Aloe Care's rapid revenue growth in 2020-21 was accomplished through a variety of revenue sources, including white-label offerings, select insurance partners, private duty homecare suppliers, and direct-to-consumer online sales.
Fremont, CA: Aloe Care Health, the world's most innovative voice-activated medical warning device and caregiver support network, has confirmed a $5 million round led by City Light, Laerdal's new Million Lives Fund, the Springbank Collective, and Drumbeat Ventures.
Aloe Care's rapid revenue growth in 2020-21 was accomplished through a variety of revenue sources, including white-label offerings, select insurance partners, private duty homecare suppliers, and direct-to-consumer online sales. This round ensures that the organization will maintain the exceptional rate of adoption by elders and caregivers in the aftermath of COVID-19. With over 50 million people in unpaid caregiving positions and over 60 million people over the age of 65, Aloe Care is poised to help nearly half of the adult population in the US.
Josh Cohen, Partner at City Light, stated, "We exist to support companies like Aloe Care - those that are making a measurable impact on large-scale societal issues. Aloe Care is delivering a solution critically needed by millions of people, elders, and caregivers alike," Cohen noted.
"The Laerdal Million Lives Fund is centered around one ambitious aim," Jeff Trost, Managing Partner, remarked, "We've set out to help save over one million lives annually by 2030. This has given us a laser focus on supporting companies whose solutions have high life-saving potential, ideally, while also lowering healthcare costs and enhancing the quality of life years for all populations. Aloe Care shares our aims in every regard. We're thrilled to add them to our portfolio."
Aloe Care's innovative technologies include an in-home Smart Hub for hands-free, two-way voice communication and additional Smart Sensors for detecting slips, motion, air quality, and temperature. Aloe Care has a qualified emergency response team on call 24 hours a day, seven days a week. It also includes a free, safe family app for real-time status updates, voice calls directly into the Smart Hub, and collaborative treatment with family and skilled caregivers.