CareLineLive has secured a majority investment from technology-focused investment firm Accel-KKR.
Founder Josh Hough said its senior management team will remain with the firm as early backers Oakglen and Haatch exit.
The full transaction value has not been disclosed.
Founded in Sussex in 2014, CareLineLive – a star of our HealthTech 50 ranking – provides an all-in-one cloud-based platform for homecare agencies, integrating staff scheduling, client visits, patient records and invoicing.聽
The company currently supports hundreds of care providers across seven countries.
Hough – – said the investment would help accelerate the company鈥檚 growth and international reach.聽
鈥淥ur vision has always been to make homecare better for everyone through the use of technology 鈥� for providers, carers and clients,鈥� he said.
鈥淭his investment helps bring that future closer. Accel-KKR鈥檚 long track record of helping software companies grow is what I am most excited about. Their experience and resources will help us to grow our team, enhance our product, and deliver even more value to our customers.
鈥淭here鈥檚 a long-term plan in place, but it鈥檚 very much business as usual.鈥�
A portion of the funding will be used to establish a customer support presence in Australia, enabling round-the-clock service. 鈥淎s our UK team finishes for the day, the Australia team will begin 鈥� meaning we鈥檒l be able to support customers at any time of day,鈥� Hough added.
Hough also paid tribute to the outgoing investors: 鈥淲e鈥檙e incredibly proud of the progress we鈥檝e made over the last decade and I鈥檇 very much like to thank both Oakglen and Haatch for their support. This marks an exciting new chapter with Accel-KKR.鈥�
Accel-KKR, which specialises in investing in enterprise software and tech-enabled businesses, cited CareLineLive鈥檚 technology and customer-centric ethos as among the key drivers behind its decision to invest in CareLineLive.
Maurice Hernandez, managing director at Accel-KKR, said, 鈥淣o matter where they serve, home care providers want to focus on delivering responsive, respectful and personalized care.聽
鈥淭echnology can help carers and agencies improve efficiencies, maintain compliance and grow while being focused on their clients鈥� wellbeing. We鈥檙e excited to back CareLineLive and help Josh and his team continue to build market-leading solutions in this category.鈥�
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