Funding will support accelerating adoption of communication solutions that save countless hours for care providers while promoting trust and transparency among patients, residents and families.
CINCINNATI--Carefeed—a leading provider of simple, secure, cloud-based and HIPAA-compliant digital communication solutions—closed a $3 million financing round led by Reformation Partners with participation from existing investors Allos Ventures and M25. The investment enables Carefeed to accelerate adoption of its platform by skilled nursing and senior living communities across the United States and Canada, broaden its suite of solutions, and expand into other patient care settings.
Carefeed’s solutions—which are already being used by some of the largest senior living companies in the U.S.—offer significant timesaving and cost-saving features to support effective communications while also helping communities stay compliant with state and federal regulations that govern the distribution and accessibility of information. Carefeed automates antiquated processes like paper admission agreements and calendars, phone-based safety announcements, care conference schedules and more, and seamlessly distributes them via text, email, and voice. Additionally, Carefeed’s new family portal provides a one-stop hub for family members to access information specific to their loved ones in addition to important community-wide updates.
“This investment supports our goal to make life easier for care communities and to help them instill trust with their patients, residents and families through improved communications,” said Terry Wall, founder and CEO of Carefeed. “People working in senior care and other care provider settings have been under enormous pressure—especially because of COVID-19—and we are constantly developing and enhancing solutions to support their efforts to deliver high-quality care.”
“We are proud to invest in Carefeed, which is at the forefront of the software revolution in long-term care settings,” said Jim Hao, founder and managing partner at Reformation Partners.
“This is our second investment in Carefeed and we’re excited to see the strong demand for its comprehensive but easy-to-use communication solutions in senior care, and the introduction of its transformational solutions in other patient care settings,” said John McIlwraith, managing director of Allos.
For more information, visit www.carefeed.com.
Carefeed is the central place for seamless communication and engagement. Its HIPAA-secure, SaaS platform digitizes and enables simplified distribution of information and materials senior care and other care providers share with patients, residents, families, staff, referral sources and others.
Reformation Partners is an early growth equity firm. The firm invests in the best capital efficient enterprise and consumer companies at their point of breakout and supports their growth through profitability, future financing rounds, and exit. The firm was founded in 2019 and has made 11 portfolio investments to date across the United States.
Allos Ventures invests in seed and early-stage technology companies based in the Midwest and beyond. Investments focus on B2B software companies, augmenting the capital provided by startup investors. In addition to the capital Allos provides, portfolio companies benefit from the extensive operating and business-building experience of the firm’s team, who make themselves available as needed to support each portfolio company’s growth.
M25 is an early-stage venture firm based in Chicago, investing solely in tech startups headquartered in the Midwest. Since launching in 2015, M25 has become the most active investor in the region, quickly becoming the preferred seed investor for the next generation of Midwest unicorns. Portfolio companies include Kin Insurance, Loop Returns, Astronomer, SummerSalt, SteadyMD, Branch, MVMNT and more.