Homage, the care-focused startup, has raised a $ 30 million Series C led by Sheares Healthcare Group, which is wholly owned by investment firm Temasek. Other participants included new investors DG Daiwa Ventures and Sagana Capital, and returning backers East Ventures (Growth), HealthXCapital, SeedPlus, Trihill Capital and Alternate Ventures.
The new funds will be used to develop Homage’s technology, continue to integrate with the infrastructure of providers and payers of care for the elderly and disabilities, and accelerate its regional expansion through partnerships with hospitals and providers of care. Homage currently operates in Singapore, Malaysia and Australia.
The Singapore-based company’s services include home visits by caregivers, nurses, therapists and doctors; telemedicine; and chronic disease services. One of the reasons Homage’s platform can scale is its matchmaking engine, which helps clients, such as older adults and people living with chronic conditions, find providers that are better suited to their needs. Final matches are made by the Homage team).
The startup says the round was oversubscribed and one of the largest funds raised by an on-demand service platform in Southeast Asia and Oceania so far. It brings the total Homage raised to more than $ 45 million.
As part of Series C, Sheares Healthcare Group’s Director of Corporate Development, Khoo Ee Ping, will join Homage’s board of directors.
Homage now has a regional network of more than 6,000 pre-screened and trained care professionals. He claims that his business outside of Singapore has grown more than 600% year-over-year in 2021, and has more than tripled revenue in the last year.