TORONTO, ON: AlayaCare, a home healthcare software startup, today announced that it has raised $3.6 million in its latest round of funding as it accelerates client management, research and product development, and its expansion in the US market. AlayaCare’s proprietary platform provides its clients with an integrated solution that combines back office functions such as scheduling, invoicing, and time and attendance, with clinical documentation and a suite of mobile solutions for care workers and family members.
“With the growing trend toward home-based health care, we’ve seen first-hand how the adoption of new technologies can dramatically improve the day-to-day needs of health systems and the home care providers that support them,” said Adrian Schauer, CEO of AlayaCare. “This capital will accelerate our ability to support our growing number of home and community care partners.”
This round of funding included several strategic angel investors and institutional investors such as Recap Health Ventures, a leading investment fund with an expertise in innovative healthcare markets.
“We believe that the future of home and community care consists of great in-person visits combined with best-in-class technology supporting the caregivers, patients and their families,” said Rich Osborn, Managing Partner of RecapHealth Ventures. “We have evaluated numerous solutions and companies over last several years and believe strongly that Adrian and his team have the potential to dominate this high growth and vitally important market.”
“The home-based health care space is complex with several legacy players and we believe that technology is the key to unlocking the potential of this market.” noted Brandon Corman, Managing Director of Maple Leaf Angels. “Our investors are extremely proud of what Adrian and the team have accomplished and are excited to participate again in this financing.”
The investment, which also included funding from several AlayaCare employees, will help the organization double in size, bringing the employee count to 50. “Our employees are passionate about working with our clients because they realize the exceptional value and benefits that our software solution delivers,” said Schauer. “I am very honored to lead such a great team.”
Ultimately, many of AlayaCare’s enterprise clients will benefit from this capital as the team will be able to accelerate timelines while delivering the best care possible. The investment will also fuel a number of strategic initiatives from AlayaLabs, which aims to further disrupt the delivery of care through advance technologies such as machine learning, big data analytics and other optimization efforts.
”With the tools AlayaCare brings to the table, we recognize that there is a huge opportunity to improve the efficiency and effectiveness of homecare – and this injection of funds will ensure that we have the resources to capitalize on that opportunity,” said Schauer.
Over time, AlayaCare’s goal is to transform the way home care is delivered through next-generation technologies that allow the integration of Remote Patient Monitoring and Telehealth with traditional face-to-face in-home care. AlayaCare’s Machine Learning algorithm-based clinical support tools and open web architecture allow for better coordination and quality of care across the healthcare continuum.
AlayaCare is a provider of revolutionary cloud-based home healthcare software. With a product spanning Clinical Documentation, Back Office Functionality, Client and Family Portals, Remote Patient Monitoring, Telehealth and Mobile Care Worker apps, AlayaCare offers a platform for homecare providers to achieve better outcomes for patients and payers.. For more information, visit www.AlayaCare.com
About RecapHealth Ventures
RecapHealth Ventures is a unique investment fund delivering financial and social impact by investing in global health care innovation. Our investment team has expertise in Canadian, US and European health care markets and is supported by an extended team of advisors with deep domain knowledge in our targeted sectors. For more information, visitwww.recaphealthventures.com
About Maple Leaf Angels
Established in 2007, Maple Leaf Angels (MLA) is a not-for-profit membership organization. Our mandate is to connect accredited investors and the brightest, most passionate entrepreneurs in a stream-lined process within the larger entrepreneurial eco-system.For more information please visit https://www.mapleleafangels.com/ and follow us on Twitter at @Mapleleafangels