ianacare Raises $12.1 Million to Reduce Family Caregiver Responsibilities and Stress

By Thomas Price | Wednesday, 05 January 2022 | Startup, Health & Wellness

As more families turn to caregivers to provide daily support to an older or chronically ill family member, healthtech startup ianacare has developed and launched a support software to ease the workload. The company recently announced new support for its Series A funding round to expand its current services and scale up its business.

How ianacare Works and Effectiveness of Software

Healthtech startup ianacare offers an all-in-one support platform that allows caregivers to communicate directly with other family members, request help with certain tasks, and receive support from an ianacare “Caregiver Coach.” The company provides its services on the ianacare app available on both Android and iOS devices. 

In addition to basic organizational tools and communication services, the healthtech startup helps connect users with local resources as well. By providing basic location information, users gain access to personalized lists of services and healthcare support options within their area. Furthermore, the company connects users’ employer benefits to help them take advantage of healthcare or mental health resources already available to them. 

Alongside the ianacare ‘Caregiver Coach,’ the healthtech startup has created a larger community of other caregivers that provide support, success stories, and tips to help ease the responsibility that comes with caring for a family member. 

The company has also proven to be effective in its business efforts. In a recent study conducted by Healthcore, family caregivers with access to the ianacare app through their employer reported an 83% increase in productivity and a 30% decrease in overall stress. 

ianacare is entering a global health caregiving market that is projected to reach a value of around $214 billion by 2026. The market is expected to reach this figure through a compound annual growth rate (CAGR) of 11.2%. The largest geographic segments of growth are the United States (US) and China, each of which experienced significant growth in the market during the COVID-19 pandemic.

ianacare Funding Round and Future Business Plans

In its Series A funding round, ianacare raised $12.1 million in capital. The business funding round was led by Greycroft with participation from AARP, 8VC, Service Provider Capital, SemperVirensVC, Cue Ball, Brown Alumni Group, Entree Capital, Founder Collective, and Indicator Ventures. Additionally, the company announced that Greycroft Partner Ellie Wheeler will be joining the ianacare board of directors. 

The healthtech startup plans to use the newly raised capital to rapidly scale its business operations and platform capabilities by tripling its staff across its sales, client success, marketing, and product development departments. The startup company also plans to use the funding to build new business partnerships with employers and healthcare providers to expand the number of family caregivers who will have access to its resources. 

When commenting on the latest funding round and the growing demand for caregiver support, co-founder and COO of ianacare, Steven Lee, said, “There are so many activities built into the care plan that fall to family caregivers - like medication management, transportation to and from appointments, managing dietary needs, etc. Creating a true infrastructure of care in the home environment requires access, knowledge, and guidance. What we realized was that thousands of resources and services already exist, but they are highly fragmented and difficult to find. The power of technology allows us to bring large systems together, enable simpler connection and coordination, and deliver highly personalized experiences at scale.”

About the Author

Thomas Price

Tom Price is a writer focusing on Entertainment and Sports Features. He has a degree from NYU in English with a minor in Creative Writing. He has been previously published for Washington Square News, Dignitas, CBR, and Numbers on the Boards.