January 20, 2020
Venture capital firms MMC Ventures and Acton Capital have invested £8.2 million in Elder, which provides live-in care to elderly people.
Elder helps provide live-in care to elderly people in their own homes by using technology to match self-employed live-in carers to families in need. The business is headquartered in London and has 85 employees.
Peter Dowds, Co-Founder and CEO of Elder, said: “This new funding will be used to further improve our live-in care experience so even more people up and down the UK can make sure their loved ones get to remain happy, independent and supported in their own home rather than being forced out of it and into a care home. It is great to have the continued backing of MMC Ventures and to welcome Acton Capital on board.”
Sebastian Wossagk, Managing Partner at Acton Capital, added: “As home care is becoming more of a need than an option for many, we are convinced that Elder has the potential to really enhance their lives.’
Bruce Mcfarlane at MMC Ventures, added: “The team at Elder have consistently executed on their vision to provide better, tech-enabled social care and we’re excited to continue supporting the team at Elder in its next stage of growth.’