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BREAKING NEWS
Source: Thailand Startup News  Sep 27, 2019

Woman Entrepreneur Rachel Crook Secures US$1.85 Million For Her Elderly Care Startup, ‘Lifted’

Woman Entrepreneur Rachel Crook Secures US$1.85 Million For Her Elderly Care Startup, ‘Lifted’
Source: Thailand Startup News  Sep 27, 2019
Lifted, british based home care provider has secured a US1.85 million seed funding from venture building studio Zero-1. Lifted was founded by former management consultant Rachael Crook and together with Zero 1, a new corporate venture builder which is working with FTSE 100 corporate partners,it hopes to build more companies that can tackle the world’s biggest challenges such as the aging population and also home health care.


Ms Rachel Crook, Founder Lifted
 

The startup was was founded as a solution to the growing need for affordable home care for an ageing population. Today one in 120 adults use home care services in the UK, and this figure is set to increase by an estimated 85 per cent in the next 15 years. 
 
The company is a CQC-regulated care provider that delivers exceptional care for loved ones and peace of mind for families. Using Lifted’s proprietary Care Management Platform, families get real time updates on care, leave instant reviews, and see a set of wellness data about their loved one. The Care Management Platform is a way to schedule visits, keep a check on tasks that have been completed and receive notifications when care begins and ends.
 
Lifted’s CEO has first hand experience of struggling to find appropriate care for a loved one at home. Rachael Crook, former Cabinet Office and McKinsey Consultant, co-founded Lifted with Zero 1 after a frustrating experience trying to arrange care for her mother after she was diagnosed with dementia aged 56. 
 
Lifted’s future plans include broadening their service offering by combining professional care and in-home technology. This will bring together health alerts, in home sensors, and professional carers to transform what it means to care. 
 
Lifted’s platform harnesses thousands of data points and Lifted will develop AI-based analytics to predict and prevent health deterioration, so that older adults can live longer at home.
 
The home care services market in the UK has 8,000 providers, none of whom have more than a 2 per cent market share, and the monthly cost of home care is 1.5 times that of the average mortgage. Lifted is transforming elderly home care by embedding technology in every aspect of the business, and working to improve the lives of carers.
Unlike other startup care providers, Lifted directly employs its carers and pays the London Living Wage, which is 20 per cent above the market average for hourly care and enabled by operational savings achieved by using a technology platform. 
 
Seed funding will be used to support Lifted’s research and development, which is aimed at creating services that increase the quality of patient care by using behavioural change models to increase the quality of care.
 
Lifted is one of the first companies founded by Zero 1, a new venture builder that builds and scales mission-led businesses in partnership with large corporations. 
Zero 1 brings together its resources, infrastructure, network, and experience to help corporations co-create startups taking them through conception, launch and scaling to maturity. It enables FTSE 100 companies to tackle disruptive threats to their core business head on by building new adjacent ventures at unrivaled speed and costs.
As part of Zero 1’s new approach to corporate venture it also seeks to create and found businesses that have a social and ethical mission at their core – in the case of Lifted, that is innovating care of the elderly. 
 
Founded in 2018 by Finn MacCabe, Damian Cristian and Guy Conway, Zero 1 has already built three new companies in Insurance, Cloud Compute and Health Care, in partnership with FTSE 100 companies.
 
Rachel commented in a phone interview with Thailand Startup News.”There are few more critical decisions than who to trusts to look after your loved ones. Yet the current market is broken with a lack of transparency, poor quality care and poor working conditions for carers. Precious data languishes in paper files. Lifted is a startup on a mission to change this by using newer technology such as AI and Big Data to transform the quality of care and improve the lives of carers and families.” Lifted also plans to expand to other markets to Europe by 2022.