October 27, 2020
We founded Honor in 2014 with a mission to change the way we care for our parents. Today, we’re thrilled to announce that we’ve raised $140 million in Series D funding to further advance this mission by building a national home care network that consistently provides high-quality care. The round was led by Baillie Gifford and funds and accounts advised by T. Rowe Price Associates, Inc. with participation from Rock Springs and existing investors Prosus Ventures, Andreessen Horowitz, Thrive Capital, and 8VC.
This exciting capital raise is a tremendous show of confidence in our team, the Honor Care Network partnership model, and our growing number of exceptional HCN Partners. With this additional funding, Honor is positioned to expand nationally with greater speed and strength.
More specifically, we will be able to accomplish these important things:
- Enter new markets more quickly by partnering with local, top-rated home care providers.
- Enhance the care experience for our clients, their families, and professional caregivers across the US.
- Further invest in and develop our proprietary technology and care delivery platform.
- Hire more great people who share Honor’s mission and are committed to elevating the quality of care for our older population.
Over the last few years, we’ve grown quickly by leveraging our technology and partnering with independently owned home care agencies and other integrated senior care providers. Our unique partnership model allows us to share our large talent pool of professional caregivers—we call them Care Pros—and deliver personalized care at scale. Today, we provide care for older adults in over 1,000 communities in six states and have provided over five million hours of care through the Honor Care Network.
And our model is working better for everyone.
- Clients receive the high-quality support they need to live independently at home as they age—now more important than ever during the COVID-19 pandemic.
- Care Pros have access to better employment opportunities, including more consistent hours and control over their schedules.
- Agency Partners gain back-end operational support and access to thousands of Honor Care Pros so they have more time to focus on serving clients and growing their business.
It’s been an incredibly rewarding journey—and we’re just getting started. With this round of funding, we’ll continue working hard to transform the home care industry and to improve care for families everywhere. We’re so thankful for our investors, HCN Partners, and supporters who share in this vision.
Want to join us on our mission? We’re hiring talented, passionate Care Pros and other professionals.