Cariloop, a Richardson, TX-based provider of a caregiver support platform, raised $20M in Series C funding.
The round was led by ABS Capital with participation from existing investors Noro-Moseley Partners, KCRise Fund, Revolution’s Rise of the Rest Seed Fund, and Patterson Thoma Family Office.
The company intends to use the funds to expand its market reach with employers and caregivers as well as a number of key investments in its digital and concierge-level offerings.
Led by CEO Michael Walsh, Cariloop helps families manage their care needs by connecting them to an employer-sponsored, digitally-powered caregiver support platform. Experienced care coaches provide personalized guidance and professional support, while its digital platform offers resources for finding, booking, and paying for care, accessing information, and utilizing tools essential for caregiving. The solution aims to reduce stress and burnout for employees, driving increased productivity and reduced absenteeism for employers.
The company currently serves organizations like Procter and Gamble, KPMG, CAE, American Cancer Society, Arthur J. Gallagher, ASPCA, and Insperity.
Commenting on the news, Michael Walsh said: “The service we provide gives companies a way to support their working caregivers and drive employee wellbeing, productivity and retention. This investment will accelerate our efforts to deliver our innovative solution to more employers and ultimately position our platform as a fundamental benefit to the millions of working caregivers who need it most.”
FinSMEs
09/04/2024