Carewell Inks $5M Seed Funding

Carewell a leading advocate for caregivers and online supplier of home health products closed over 5 million in seed funding from global venture firm e ventures seed stage specialist NextView Ventures and early-stage investor Primetime Partners which was founded by Alan Patricof and Abby Levy to invest in companies that can transform the quality of living for older adults e ventures Founding Partner Mathias Schilling will join Carewell’s Board of Directors while NextView Partner David Beisel will act as board observer A group of successful entrepreneurs and advisors also joined the round including Chewy com’s former VP of Growth Marketing Jason Klinghoffer and Dia&Co founders Nadia Boujarwah and Lydia Gilbert

In , Carewell co-founders Bianca Padilla and Jonathan Magolnick launched the company after Padilla’s experience as one of the 53 million unpaid family caregivers in the U S -comprising over % of the population Discovering firsthand the lack of guidance on care methods and products they established Carewell to be a much-needed resource and support network for independent caregivers

Through a service model based on trust and responsiveness Padilla and Magolnick have built a loyal customer base and caregiver community by helping them navigate what is often an overwhelming time-intensive socially isolating and emotionally exhausting experience Carewell has earned a Customer Satisfaction Score CSAT of 94-redefining the industry standard for personalized support They will use the funds to expand expert-vetted product offerings simplify ordering and develop educational resources that bring clarity to a confusing landscape in a rapidly growing industry

Now more than ever family members are challenged with providing in-home care for their chronically ill disabled or aging loved ones said Padilla Carewell’s CEO Our mission is to improve the lives of these selfless individuals and help them provide better care We are more than an e-commerce company We are here to support educate and advocate for the long-overlooked caregiving community ”

While the number of family caregivers has been steadily increasing in recent years due in part to an aging baby boomer population COVID-19 has dramatically accelerated the shift to in-home care In fact within the first month of the pandemic Carewell’s revenue doubled and nearly 40,000 unique customers have made purchases since February 2020

Five years ago Bianca and Jonathan saw a need in the market and that need is even more prominent today said Beisel co-founder and Partner at NextView Ventures As the home care industry undergoes a rapid transformation and the number of unpaid family caregivers continues to climb Carewell’s supplies services and support are of critical importance-and we see a tremendous opportunity for growth ”

Carewell brings intuitive and intelligent e-commerce capabilities to the caregiving community To remove the guesswork from shopping and replenishment Carewell now offers a subscription service to automatically reorder high-usage goods for customers-freeing up time and resources for caregivers

Carewell is poised to become a national brand and top-level leader in the home care market said Schilling co-founder and Managing Partner of e ventures Through an empathetic approach and authentic customer engagement they’ve formed a strong community and laid a solid foundation built on trust We’re thrilled to support the Carewell team in expanding their impact and improving the everyday lives of an even greater number of caregivers ”

I found Carewell after searching for the best-priced products for my mother but since then they’ve become so much more They were a true support system through my entire caregiving journey said Dwight Schneider a former caregiver based in Colorado Caregiving is the best and hardest job I’ve ever done but Carewell was with me the entire way not only providing products but they shared meaningful and useful tips advice and support ”

To usher in this new era of growth Carewell has filled key leadership positions including Jeremy Mayes Head of Marketing Josh Miller Director of Engineering Sarah Serbiak Director of Merchandising and Valerie Henderson Director of Content and Communications

About Carewell
Carewell is a Charlotte-based family-led e-commerce company on a mission to improve the lives of caregivers and their loved ones Carewell’s story began in , when its founders were among the % of Americans who act as informal caregivers Unable to find the guidance and selection they needed in one place they formed Carewell to be a source of support for independent caregivers seeking proactive service compelling content and expert-vetted products

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