Female-led Carewell, an e-commerce company dedicated to aiding family caregivers, has announced the completion of a $24.7 million Series B funding round to enhance their online platform dedicated to home health products. The funding was spearheaded by MBF Healthcare partners, accompanied by contributions from existing backers including Sageview Capital and Headline. Additional investors in this round include Primetime Partners, Nextview, Florida Opportunity Fund, and Anchor.
The company, founded in 2017 by CEO Bianca Padilla, serves as a hub for independent caregivers, offering not just products like incontinence supplies and nutritional supplements but also a wealth of educational resources and exceptional customer support.
“Family caregiving is becoming an increasingly more common experience in the U.S. with spouses, children, parents, and even grandchildren having to take on a caregiving role overnight without warning,” said Bianca Padilla, CEO and Founder of Carewell. “Understandably, these individuals can experience significant mental, physical, and emotional stress as they balance their role as caregivers with other responsibilities to work and family, and our mission at Carewell is to help educate, support and advocate for these selfless heroes.”
“As healthcare investors for over 40 years, we have strived to create greater value for our investors when focusing on companies that provide a point of difference to their customers and patients,” said, Mike B. Fernandez, Chairman of MBF Healthcare Plans. “Carewell’s commitment to providing an exceptional 24/7 customer experience and tailored high-end products at competitive prices sets them apart from competitors and we are proud to support a family-run company dedicated to shaping the future of healthcare and caregiving.”
Carewell is also set to relocate its headquarters to Miami, a move that aligns with its strategic growth plans. This transition is coupled with new hires from Chewy.com, further augmenting Carewell’s expertise in e-commerce and customer service. These hires include Mike Pacifico as Chief Financial Officer, Jason Klinghoffer as Chief Marketing Officer, Sam Rassner as Chief Technology Officer, and Kelli Durkin as Vice President of Customer Service.
The influx of capital is expected to expand Carewell’s product offerings and elevate the user experience for caregivers, who often unexpectedly find themselves balancing their caregiving responsibilities with other personal and professional commitments.
