With an aging population and out-of-control healthcare costs, home care has become seen as a bright spot — part of the solution to the problem.
That’s part of the reason companies like ClearCare are finding funding these days.
ClearCare has a front- and back-office solution for private duty home care agencies that the company delivers as a software-as-a-service. The web and mobile platform enables paperless scheduling, integrated telephony, two-way caregiver messaging, and marketing functions.
ClearCare’s new $11 million funding round is led by venture capital firm Bessemer Venture Partners (BVP), with Cambia Health Solutions also participating. Existing investors Voyager Capital, Qualcomm Ventures, and Harbor Pacific Capital also contributed.
With the $4.5 million infusion ClearCare got from Qualcomm, Voyager, and Harbor Pacific in 2012, its funding total rises to $15.5 million.
The new money will be used for product development, ClearCare says.
ClearCare already serves more than 1,300 home care agencies, including three of the top five national franchises.
“Home care is the lowest-cost institutional provider of care serving the highest-cost patient population,” ClearCare CEO Geoff Nudd said in a statement. “We believe that the home care industry has a tremendous role in solving the healthcare challenges of our time.”