Kare, a Houston-based senior care startup, has raised $7.85 million in Series A financing to expand its digital labor marketplace for senior care.
The funding round was led by Golden Section Ventures, with the total funding raised by the startup since being founded in 2019 being unknown. Kare closed a seed funding round back in March of 2021, which was led by Third Act Ventures for an undisclosed amount. Dougal Cameron, General Partner at GSV, referred to the Series A round by stating:
“The KARE team are well known in senior care and the caring industry at large. They are experts in their field and know this problem well. Their care for the industry and knowledge in the space clearly shows in the company’s rapid adoption. They are providing a needed solution to an extremely important industry for our society,”
Kare’s platform offers a digital marketplace for senior care and post-acute care facilities, facilitating access to staff. The industry has faced a staff crisis over the past years, with an estimated 82% of its communities facing severe staffing challenges.
By connecting caring communities with HEROES, the startup’s designation for clinical and hospitality talent, Kare is facilitating the direct hiring process to help diminish the effects of staffing crises. Charles Turner, Founder and CEO of Kare, referred to this mission by stating:
“It feels good when you build something that the marketplace loves and helps alleviate a major crisis that so many of our operator customers are dealing with. We are eternally grateful that GSV has understood our vision from our very first day and has been such a committed partner to help fuel our growth,”
The funding will be used to fuel the expansion of the senior care startup in the United States to better allow care facilities and staff to connect with each other, addressing a senior care staffing crisis that threatens to leave millions of citizens with inadequate levels of care.