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Lifted raises $6.2M Series A round led by Fuel Ventures for its long-term social care platform – TechCrunch

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Lifted raises .2M Series A round led by Fuel Ventures for its long-term social care platform – TechCrunch

As individuals reside longer and longer and have long-term well being points like most cancers and dementia, caring for aged family is changing into an enormous societal and political problem. Proper now this care is antiquated and run by incumbents, a lot of which nonetheless run off paper and Excel. We at the moment are seeing a brand new wave of startups flip as much as sort out this area by making use of Apple’s age-old mannequin of proudly owning the expertise end-to-end and working every little thing on a platform.

The newest to hitch this race is UK startup Lifted, which has now raised $6.2 million in a Sequence A funding spherical led by Gas Ventures. Additionally taking part have been present investor 1818 Enterprise Capital in addition to new traders Novit Ventures, Perivoli Improvements, the J.B. Ugland household workplace, and quite a lot of Angels. This newest funding spherical takes the entire raised by Lifted to $11.2M.

Lifted says its UK market is rising and claims the variety of individuals caring for grownup family members has risen exponentially through the pandemic, with virtually 1 in 2 individuals supporting individuals exterior their family.

The startup is coming into an ideal storm of accelerating want, unpopular care houses, and the UK Authorities nonetheless with no long-term plan for social care.

Lifted app

In distinction to a raft of businesses and freelancers, Lifted instantly employs its care workforce and makes use of its platform to “gamify and enhance the expertise of carers to make them carry out higher in individuals’s lives and likewise to revive respect to the caring occupation” with its Care Administration Platform, says the corporate.

Lifted has additionally acquired the ‘Dwell Higher With Dementia’ web site and launched the Lifted Dementia Hub, a web based group with a market of merchandise.

Rachael Criminal co-founded Lifted with Sam Cohen. She says she was impressed to get into the sector when, on the age of 24, she needed to take care of her mom, who was recognized with dementia at age 56.

Rachael Criminal, Lifted CEO bought me at an interview: “I used to be in that place a lot youthful than most individuals. And it appeared abundantly clear to me that it was an expertise that was massively emotionally essential to me, and financially costly, was actually convoluted and irritating. It made an already actually tough time, tougher. My mum introduced me as much as actually combat for the underdog and I felt just like the carers themselves have been getting a extremely poor deal. And but, it’s an enormous colossal market. The care market is ready to double within the subsequent 20 years, and for the subsequent 10 years, we are going to look to compete towards conventional care corporations. We need to remodel the care expertise. It is a product that’s price 4 and a half occasions your mortgage. And but, it’s predominantly purchased in a extremely antiquated means with paper and pen methods. It’s actually laborious to maintain updated together with your family members’ care. We’re additionally competing towards new entrants.”

She added: “In 12 months, we’ve tripled income, launched the primary App on the planet to supply free care recommendation, and lower Carer churn to half the trade common, all whereas sustaining completely 5-star evaluations on Trustpilot.”

Mark Pearson, Managing Associate of Gas Ventures mentioned: “Rachael, Sam and their crew have delivered distinctive development up to now 12 months. They’ve a singular imaginative and prescient of the longer term for care and their mannequin is delivering clear outcomes for either side of {the marketplace}.”

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