An unprecedented move in private pay home care, Battery Ventures has led an investment of $60 million in ClearCare, a software platform for private duty home care. The platform allows home care agencies to increase efficiency by helping attract and retain customers, schedule and deliver care and optimize back office processes. This major investment is an indication that private pay home care is an industry to watch.
Read the press release here: ClearCare Announces $60 Million Investment Led by Battery Ventures to Fuel Growth
Another harbinger of investment focus in private pay home care is the cumulative investment of $120 million over the past 36 months in Honor, Home Team and homecare.com, companies that match families with home caregivers. Private pay home care was beginning to received attention from investors just before the Great Recession, when investments paused. We expect to see continued consolidation and investment in the coming months, since typically, capital follows capital.