Impact Tech | June 23, 2021

Generation invests in AlayaCare to streamline home health care

David Bank
ImpactAlpha Editor

David Bank

ImpactAlpha, June 23 — Montreal-based AlayaCare raised $185 million for its platform to help home healthcare agencies retain staff and improve patient outcomes.

“We fundamentally believe that treating people in the home is key to building a sustainable health system that provides better outcomes at lower cost,” said Dave Easton of Generation Capital Management, which led the Series D financing.

Klass Capital and earlier investors Inovia Capital, CDPQ and Investissement Québec also participated. AlayaCare says more than 500 home and community care organizations use its software.

Care economy

The global home health care market could reach $383 billion by 2030, estimates Precedence Research. Aging populations and an increase in chronic diseases is driving demand as a global shortage of home health workers looms. In South Africa, Quro Medicalraised $1.1 million to make affordable care at home an alternative to hospital stays.