The funding will help Florence expand its product offerings beyond elder care. Here are the top-line bullets you need to know.
Florence, a marketplace for nurses and caregivers looking for extra work opportunities, has raised $35M in a Series B. The round drew participation from AXA Venture Partners, Roo Partners, and Seek Ventures.
How’s the company performing?
- UK-based Florence connects local nurses and caregivers with open homecare shifts.
- The company’s revenue reportedly grew by 5x year-over-year between 2021 and 2022.
- It currently contributes to more than a quarter of social care in the UK.
- At present, Florence serves 90K workers and 2K organizations, as well as thousands of learners through its app.
Why does the market matter?
- The global homecare services market is expected to reach $413.1B by 2026, at a CAGR of 9.9%, according to Persistence Market Research.
- A rapidly growing number of elderly patients suffering from costly chronic diseases, government funding for home care services, and the need for cost-efficient home care setups are contributing to the growth of the market.