ClearCare, a US-based home care software developer backed by several corporate investors, secured $60m yesterday in a funding round led by venture capital and private equity firm Battery Ventures.
Founded in 2010, ClearCare has built a software platform that helps agencies schedule, organise and provide home care more effectively, as well as manage their business more efficiently.
The platform’s features include care tracking and monitoring, integrated payment and a family interaction portal, and ClearCare claims it can provide agencies with higher margins and lower tax liability, giving them the means to offer more services without hiring more staff.
ClearCare plans to use the funding to further develop its software and form new strategic partnerships. Chelsea Stone, a general partner at Battery Venture, and Battery vice-president Duncan Gills will join ClearCare’s board of directors in conjunction with the round.
The round comes after McKesson Ventures, the strategic investment arm of healthcare services provider McKesson Corporation, invested an undisclosed amount in ClearCare in November 2015.
Qualcomm Ventures, the corporate venturing subsidiary of wireless technology producer Qualcomm, joined Voyager Capital and Harbor Pacific Capital for the company’s $4.6m series A round in 2012.
The three returned for an $11m series B round in 2014 that included health insurance provider Cambia Health Solutions, financial services firm City National Bank and Bessemer Venture Partners.