A Seattle-based senior care technology platform has raised $175 million in growth equity funding.
A Place for Mom's (APFM) funding round was led by venture capital and private equity firm Insight Partners. Existing investors General Atlantic and Silver Lake also contributed.
“[Home care] is a material part of what we do; we refer families if they want home care, as opposed to senior housing, and we help them with that,” CEO Larry Kutscher told Home Health Care News. “Many times we’ll refer them to home care, and then at some point down the road, when they’re ready, they’ll come back to us again for senior housing.”
Home Health Care News reported that the platform, which has a nationwide network of senior living communities and home care providers, is now worth more than $1 billion.
The demand for home-based care has benefited the company, although senior living is a big part of the business as well. Kutscher mentioned that APFM is actively seeking to grow its home care network and is hiring additional staff.
