The funding will help the company expand into post-acute care. Here are the top-line bullets you need to know.
AlayaCare, an AI-enabled home care software provider, has raised $183.1M in a Series D with participation from Generation Investment Management, Inovia Capital, and Klass Capital, among others.
HOW’S THE COMPANY PERFORMING?
- Canada-based AlayaCare is a cloud-hosted home and community care software platform that manages the entire operation cycle for agencies, nurses, and healthcare workers. This includes scheduling, reporting, clinical documentation, and billing, among several other services.
- It reportedly caters to more than 500 home and community care organizations.
- It employs around 500 people across offices in the US, Canada, and Australia.
WHY DOES THE MARKET MATTER?
- The global home healthcare market is projected to grow at a CAGR of 8.65% to reach a value of $383.66B by 2030, according to Precedence Research.
- Global healthcare funding hit a new quarterly record in Q1’21. A total of $31.6B in equity funding was raised, boosted by a record number of 96 mega-rounds ($100M+). Deal count grew by 9% to 1.5K+ deals, the second-highest in the last 12 quarters.
- The impact of Covid-19 on healthcare infrastructure, technological advancements, and the changing virtual care ecosystem has accelerated the growth of the telehealth industry.