Company will use funds to accelerate top-line and expand roll-out of innovative B2B platform, ShiftMed.
MCLEAN, Va – After tripling revenue over the past two years and expanding its caregiver network by over six hundred percent, HomeCare.com announced it has closed a new $10 million round led by Blue Heron Capital and participation from 3TS Capital Partners and Motley Fool Ventures. With over 2.3 million caregivers in its network, the company is the largest platform in the US used by consumers and healthcare providers to find experienced caregivers. HomeCare.com operates in more than 10,000 zip codes allowing families to engage caregivers for in-home care. ShiftMed, the company’s B2B product, provides qualified, complaint workers for healthcare institutions on-demand.
In addition to continuing to drive overall revenue growth, the capital will be used to roll-out ShiftMed, HomeCare.com’s innovative, on-demand healthcare staffing platform. ShiftMed digitally credentials healthcare workers and uses artificial intelligence to quickly match them to healthcare providers looking to fill open shifts. Over 300,000 nursing professionals are active on ShiftMed, which already works with the largest U.S. hospital networks, skilled nursing, assisted living, and home health providers.
“ShiftMed gives healthcare providers a more efficient solution to one of their most critical challenges—on-demand access to quality nursing professionals. Our platform also provides the digital credentialing systems healthcare organizations need to remain compliant with regulations,” said Todd Walrath, CEO of HomeCare.com. “Just as importantly, we improve the lives of hundreds of thousands of healthcare professionals by allowing them to do the work they love, when and where they want.”
“America is in the midst of a nationwide caregiver shortage that will accelerate as Baby Boomers retire,” added Tom Benedetti, a Partner at Blue Heron Capital. “Todd and his team have built a uniquely powerful and intelligent platform to help address this crisis for families and healthcare providers. We are excited to be their partner.”
As part of the round, Blue Heron operating advisor, Mike Fraizer, will join the HomeCare.com Board of Directors. Mike most recently served as the CEO of Genworth and brings a wealth of experience and deep industry knowledge in the long-term care arena.
HomeCare.com is the leading marketplace for healthcare professionals in the US. The rapidly growing company is revolutionizing the caregiving industry by providing an online platform that connects families and healthcare organizations with the broadest network of experienced on-demand workers. The company is based in McLean, VA.
About Blue Heron Capital
Blue Heron Capital is an operationally focused growth equity firm investing in healthcare and technology-enabled business service companies. Blue Heron supports portfolio companies with a team of industry experts, including C-level executives and successful entrepreneurs with decades of experience building and managing vibrant businesses.