StagePrivate Equity | Alive
About Five Good Friends
Five Good Friends offers a modern aged care platform that applies technology to the aged care sector by providing a platform to connect people requiring home care services with one or two regular helpers, while allowing the other family members to monitor care hours and services.
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Expert Collections containing Five Good Friends
Expert Collections are analyst-curated lists that highlight the companies you need to know in the most important technology spaces.
Five Good Friends is included in 2 Expert Collections, including Senior Care.
The digital health collection includes vendors developing software, platforms, sensor & robotic hardware, health data infrastructure, and tech-enabled services in healthcare. The list excludes pureplay pharma/biopharma, sequencing instruments, gene editing, and assistive tech.
Latest Five Good Friends News
Nov 29, 2021
Private equity firm EQT takes minority stake in Australia’s Five Good Friends Published on November 25, 2021 The Swedish global investment firm has acquired a minority stake in the Brisbane-based home care provider and its digital care management platform, Lookout, in a deal that values the group at $60 million, and cements its position as one of the most innovative care offerings across the village and aged care sectors. While the price paid remains commercial in confidence, EQT has taken a minority stake at a $60 million equity valuation. Founded in 2016 by ex-RetireAustralia CEO and current director at Aura Holdings Tim Russell, and his friends Simon Lockyer (pictured right) and Nathan Betteridge (pictured left) who started charity fundraising startup Everyday Hero, Five Good Friends has proved to be a quiet achiever, growing to over 20,000 home care visits a month. In 2018, the group raised another $5 million to expand its model and flagged a move into overseas markets. As we covered in the New Zealand issue of SATURDAY , Five Good Friends has formed a partnership with New Zealand’s fourth-largest retirement village operator, Arvida, to launch an outreach community from its Christchurch village, titled Arvida Good Friends at Park Lane, earlier this year. Technology-enabled care the future of ageing However, it is the development of Lookout that has attracted EQT’s attention. “We’ve been impressed by the innovative platform that the Five Good Friends and Lookout teams have developed and by the range of services they have been able to provide, including to some of Australia’s largest retirement living operators,” said EQT Australia director Sam Franklin. “We are firm believers in the opportunity for technology enabled care to significantly enhance the quality, transparency and oversight of care provided in today’s world.” Simon says Five Good Friends sees a combination of personal care and technology as the way forward for the ageing sectors, with Lookout based on data from half a million home care visits. “In no way does technology replace human care, but it can dramatically enrich the level of care a person receives,” he said. “The algorithm at the centre of Lookout’s remote monitoring system can now detect risks, ranging from cognition to falls. The platform is a SaaS (Software as a Service) solution allowing a provider to offer a modern, transparent, technology-enabled service.” EQT has been steadily increasing its healthcare investments in Australia since establishing an office in Sydney in February 2020, last week acquiring the majority of Icon Group, the country’s largest integrated cancer care provider, for $2.3 billion. EQT also acquired New Zealand’s third largest village operator Metlifecare last year after a protracted bid process saw an initial offer ended up in the courts after EQT withdrew their first bid, citing the impact of COVID-19 on the operator’s value.
Five Good Friends Frequently Asked Questions (FAQ)
When was Five Good Friends founded?
Five Good Friends was founded in 2015.
Where is Five Good Friends's headquarters?
Five Good Friends's headquarters is located at Level 2, bris.
What is Five Good Friends's latest funding round?
Five Good Friends's latest funding round is Private Equity.
How much did Five Good Friends raise?
Five Good Friends raised a total of $4.99M.
Who are the investors of Five Good Friends?
Investors of Five Good Friends include EQT Partners and Queensland Government.
Who are Five Good Friends's competitors?
Competitors of Five Good Friends include Gotcare and 4 more.
Compare Five Good Friends to Competitors
Cera uses smart technology to track and monitor the health of its users, enabling families and medical professionals to have visibility of changes in health and well-being status. Digitization allows Cera to identify health concerns and help users avoid unnecessary hospital visits, all whilst protecting vital NHS resources. The company was founded in 2016 and is based in London, England.
Meetcaregivers operates as an online marketplace for senior care. It enables seniors to age at home by using online and video technology to connect them to qualified caregivers. It offers them with grocery shopping, senior transportation service, mobility, daily living, and more. It was founded in 2018 and is based in Newtonville, Massachusetts.
Mavencare offers technology enabled, personalized home-care services. The Mavencare feed connects seniors requiring home care with their families. It uses mobile technology to provide updates throughout the home care appointment. These updates can be accessed on the web or on phones using the Mavencare app.
Honor Technology is a senior care network and technology platform. It brings workforce management and technology expertise together with high-touch, personalized care to improve the in-home care experience. It currently provides non-medical home care services to families in more than 800 cities and towns. It was founded in 2014 and is based in San Francisco, California.
Elder is a technology-enabled care agency. It provides live-in care that allows elder people to get full-time specialist support at home. It was founded in 2015 and is based in London, United Kingdom.
Lifted builds an online care management platform to connect families, carers, and staff to improve the quality of care. The platform offers tools to schedule visits, keep a check on tasks that have been completed, and receive notifications when care begins and ends. Lifted was founded in 2018 and is based in London, England.
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