Care24, a Mumbai-based startup which is providing home healthcare services, has today announced that it has raised $4 million in its latest Series A round of funding from SAIF Partners.
Along with SAIF, the company’s existing investor, India Quotient has also participated in this round. India Quotient came into the picture when it invested in the company’s seed funding round around 3 months ago.
Vipin Pathak, Co-founder & CEO, Care24 said,
In India, the home healthcare category is seeing a focus now and an investment in developing the standard customer-centric healthcare service delivery system is a must for achieving quality services at scale. Our strength is an extremely strong execution team and right business model which can scale up while improving service quality which I feel is required to propel a brand in the home healthcare space.
Founded in 2014 by Vipin Pathak, Abhishek Tiwari and Garima Tripathi, Care24 ensures personal affordable healthcare assistance within the comforts of home. The company is offering skilled and experienced nurses, attendants, caregivers, physiotherapists, aayhas and wardboys.
It’s mission is to providing 100% background-verified caregivers, and thus, it ensures that their staff is qualified to address any kind of patient need. Rigorous interview and examination rounds thoroughly test a caregiver’s aptitude and subject knowledge before they are selected, claims company.
The current home care offerings from the startup includes post-discharge care, bedridden care, chronic pain care, physiotherapy, infant care, pre-natal and post-natal care, everyday medical nursing, long term care and assisted daily living.
The year-old company claims to have assisted more than 3,000 patients in their recovery process. It is now planning to execute its expansion plan, with the received capital, in two phases. Initially, it aims to consolidate its presence across the greater part of Mumbai, providing services with optimized process and maintaining high quality at scale.
Working with an aim to change the way healthcare is delivered in India making it all the more available, affordable and accessible, the company is planning on becoming the largest player in Mumbai in coming 3 months.
After that, in the second phase, it is planning to expand to more cities in India where it has already started market research and ground work.
Commenting about investment in care24, Mridul Arora, Principal, SAIF Partners said,
We have known the Care24 team for a while now and have been duly impressed by their pace and quality of execution. We believe that home healthcare market is a large opportunity waiting for organized plays such as Care24 who not just deliver better operations but bring to bear a new approach to the space including leveraging technology, thereby creating a superior value proposition. We are very excited to partner with the Care24 team as they continue their journey to make a meaningful impact in people’s lives while creating a robust business.