Carefeed Secures Venture Funding to Expand Digital Communication Solutions for Senior Care Facilities
CINCINNATI--(BUSINESS WIRE)--Carefeed, a leading provider of digital communication solutions to senior care facilities, announced today that it closed a venture financing round. The round was led by Allos Ventures, with participation by M25, and will enable Carefeed to expand its footprint in skilled nursing and senior living communities across the United States and Canada, enhance its digital communication platform, and broaden its offerings into other patient care settings.
“Senior care providers are under extraordinary pressure—especially in a post-COVID-19 environment—and effective communications through a fast, reliable, secure, and user-friendly platform is critical in building trust and giving peace of mind and assurance to residents, families, staff and others”
Over the past year, senior care communities learned the vital role a modern digital communication platform can play in sharing and documenting critical updates with residents, families, staff, and referral sources. Many communities discovered that their traditional communications systems and processes were inadequate, inefficient, and often non-compliant with state and federal regulations.
Carefeed's HIPAA secure SaaS platform digitizes the information and materials that senior communities share with their various stakeholders. The platform automates antiquated and time-consuming processes by using text, email, voice, and video to seamlessly distribute critical updates and announcements, enable e-signature of admission agreements, allow staff-to-resident/family and staff-to-staff communication, schedule care conferences and offsite doctors’ appointments, and much more.
“Senior care providers are under extraordinary pressure—especially in a post-COVID-19 environment—and effective communications through a fast, reliable, secure, and user-friendly platform is critical in building trust and giving peace of mind and assurance to residents, families, staff and others,” said Terry Wall, founder and CEO of Carefeed.
“Our investment in Carefeed aligns with our mission to invest in industry-changing businesses that are addressing significant sources of pain for their customers. We are excited to join forces with Terry and Carefeed and to help the company expand its ability to positively impact senior care,” said John McIlwraith, managing director of Allos.
“It's not every day you see a company growing double-digits revenue each month in a rapidly evolving large market, and one that knows the ins and outs of the industry so well. But then again, Carefeed isn't an 'everyday' business — it's the future,” said Victor Gutwein, founder and managing partner of M25.
“Carefeed has transformed the way our industry can communicate,” said Nicole Gonzales of NewGen Health. “Their solution has saved our staff countless hours! Carefeed is always enhancing features to make our workflow easier, we cannot wait to see what is next with this announcement.”
Carefeed’s HIPAA secure SaaS platform digitizes and enables simplified distribution of any information and materials senior communities would like to share with their residents, residents’ families, staff, or referral sources. The platform 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. For more information, visit carefeed.com.
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. For more information, visit allosventures.com.
M25 is a Chicago- and Indianapolis-based Venture Capital firm investing in Pre-Seed and Seed tech startups headquartered in the Midwest. They are the most active early-stage firm in the region with 100+ portfolio companies across various industries. For more information, visit M25vc.com or follow on Twitter @M25vc.
Ways Carefeed Can help: Senior Care Communication Platform, Nursing Home HIPAA Secure Text, Skilled Nursing Facility HIPAA Compliant admission agreement eSignatures, Senior Community Family Portal.