CareLineLive has secured a majority investment from technology-focused investment firm Accel-KKR.
Founder Josh Hough said its senior management team will remain with the firm as early backers Oakglen and Haatch exit.
The full transaction value has not been disclosed.
Founded in Sussex in 2014, CareLineLive – a star of our HealthTech 50 ranking – provides an all-in-one cloud-based platform for homecare agencies, integrating staff scheduling, client visits, patient records and invoicing.
The company currently supports hundreds of care providers across seven countries.
Hough – who once maxed out his credit cards to keep the company afloat – said the investment would help accelerate the company’s growth and international reach.
“Our vision has always been to make homecare better for everyone through the use of technology – for providers, carers and clients,” he said.
“This investment helps bring that future closer. Accel-KKR’s long track record of helping software companies grow is what I am most excited about. Their experience and resources will help us to grow our team, enhance our product, and deliver even more value to our customers.
“There’s a long-term plan in place, but it’s very much business as usual.”
A portion of the funding will be used to establish a customer support presence in Australia, enabling round-the-clock service. “As our UK team finishes for the day, the Australia team will begin – meaning we’ll be able to support customers at any time of day,” Hough added.
Hough also paid tribute to the outgoing investors: “We’re incredibly proud of the progress we’ve made over the last decade and I’d very much like to thank both Oakglen and Haatch for their support. This marks an exciting new chapter with Accel-KKR.”
Accel-KKR, which specialises in investing in enterprise software and tech-enabled businesses, cited CareLineLive’s technology and customer-centric ethos as among the key drivers behind its decision to invest in CareLineLive.
Maurice Hernandez, managing director at Accel-KKR, said, “No matter where they serve, home care providers want to focus on delivering responsive, respectful and personalized care.
“Technology can help carers and agencies improve efficiencies, maintain compliance and grow while being focused on their clients’ wellbeing. We’re excited to back CareLineLive and help Josh and his team continue to build market-leading solutions in this category.”
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