HomeHero reported a $20 million Series A funding round, bringing its total funding to $23 million.
According to a release from the company, this latest round was led by Graham Holdings Company with participation from Social+Capital Partnership, Tencent Holdings Limited and The Launch Fund. Proceeds from the round will support the company's expansion into new markets, starting with San Diego and San Francisco, as well as help facilitate key new hires. The previous $3 million seed round last year was led by Social+Capital Partnership and included Science Inc. and Jason Calacanis of The Launch Fund.
"The rapid growth of our business has created a need to scale our team as we expand beyond our Los Angeles launch market into additional cities with large senior populations, like San Diego and San Francisco," said Kyle Hill, CEO and co-founder of HomeHero. "This funding will allow us to develop the new products and operations we need to grow the company, while still maintaining the excellent service and quality our clients expect."
HomeHero helps families find, hire and manage affordable in-home care through an online marketplace of thousands of experienced caregivers, referred to as "Heroes." The site provides access to video profiles, rigorous background checks, and references/reviews, so families are matched with the most reliable, trusted caregivers for their aging loved ones.
"The opportunity to improve the lives of our loved ones when they require care at home is important and meaningful. As a society, we can and must do better. HomeHero can be a large part of that solution," said Timothy O'Shaughnessy, President of Graham Holdings Company.
One of the first key hires as a result of the funding is Joe Nigro, former East Coast General Manager of home services startup Handy, who has joined HomeHero as its new Head of Growth. Nigro played a pivotal role in Handy's expansion into key northeast markets after the marketplace he founded was acquired by the company, and will leverage his insight and expertise to help HomeHero navigate recruiting, onboarding and management of new markets in the next phase of expansion.
HomeHero is a marketplace designed to help families find, hire and manage quality in-home care for seniors.
Graham Holdings Company is a diversified education and media company whose operations include educational services; television broadcasting; online, print and local TV news; home health and hospice care; and manufacturing. T
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