Health

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



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 buyers Allos Ventures and M25.

The funding accelerates Carefeed’s growth of its SaaS platform to expert nursing and senior dwelling 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 knowledge and supplies senior healthcare suppliers and different care suppliers share with sufferers, residents, households, employees, referral sources and others, in line with Carefeed.

Its communication know-how automates paper processes akin to admission agreements and calendars, phone-based security bulletins, and care convention schedules and distributes them by way of 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 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 supplied by startup buyers. 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 stated it has turn out to be essentially the most energetic investor within the area.

WHY THIS MATTERS

Carefeed’s platform is being utilized by a number of the largest senior dwelling firms in the US. Its platform presents time- and cost-saving options to help efficient communications whereas serving to communities keep compliant with the state and federal rules that govern the distribution and accessibility of knowledge, Carefeed stated. 

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

THE LARGER TREND

Communication with household was particularly necessary through the COVID-19 pandemic when members of the family couldn’t go to with family members in particular person.

Terry Wall, founder and CEO of Carefeed stated, “Individuals working in senior care and different care supplier settings have been beneath monumental stress – particularly due to COVID-19 – and we’re continuously creating and enhancing options to help their efforts to ship high-quality care.”

Twitter: @SusanJMorse
E mail the author: [email protected]

 



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