HONOR™ Raises $42 Million in Series B Funding Round
Thrive Capital Leads Investment in Home-Care Solution Modernizing Care For Older Adults
Aug 08, 2016, 06:00 ET
SAN FRANCISCO, Aug. 8, 2016 /PRNewswire/ -- Honor™ (www.JoinHonor.com), one of the fastest growing companies offering high-quality home care for older adults, announced today it has raised $42 million in Series B funding led by Thrive Capital. Additional investors include 8VC, Andreessen Horowitz, and Syno Capital.
After announcing $20 million in funding in April of 2015, Honor launched service in the San Francisco Bay Area and Los Angeles. Honor has developed a model that allows the company to provide high-quality care - while driving down costs for families and driving up wages for caregivers through W2 employment. Honor has also partnered with the best and brightest industry advisors and organizations, including the American Cancer Society and National Parkinson Foundation.
This new $42 million investment brings the total raised to date to $62 million. And with an exceptional team of supporters, Honor can accelerate product development and enhance go-to-market growth strategy.
"This investment means Honor can deliver high-quality, personalized home care to more people. And, we can continue to enhance our smart, easy-to-use technology that makes it fast and effective for families to receive and manage quality care," said Honor CEO and Co-Founder Seth Sternberg. "Modernizing home care does not just help our loved ones, it elevates caregivers as well. Now, more women and men can benefit from jobs that help them grow and care for their own families while they improve the lives of others."
"Honor is poised to transform the home care industry with its unique business model and unparalleled technology. Thrive Capital is proud to back this experienced team that is focused on bringing quality care to aging adults with a clear understanding of the needs of people and the challenging healthcare landscape," said Joshua Kushner, Founder of Thrive Capital.
About Honor
San Francisco-based Honor, launched in spring 2015, is the home-care solution that helps older adults continue to live and age in their own homes with greater joy, comfort, and grace. Honor currently operates in the San Francisco Bay Area and Los Angeles and combines the best care professionals in the industry with proprietary app technology that modernizes the entire home-care experience, making it more flexible and accessible for family caregivers and their aging loved ones. For more information, please visit www.JoinHonor.com.
Honor is hiring great talent including Care Pros, Care Operations managers, engineers, salespeople, etc.
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SOURCE Honor