For regional expansion, Homage received US $30 M in Series C led by Sheares Healthcare
Homage, a provider of on-demand caregiving and health services located in Singapore, said that it has raised $30 million in Series C funding.
Sheares Healthcare Group, which is controlled by Temasek, led the round. East Ventures (Growth), HealthXCapital, SeedPlus, Trihill Capital, and Alternate Ventures, as well as current investors East Ventures (Growth), HealthXCapital, SeedPlus, Trihill Capital, and Alternate Ventures, all participated.
Homage has already raised more than US$45 million in total investment. It got an unknown sum in strategic investment from Japan’s Infocom a year ago. EV Growth led a previously unannounced Series B round of investment.
The additional funding will be used to drive regional expansion and scale the company’s platform with local and regional partners.
“We will utilise this funding to further invest into our technology platform and deepen our integration with the aged and disability care payor and provider infrastructure across the region,” founder and CEO Gillian Tee said.
Homage is a caregiving and health service that blends technology with handpicked professional caregivers, therapists, and specialists to deliver holistic care and wellbeing to older individuals and their families, no matter where they are.
Homage provides core services to government agencies, federal care plans, health organizations, and businesses in Singapore, Malaysia, Australia, and Japan, with over 6,000 certified care workers.
In 2021, the startup claims to have seen tremendous growth. Outside of Singapore, regional business increased by more than 600% year over year. In the last year, the company’s sales has more than quadrupled.
“Our mission is to make everyday care for older adults and the chronic-ill personalised, accessible as well as cost-effective. By combining high touch with high tech, we have proven that we improve the lives, health, and wellness outcomes of our care recipients and families at scale.”
It has formed alliances with commercial and public hospitals, as well as primary and community care providers, to close the gap in the end-to-end care recipient experience, integrating the payor ecosystem across the hospital, community, and home care.
“Homage’s mission is very aligned to the Sheares vision of building integrated healthcare ecosystems to close care gaps and deliver innovative models of healthcare services. This will ultimately help to contain healthcare costs,” said Khoo Ee Ping, Chief Corporate Development Officer of Sheares Healthcare, who will be joining Homage’s board of directors.
Willson Cuaca, co-founder and Managing Partner of East Ventures, said, “Supporting aged and disability care gives us a chance to be impactful in society. Aged and disability care is for the patients and the people and families surrounding them. As we are still fighting the COVID-19 pandemic and moving to a new normal, a different care approach, skills, and protocol become crucial, and the Homage team comes timely to provide a holistic solution.”
In Asia, the market for age-tech and silver economies is expected to be valued at US $6.2 trillion.
