SG-based caregiving, healthcare startup Homage raises $30m for overseas expansion

Homage, a Singapore-based technology-led caregiving and health startup, announced raising $30 million in a Series C funding round that will finance the expansion of its overseas footprint and B2B operations.

The funding round was led by Sheares Healthcare Group, a wholly-owned healthcare enterprise of global investment firm Temasek. New investors DG Daiwa Ventures and Sagana Capital and existing investors East Ventures (Growth), HealthXCapital, SeedPlus, Trihill Capital, and Alternate Ventures also participated in the funding round.

According to the announcement, the oversubscribed Series C funding becomes one of the largest financing rounds raised by an on-demand care platform in Southeast Asia and Oceania regions.

Khoo Ee Ping, chief corporate development officer of Sheares Healthcare, will be joining Homage’s board of directors as part of the funding round.

Homage experienced significant growth in 2021 with regional business outside Singapore headquarters growing more than 600% year-over-year and the group more than tripling its revenue in the past year.

The startup said it will use the latest financing to further accelerate its regional expansion and continue to scale its platform with the support of strong local and regional partners.

This latest investment will also further strengthen Homage’s leadership in the long-term care and elder tech categories as the only fully curated platform of daily living assistance, social and clinical care to older adults and families in Southeast Asia and Oceania, according to the statement.

The company has built a regional network of more than 6,000 fully screened, trained, and curated care professionals, including certified and trained caregivers, licensed nurses, care navigators, and board-certified therapists and physicians.

“Our mission is to make everyday care for older adults and the chronic-ill personalised, accessible as well as cost-effective. By combining high touch with high tech, we have been able to prove that we improve the lives, health and wellness outcomes of our care recipients and families at scale,” said Homage founder and CEO Gillian Tee.