A London-based company dedicated to providing comparison of care homes and home care providers has received £6 million in a new funding round.
Lottie, a free-to-use digital healthcare marketplace and concierge service, is now reportedly valued at £45 million after this latest funding round.
The company was started by brothers Chris and Will Donnelly in July 2021 after the pair struggled to find an appropriate care service for their grandmother.
Lottie allows care and retirement service seekers to locate and compare the UK’s later-life living options by quality and cost.
This latest funding round was led by US venture capital firm (and backer of Airbnb) General Catalyst.
The £6.125m added to the company’s finances will facilitate national expansion of the platform, as well as investment in new digital tools for care providers.
Lottie also hopes to make further inroads into the thriving retirement living sector and boost the growth of Seniorcare, the company’s eldercare employee benefit portal.
Having raised £9.025m to date (pre-seed and seed), Lottie now employs ten times as many staff as it did in November 2021, with 40 team members on the books.
Will Donnelly said: “COVID-19 has supercharged the move of the later living industry from offline to online, from the initial search process and how care seekers engage with later living communities, through to the adoption of digital care plans and new operational technologies.
“As well as assisting families and retirees in making important life decisions, Lottie is now helping our partner communities, both care and retirement, transition to the post COVID-19 digital world.
“Lottie’s operational technology is already being used by hundreds of the UK’s most forward thinking later living providers, which has been fundamental in allowing an improved customer experience, but also delivering better health outcomes for residents, and, in the long-term, will help deliver a sustainable industry which can meet the care needs of our rapidly ageing population.”
Fellow co-founder and Forbes Europe’s 30 under 30 alumni, Chris Donnelly, added: “After closing with Kindred in January, we experienced unprecedented demand from funds. The first few months of 2022 have been hugely successful for us, so we decided to bring General Catalyst on by extending the seed round to further support our growth in the industry.”