Honor, an online healthcare service booking platform that connects in-home caregivers, seniors, and their families, raised $70 million in Series E funding and $300 million in debt financing.
The company’s latest funding round comes a year after completing a $140 million Series D. It raised $50 million in Series C financing in 2018. The Series E round brings Honor’s total equity funding to date to $325 million and values the company at over $1.25 billion.
Baillie Gifford led the equity financing round with participation from funds and accounts advised by T. Rowe Price Associates, Home Instead founders – Paul and Lori Hogan, Prosus Ventures, Andreessen Horowitz, Thrive Capital, FMZ Ventures, Rock Springs Capital, Lighthouse Capital Markets, and TriplePoint Capital.
The debt financing was led by Perceptive Advisors, with participation from Ares Management funds.
The company plans to invest the latest funds to invest in its operations and tech platform and expand it across the Home Instead network.
According to Honor, its platform helps clients find and book caregivers. The company partners with home care agencies to manage operations for their caregivers.
“With our new global scale, we are excited to accelerate the rollout of our game-changing care delivery platform. We’re looking to triple the size of our engineering and product team within the next year,” said Sandy Jen, co-founder and chief technology officer for Honor.
“We are aggressively recruiting product hires, from designers to developers who want to solve real-world problems and build with a purpose to solve a massive societal need. We’re trailblazing in an industry that takes care of our parents – and ultimately, our solutions will take care of our generation when we’re older.”
Online healthcare appointment booking companies have raised $334 in the first half of 2021. Online doctor’s appointment booking platform Solv Health announced the close of its $45 million Series C funding round led by Acrew Capital and Corner Ventures.