London-based home care startup Cera Care has raised $70 million (£54m) to fuel its expansion and the national roll-out of its SmartCare technology platform.
Cera is a tech-enabled home care provider using digital services and artificial intelligence to improve elderly care.
The equity and debt financing round was led by US-based KairosHQ, alongside investors including Yabeo and Guinness Asset Management, and brings the total level of capital raised to date to $90m.
The news comes as Cera announces the roll-out of SmartCare, with the ambition to save the NHS millions.
The technology and analytics platform is designed to predict health deteriorations before they occur, while also guiding carers and families on how to deliver safer care and improve user health outcomes.
In early roll-outs of the technology, Cera’s SmartCare platform identified over 715 cases of previously undetected health risks and has shown to be 93% accurate at correctly identifying the next best action for a patient’s health needs.
Dr Ben Maruthappu, co-founder and CEO of Cera Care, said: “Our SmartCare platform will mean the difference between an older person spending a week or a month in a hospital ward or getting the right care earlier, so they don’t need to visit a hospital in the first place. At Cera, our ambition is not just to care more – it’s to care better – allowing our parents and grandparents to live in their own homes healthier and for longer.”
Cera recently acquired Mears Care earlier this month, making the business one of the top home care providers in the country, and the company said the latest funding round will enable it to acquire a number of other agencies.
“This marks an exciting milestone for us, demonstrating faith in our company’s ability to revolutionise the social care sector as we bring modern, digital-first services to families across the UK, empowering our carers with technology, and expanding our services throughout Europe,” added Dr Maruthappu.
Cera launched just over three years ago, and already has 2,000 employees, 20 offices across the UK, delivering 10,000 care visits a day.
The company has 50 public sector contracts, including with the NHS, and has partnered with IBM to test the use of sensors in the home to detect changes in care needs when carers aren’t there.
Caption: Dr Ben Maruthappu, co-founder and CEO of Cera Care.