Singapore-based Homage, a provider of on-demand caregiving and health services, announced today that it has secured US$30 million in Series C financing.
Temasek-owned Sheares Healthcare Group led the round. DG Daiwa Ventures and Sagana Capital, alongside existing investors East Ventures (Growth), HealthXCapital, SeedPlus, Trihill Capital, and Alternate Ventures, also participated.
This brings Homage’s total funding raised to date to over US$45 million. A year ago, it received an undisclosed sum in strategic investment from Japan-based Infocom. It has previously raised an undisclosed Series B funding, led by EV Growth.
The company will use the new financing to accelerate regional expansion and scale its platform with local and regional partners.
“We will utilise this funding to further invest into our technology platform and deepen our integration with the aged and disability care payor and provider infrastructure across the region,” founder and CEO Gillian Tee said.
Homage is a caregiving and health solution that combines curated professional caregivers, therapists, and clinicians with technology to provide holistic care and wellness to older adults and families wherever they are.
With over 6,000 licensed care professionals, Homage provides core services to government providers, federal care plans, health organisations and employers across Singapore, Malaysia, Australia and Japan.
The startup claims it experienced significant growth in 2021. The regional business outside Singapore grew over 600 per cent y-o-y. The group more than tripled its revenue in the past year.
“Our mission is to make everyday care for older adults and the chronic-ill personalised, accessible as well as cost-effective. By combining high touch with high tech, we have proven that we improve the lives, health and wellness outcomes of our care recipients and families at scale.”
It has developed partnerships with private and governmental hospitals and primary and community care providers to bridge the gap in the end-to-end care recipient journey, integrating the payor ecosystem across hospital health, community, and home care.
“Homage’s mission is very aligned to the Sheares vision of building integrated healthcare ecosystems to close care gaps and deliver new innovative models of healthcare services. This will ultimately help to contain healthcare costs,” said Khoo Ee Ping, Chief Corporate Development Officer of Sheares Healthcare, who will be joining Homage’s board of directors.
Willson Cuaca, co-founder and Managing Partner of East Ventures, said, “Supporting aged and disability care gives us a chance to be impactful in society. Aged and disability care is for the patients and the people and families surrounding them. As we are still fighting the COVID-19 pandemic and moving to a new normal, a different care approach, skills, and protocol become crucial, and the Homage team comes timely to provide a holistic solution.”
The age-tech and silver economy market in Asia is projected to be worth US$6.2 trillion.
Image Credit: Homage
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