Home Care Company Expansion Raises $23 Million

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The home care organization, HomeHero, raised $23 million and will be expanding to the San Francisco Bay Area The San Francisco News
The home care organization, HomeHero, raised $23 million and will be expanding to the San Francisco Bay Area The San Francisco News

SAN FRANCISCO—The senior home care company, HomeHero, is expanding its base to the San Francisco Bay Area after raising a total of $23 million. The organization recently raised $20 million on June 30 through a Series A funding venture, with support from Launch Fund, Tencent Holdings, The Social+Capital Partnership, and Graham Holdings Company. Prior to their June funding, the company had raised $3 million in seed funding from Science, Inc. and The Social+Capital Partnership.

HomeHero was founded in 2013 by co-founders Kyle Hill, 28, and Mike Townsend, 27, when Hill discovered that his 95-year-old grandmother’s caregiver had been abusing and stealing from her. After hours of screening for caregivers, Hill’s family stated they were exhausted by the process of searching for unqualified care-providers; which prompted them to take matters into their own hands.

HomeHero took flight when Townsend and Hill formed a team of health care professionals, artists, and engineers to collaborate on a strategy to develop a way for families to find quality care for senior citizens living in their homes. 

Their founding principles remain faithful to the idea of providing trustworthy and affordable access to home care services for aging senior citizens. Their site features video profiles of prospective caregivers for clientele to choose from. Each in-home worker provides care-taking services ranging from meal preparation, help with exercise, to personal care needs. HomeHero charges $180 per day or $18 per hour for these non-medical services.

Within two years of opening, the startup was received with overwhelming success, and became one of the highest-rated health care-based startups in the the country. HomeHero is based in Santa Monica, its online marketplace has provided a broad range of accessible care to Los Angeles and San Diego since 2014. 

The company has raised enough money to expand, making San Francisco it’s third base within one year of operation, and has created a database of over 1,500 care givers who keep 85 percent of the base fee that clients pay. The company claims to have provided over one million hours of care services and expects to expand rapidly to other major metropolitan cities in the coming years.