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BREAKING NEWS
Source: Thailand Startup News  Jan 20, 2020

Malaysian Caregiving Startup, HOMAGE Secures US$ 10 Million In Series B Funding

Malaysian Caregiving Startup, HOMAGE Secures US$ 10 Million In Series B Funding
Source: Thailand Startup News  Jan 20, 2020
Malaysian startup,HOMAGE, an on-demand caregiving services platform that combines qualified care professionals with smart technology, announced that it has raised close to US$ 10 million in a series B funding. The round was led by EV Growth, with Alternate Ventures and KDV Capital as new investors and existing investor HealthXCapital also participating.


EV Growth VP of Investment Yinwei Liang (left) ; Homage co-founder and CEO Gillian Tee;
and EV Growth managing partner and co-founder Willson Cuaca
(right)


Founded in 2016, Homage delivers personalised and holistic care to individuals, families, and organisations to enable wellness and recovery, be it at home, point-to-point (for medical tourism or escort and transportation), or care within health- and aged-care facilities. Using their platform, Homage individually interviews each care professional and screens them for aptitude, as well as softer skills including motivation and communication skills.

The incorporation of technology enables the company to streamline and scale the process, capturing the skills, experience, and motivation profile of each care professional. They also use a proprietary matching engine that pairs care recipients, and organisations with the best-suited care professionals for their needs.

Homage co-founder and chief executive officer Gillian Tee told Thailand Startup News, “Homage is about providing care wherever you are, for whatever you need, in a one-stop platform. As we’ve scaled out our core services, we see a need to build a strong network of fully-curated, reliable and trusted care professionals to deliver a holistic range of healthcare services to make long term healthcare more accessible and affordable.”

The startup grew their B2B business by more than 400% in 2019, and has seen a six-fold rise in their Malaysian operations since the beginning of 2019. They have also established the largest fully-screened pool of close to 2,000 qualified care professionals in Southeast Asia.

Tee added, “In our next phase of growth, we look forward to partnering EV Growth to create a greater impact in our mission to provide deeper and more personalised support for long-term care needs.”

The startup hopes with the fresh funds, Homage will focus on three key areas to scale the delivery of its care services. Firstly, Homage will invest in its core network of Care Professionals to improve their professional capabilities. They will with launch holistic and personalised healthcare services empowered by their care provider, enterprise, as well as consumer mobile and web platforms.

The startup plans to further invest in building out its medical services arm with a network of doctors and medication delivery capabilities. It will deepen the investments in its core services in skilled nursing, assistance with daily living activities as well as rehabilitation care including physiotherapy, speech therapy, and occupational therapy.

Next, the company will work to forge new partnerships with private and public sector stakeholders to raise the accessibility and affordability of care and invest further into the enterprise technology platform.

Lastly, Homage will expand further in the region to enable better accessibility, affordability and reliability of services across the Asia Pacific by growing the quality and pool of care professionals  as well as building much-needed long-term care infrastructure.

By 2045, the number of elderly will exceed the number of children globally. In particular, Asia’s dramatically aging population will see an unprecedented demand for care and health services.

The caregiving startup plans to fill the shortage in health workers by employing technology to deliver quality personalised care services. The company is looking to launch in five countries in the region within the next two years.

EV Growth managing partner and East Ventures co-founder Willson Cuaca added, “An increasing aging population and low TFR (total fertility rate) are inevitable. Urbanisation and a fast-paced working environment make caregiving a key service in our daily life. Gillian and the team have been consistently trying to make on-demand caregiving services as accessible as possible, fast, and reliable. We are proud to be part of the Homage journey to bring back caregiving with control, grace, and dignity.”