Carefeed earns $3 million to expand platform in aged care facilities
Carefeed, a provider of HIPAA-compliant and cloud-based digital media solutions, closed a $3 million funding round led by Reform Partners with participation from existing investors. are Allos Ventures and M25.
This investment spurs Carefeed to expand its SaaS platform to senior and skilled nursing communities, as well as other patient care facilities across the United States and Canada.
Its HIPAA secure SaaS platform digitizes and enables simplified distribution of information and documents that senior healthcare providers and other care providers share with patients, residents, families, employees, referrals and others, according to Carefeed.
Its communication technology automates paperwork processes such as admission agreements and calendars, secure telephone announcements, caregiving conference schedules, and distributes them via text, email, and voice.
Investors include Reform Partners, an early growth holding company that invests in capital-efficient consumer and corporate companies at the time of their breakthrough, while supporting their growth. through profitability, future funding rounds, and exits.
Allos Ventures invests in new and early-stage technology companies, with a focus on B2B software companies and raised capital provided by startup investors. This is Allos’ second investment in Carefeed, according to John McIlwraith, chief executive officer of Allos.
M25 is an early-stage venture firm based in Chicago that only invests in Midwest-headquartered tech startups. Since its launch in 2015, M25 says it has become the most active investor in the region.
WHY IS THIS PROBLEM?
Carefeed’s platform is being used by some of the largest long-lived companies in the United States. Its platform provides time- and cost-saving features to facilitate effective communication while helping communities comply with state and federal regulations governing the distribution and accessibility of information. news, Carefeed said.
Additionally, Carefeed’s new family portal provides a one-stop hub for family members to access information specific to their loved ones in addition to important community-wide updates.
TREND TO BIGGER
Communication with family is especially important during the COVID-19 pandemic when family members are unable to visit loved ones in person.
Terry Wall, Founder and CEO of Carefeed said, “Those working in aged care and other care providers have come under tremendous pressure – especially is due to COVID-19 – and we are constantly developing and enhancing solutions to support their efforts to deliver highly effective quality care. “
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