Care home platform Lottie raises £6m at £45m valuation
London-based care platform Lottie has raised £6m in an investment round led by US venture capital firm General Catalyst.
Lottie is a residential care comparison website created by brothers Chris and Will Donnelly after a stressful experience finding care for their grandmother.
“Covid-19 has supercharged the move of the later living industry from offline to online, from the initial search process and how care seekers engage with later living communities, through to the adoption of digital care plans and new operational technologies,” said Will Donnelly, co-founder, Lottie.
Lottie says that the latest funding puts the company at a valuation of £45m.
Founded last year, Lottie will use the funding to build new care provider tools, grow its employee benefits service Seniorcare, add new care partners and grow across the UK.
Donnelly added: “Lottie’s operational technology is already being used by hundreds of the UK’s most forward-thinking later living providers, which has been fundamental in allowing an improved customer experience.”
Recently Lottie increased its offering to include retirement living.
Data Bridge says that the global elderly care market is predicted to be worth $2.4tn (£2tn) by 2029.
Chris Bischoff, healthcare investment, General Catalyst, said: “Lottie is this unique hybrid of matchmaker, comparison website and care property specialist.
“Blending smart technology with a dedicated team of care experts, the platform is proving itself to be an indispensable ally in helping families and retirees make easy informed choices about elderly care.”
Bischoff will join Lottie’s board as part of the deal. The investment comes as an extension to the startup’s £2.5m seed round that closed in January this year led by venture capital firm Kindred.
To date, Lottie has raised a total of £9m and has 40 employees. Former backers of the startup include Monzo founder Tom Blomfield, who led its pre-seed funding round.
Success is not given, it is earned. Congratulations to the entire team at Lottie on your funding. I’m certain this company will succeed in its endeavours. All the best.Shishir Gupta, Founder and CEO, StartupLanes
Don’t keep wondering about funding, you can also raise funds. Learn how to raise funds here: Yes I want to raise funds.
If you are an emerging startup and are looking for investors to raise funds, StartupLanes has its own angel network and investment banking services and is connected to angel investors and VCs in 15 countries that ensure that our member startups have easy access to external funds to scale up constantly.
You can subscribe to our news posts by entering your email in the box on the right side of this page.
Check out our YouTube channel for insightful content from the Indian startup ecosystem.
The right investment is key to beating inflation and growing your wealth. Do you wish to become an angel investor? Yes, I want to be an angel investor.
Are you a startup and facing challenges in your business? Do you want to grow your business? It is not as difficult as it sounds. Learn how to grow your business here- Yes, I want to grow my business. For any rectifications, reach out to email@example.com