Carefeed secures $3 million to expand platform in senior care settings

by | Aug 5, 2022 | Health Blog | 0 comments

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Carefeed, a supplier of cloud-based and HIPAA-compliant digital communication options, closed a $3 million financing spherical led by Reformation Companions with participation from current traders Allos Ventures and M25.

The funding accelerates Carefeed’s enlargement of its SaaS platform to expert nursing and senior residing communities, in addition to different affected person care settings throughout the US and Canada. 

Its HIPAA-secure SaaS platform digitizes and allows simplified distribution of data and supplies senior healthcare suppliers and different care suppliers share with sufferers, residents, households, workers, referral sources and others, in line with Carefeed.

Its communication know-how automates paper processes resembling admission agreements and calendars, phone-based security bulletins, and care convention schedules and distributes them through textual content, electronic mail and voice. 

Traders embrace Reformation Companions, an early development fairness agency that invests in capital-efficient enterprise and shopper firms at their level of breakout, and helps their development by means of profitability, future financing rounds and exit. 

Allos Ventures invests in seed and early-stage know-how firms, specializing in B2B software program firms and augmenting the capital offered by startup traders. That is Allos’s second funding in Carefeed, in line with John McIlwraith, managing director of Allos.

M25 is an early-stage enterprise agency based mostly in Chicago that invests solely in tech startups headquartered within the Midwest. Since launching in 2015, M25 mentioned it has turn out to be essentially the most energetic investor within the area.

WHY THIS MATTERS

Carefeed’s platform is being utilized by among the largest senior residing firms in the US. Its platform provides time- and cost-saving options to help efficient communications whereas serving to communities keep compliant with the state and federal laws that govern the distribution and accessibility of data, Carefeed mentioned. 

Moreover, Carefeed’s new household portal gives a one-stop hub for relations to entry info particular to their family members along with necessary community-wide updates.

THE LARGER TREND

Communication with household was particularly necessary in the course of the COVID-19 pandemic when relations couldn’t go to with family members in individual.

Terry Wall, founder and CEO of Carefeed mentioned, “Folks working in senior care and different care supplier settings have been underneath huge strain – particularly due to COVID-19 – and we’re consistently creating and enhancing options to help their efforts to ship high-quality care.”

Twitter: @SusanJMorse
Electronic mail the author: SMorse@himss.org

 

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