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Homage Announces US$30 Million Series C Financing Led By Sheares Healthcare Group

by | Sep 10, 2021 | Faces & Happenings | 0 comments

Homage, the regional technology-led caregiving and health platform announced today that it has secured a US$30 million (SGD$40 million) Series C financing round led by Sheares Healthcare Group, a wholly-owned healthcare enterprise of global investment firm Temasek. Joining Sheares Healthcare in this Series C round are new investors including DG Daiwa Ventures and Sagana Capital, alongside existing investors including East Ventures (Growth), HealthXCapital, SeedPlus, Trihill Capital and Alternate Ventures. 

The oversubscribed round makes it one of the largest financing rounds raised by an on-demand care platform in Southeast Asia and the Oceania region and brings Homage’s total funding to exceed US $45 million (SGD $60 million). As part of this funding round, Khoo Ee Ping, Chief Corporate Development Officer of Sheares Healthcare will be joining Homage’s board of directors. 

In Malaysia, Homage has expanded across most states to now operate in locations including the Klang Valley region, Penang, Johor and Ipoh; in line with the vision to provide accessible care to more Malaysians throughout the nation, in the spirit of ‘Kita Jaga Kita’ and ‘Malaysia Prihatin’ (Malaysia Cares), Homage will continue to grow its presence and expand into more cities. 

Gillian Tee, Founder and CEO of Homage said, “Our mission is to make everyday care for older adults and the chronic-ill personalised, accessible as well as cost-effective. By combining high touch with high tech, we have been able to prove that we improve the lives, health and wellness outcomes of our care recipients and families at scale. I am thrilled to partner with this group of outstanding institutional investors that are like-minded in our mission to provide trusted value-based care and bridge the gaps in the healthcare ecosystem – across payor, provider and care recipient.” 

This latest investment will further strengthen Homage’s leadership in the long-term care and elder tech categories as the only fully curated platform of daily living assistance, social and clinical care to older adults and families in Southeast Asia and Oceania. The company has built a regional network of more than 6,000 fully screened, trained and curated Care Professionals, including certified and trained caregivers, licensed nurses, care navigators and board-certified therapists and physicians.

“We will utilize this funding to further invest into our technology platform and deepen our integration with the aged and disability care payor and provider infrastructure across the region,” added Tee. 

“The investment is a vote of confidence in the Malaysia market given the current landscape. It will be a very intentional effort on our part to elevate the quality of care to more Malaysians. We believe that we can make a significant difference and we look forward to expanding Homage’s services to the rest of the country,” said PC Gan, Country Manager of Homage Malaysia. 

Source: Homage

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