools to help employees manage childcare, end-of-life care, and navigate complex issues like dementia care, Medicare, and chronic conditions. The newly secured funds will go toward expanding its platform, AI-driven tools, and partnerships with various payer populations.
"Over the past six years, we've built a platform that addresses one of the fastest-growing challenges in healthcare," said Dave Jacobs, cofounder and co-CEO of Homethrive. "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."
According to the U.S. Bureau of Labor Statistics, 14% of the U.S. population, or 37.1 million people, provide unpaid eldercare, with 59% being women. In 2022, Homethrive scored $20 million in Series B funding, which it said would be used to expand partnerships with self-insured employers and insurance plans. Earlier this year, insurance brokerage, HR consulting, and financial services firm OneDigital partnered with Homethrive to provide the firm's employees with caregiver support while maintaining productivity at work.
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