CareLineLive Attracts Major Investment for Future Growth
CareLineLive Attracts Major Investment for Future Growth
CareLineLive, a notable player in home care management software, has recently secured a substantial investment from Accel-KKR, a prominent technology-focused investment firm. This partnership is set to propel CareLineLive into a new phase of growth, enhancing its capabilities in product development and expansion.
Founded in 2014, CareLineLive was established by entrepreneur Josh Hough to create an integrated cloud-based platform tailored for home care agencies. The software facilitates staff scheduling, client visits, patient records, and invoicing, serving hundreds of care providers across multiple countries.
With the home healthcare market on the rise globally, CareLineLive is well-positioned to benefit. For instance, the UK's home care market is valued at approximately £11.5 billion. Similarly, the Australian market is expected to reach about USD 25.7 billion by 2030, while the U.S. home care providers market holds an estimated value of USD 153.7 billion in the near future.
Josh Hough expressed his excitement regarding the investment, stating that it would play a crucial role in accelerating the company’s growth and expanding its international footprint. Hough envisions a future where technology enhances the homecare experience for providers, carers, and clients alike. He noted the expertise of Accel-KKR as a driving factor behind the partnership's potential success.
A strategic portion of the funds will also contribute towards establishing a customer support presence in Australia, allowing for customer service to operate around the clock. As the team in the UK wraps up for the day, the Australian team will begin, ensuring clients receive support at all hours.
While the exact valuation of the deal remains undisclosed, the investment allows early backers to exit, fostering exciting new opportunities for CareLineLive with Accel-KKR. Hough acknowledged the critical contributions of prior investors Oakglen and Haatch, emphasizing the company's significant progress over the past decade.
Accel-KKR's investment strategy is heavily oriented towards enterprise software and tech-enabled businesses, and the firm highlighted CareLineLive’s dedication to customer-centric innovation as a pivotal reason for their investment. Maurice Hernandez, Managing Director at Accel-KKR, remarked that technology plays a vital role in empowering home care providers to enhance their services.
Hough emphasized that the senior management team, including himself, will remain with CareLineLive, maintaining continuity in the company's operations while leveraging new resources from Accel-KKR to explore further growth and innovations.
About CareLineLive
Founded in 2014, CareLineLive offers an innovative cloud-based platform specifically designed for homecare agencies, consolidating various essential functions like staff scheduling, patient visits, and invoicing. With its commitment to regulatory standards, it stands out as one of the few suppliers on the NHS's approved list for Digital Social Care Records, further integrating with GP Connect for seamless access to GP records.
About Accel-KKR
Accel-KKR is a leading technology investment firm boasting a substantial $21 billion in cumulative capital commitments. The firm focuses on partnerships with management teams to drive growth and add value within the software and tech-enabled sectors. With offices in major cities across the globe including Menlo Park, Atlanta, Chicago, London, and Mexico City, Accel-KKR is focused on middle-market companies, providing diverse capital solutions tailored to various investment types.
Frequently Asked Questions
What is the significance of the investment in CareLineLive?
The investment from Accel-KKR will enable CareLineLive to enhance growth, expand its international reach, and improve product development.
How does CareLineLive's platform benefit homecare agencies?
CareLineLive's platform streamlines operational tasks such as scheduling, client management, and invoicing, making it easier for agencies to provide efficient care.
Where does CareLineLive plan to establish customer support?
CareLineLive plans to set up a customer support presence in Australia, allowing for 24/7 service availability.
What is the market outlook for home healthcare?
The home healthcare market is rapidly growing, with substantial projections indicating strong potential for future expansion across several regions.
Who are the founders of CareLineLive?
Josh Hough is the founder of CareLineLive, which was established in 2014, and he continues to lead the company into its next phase of growth.
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