Investing in Health | June 9, 2022

CareAcademy secures $20 million to upskill home health caregivers

Roodgally Senatus
ImpactAlpha Editor

Roodgally Senatus

ImpactAlpha, June 9 — Boston-based CareAcademy has secured $20 million in a financing round led by Goldman Sachs Asset Management.

The investment “positions CareAcademy to meet its ambitious goal of empowering one million caregivers by 2030,” said CareAcademy’s Helen Adeosun (see “Agents of Impact: Helen Adeosun).

The caregiver-training platform has facilitated 1.5 million hours of training for nearly 30,000 home care and home health workers. The home-care economy is projected to grow 8% a year through 2027.

Goldman Sachs made the investment via its One Million Black Women Initiative, a $10 billion commitment over 10 years to support Black women (see, “Q&A with Asahi Pompey”). Participating investors include MassMutual via its MM Catalyst Fund, Impact America Fund and Rethink Education.

Home-care economy

Separately, Nashville-based value-based healthcare company CareBridge raised $140 million in a round led by Oak HC/FT, a women-led healthcare and fintech investment firm.

The company will build out health solutions for Medicaid patients who are receiving home and community-based services for physical or intellectual disabilities.