Elder secures £8.2m Series A funding from Acton Capital and MMC Ventures to scale its home care platform.
Acton Capital and MMC Ventures backed the latest funding round to accelerate technology developments in home care delivery.
£8.2MSeries A
Elder provides technology-enabled live-in care as an alternative to traditional residential care homes. The platform matches families with professional carers across the United Kingdom.
Elder has secured £8.2m in a Series A funding round backed by Acton Capital and MMC Ventures. The capital will be deployed to refine its live-in care offering and expand technology-driven efficiencies across care delivery. This latest injection brings the company total funding to £16.5m as demand for alternative senior care solutions accelerates.
From the founder
"This is an exciting time for Elder customers and families everywhere who are looking for vital support and care. This new funding will be used to further improve our live-in care experience so even more people up and down the UK can make sure their loved ones get to remain happy, independent and supported in their own home rather than being forced out of it and into a care home."
Peter Dowds
Co-Founder and CEO at Elder
Investor perspective
"With life expectancy increasing fast, we need to rethink how to deliver care and to prevent a looming ageing crisis. A vast majority of an ageing population would prefer not to move to a nursing home, if they become incapable of caring for themselves. As home care is becoming more of a need than an option for many, we are convinced that Elder has the potential to really enhance their lives."
Sebastian Wossagk
Managing Partner, Acton Capital
Use of funds
- 01Continue product development
- 02Fund research and development
