Homage, a care-focused startup, has raised a $30 million Series C led by Shears Healthcare Group, wholly owned by investment firm Temasek. Other participants included new investors DG Daiwa Ventures and Sagana Capital, and returning backers East Ventures (Growth), HealthX Capital, SeedPlus, Trihill Capital and Alternate Ventures.
The new funding will be used to develop Homage’s technology, continue integration with aged and disability care payer and provider infrastructure, and accelerate its regional expansion through partnerships with hospitals and care providers. Homage currently operates in Singapore, Malaysia and Australia.
The Singapore-based company’s services include home visits from caregivers, nurses, therapists and doctors; telemedicine; and services for chronic diseases. One of the reasons Homage has been able to enhance the platform is its matching engine, which helps customers, such as older adults and people living with chronic conditions, find the providers that best suit their needs. (The final matches are played by Homage’s team).
The startup says the round was oversubscribed and is one of the largest ever funding raised by an on-demand care platform in Southeast Asia and Oceania. This raises Homage’s total to more than $45 million.
As part of Series C, Khu E Ping, Chief Corporate Development Officer of Shears Healthcare Group, will join Homage’s board of directors.
Homage now has a regional network of over 6,000 pre-screened and trained care professionals. It claims that its business outside Singapore has grown by more than 600% year-on-year in 2021, and has more than tripled its revenue from the previous year.