Homethrive Raises $20M in Latest Funding Round Led by TELUS Global Ventures and 7wireVentures

Ismat Duckson Aziz, Chief Administrative Officer at Kemper Corporation, Joins the Board

CHICAGO, Nov. 14, 2024 /PRNewswire/ -- Homethrive, the leading provider of technology-enabled caregiving solutions, today announced the successful close of its latest funding round, raising over $20 million and appointing Ismat Duckson Aziz to its Board of Directors. TELUS Global Ventures and 7Wire Ventures led the funding round, with participation from Pitango HealthTech, Human Capital, Outcomes Collective Growth Capital, Allianz, The K Fund, and other family offices. Homethrive has grown by 4x since its last funding round in 2022, fueled by the increasing demand for comprehensive caregiving solutions among employers and health plans. 

Homethrive will use the capital to expand its end-to-end caregiving platform, focusing on personalized caregiving support and scaling its AI-driven care navigation and recommendations. This funding will also allow Homethrive to bolster its offerings for various payer populations and enhance its digital tools to further increase engagement.

"Over the past six years, we've built a platform that addresses one of the fastest-growing challenges in healthcare," said Dave Jacobs, co-founder and Co-CEO of Homethrive. "We're seeing tremendous momentum in the caregiving space, as more HR leaders and insurance plans prioritize caregiving support for their employees and members. Our platform delivers scalable solutions to the wide range of problems caregivers face today."

A major factor in Homethrive's growth is its ability to serve organizations with an industry-leading 8.4% utilization rate—a testament to the platform's effectiveness. David Greenberg, co-founder and Co-CEO, noted, "We know caregiving doesn't just happen from 9 to 5. That's why we've invested heavily in enhancing our digital platform, which now provides AI-powered care navigation and guidance, while offering a seamless end-to-end offering, giving caregivers the support they need anytime, anywhere."

By supporting working caregivers around the clock, Homethrive helps employers reduce turnover by 80%, saves working caregivers an average of 16.4+ hours per month, and has shown a 17% increase in plan retention on the payor side. This not only enhances caregiver productivity and well-being but also creates significant savings for employers by reducing burnout and improving employee retention.

"We've been impressed by the significant traction Homethrive has achieved," said Terry Doyle, Managing Partner at TELUS Global Ventures. "Their unique platform is empowering caregivers, providing them much-needed support, and allowing their loved ones to age in place while adding value to employers and payers alike. We're excited to invest in Homethrive to accelerate their growth and establish their presence in Canada."

Ismat Duckson Aziz named to board of directors

Homethrive also announced the addition of Ismat Duckson Aziz to its board of directors. Since 2020, Duckson Aziz has been the Chief Administrative Officer at Kemper Corporation. Ismat brings over 25 years of human capital expertise, and has previously held CHRO roles at Kemper Corporation, U.S. Bank, Sprint Corporation, Sam's Club (Walmart Enterprises), and Sears Canada. Ismat also serves as the Academic Program Advisor for CHRO programs at Duke Executive Education, Fuqua School of Business, Duke University. Her leadership and expertise will be key in driving Homethrive's mission forward. "Ismat's global experience in Human Capital, Technology, AI/Digital, and large scale transformations will be invaluable as we continue to scale our solutions," said Greenberg.

With significant momentum in the caregiving space, strong investor backing, and the addition of Ismat Duckson Aziz to its board, Homethrive is well-positioned to continue leading the transformation of caregiving, providing much-needed support to families, employees, and employers alike.

About Homethrive

Homethrive is transforming the way we care by offering working caregivers the support they need and deserve to balance work, life, and caregiving responsibilities. Through their high-touch/high-tech platform, caregivers can access 24/7 on-demand resources and live, one-on-one support from their team of expert Care Guides, social work professionals with years of caregiving experience. This highly personalized approach improves outcomes, lowers costs, and saves valuable time. Homethrive is available nationally and offered primarily as an employee benefit through employers and through select health plans.

SOURCE Homethrive