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Homage raises a double-digit fund in Series B round

Singapore-based elder care, fitness and wellness firm Homage secured a double-digit investment from new and existing investors.

Homage is a Singapore-based firm that has a complete solution that combines technology and the best care professionals to enable seniors to age at home with dignity. Founded in 2016 and lunched later in 2017 by Gillian Tee, Lily Phang and Nhat Duong Tong, Homecare was already recognized as one of the top caregiving providers in Singapore.

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Homage (homage.sg)

The caregiving firm reported a double-digit rise in funds in its recently held Series B funding round led by EV Growth. New investors like Alternate Ventures and KDV Capital and existing investor HealthXCapital also participated in the said round.

As a leading care services provider, Homage’s core service includes Care Assessment, Activities of Daily Living (ADL), Home Nursing Procedures and Home Rehabilitation services, including Physiotherapy, Speech Therapy and Occupational Therapy.

Operating in Singapore and Malaysia, Homage works with care recipients with a range of mobility and medical conditions, including chronic and terminal illnesses such as Dementia, Stroke, Parkinson’s and cancer, helping them be more mobile and functional as well as providing social and personal care.

“As we’ve scaled out our core services, we see a strong need to build a network of fully curated, reliable, and trusted care professionals to deliver a holistic range of health care services for our future, making long term health care more accessible and affordable,” said Homage’s Co-founder and CEO, Gillian Tee.

According to Homage, they plan to use the new funds in scaling the delivery of its services by expanding its network of care practitioners, improving professional capabilities, and launching healthcare services.

“In our next phase of growth, we look forward to partnering EV Growth to create more impact in our mission to provide deeper and more personalized support for our long-term care needs,” added Tee.

The caregiving firm also plans to fill the gap of health worker shortages as the number of elderlies exceeds in the following years.

Commenting about the increase of the number of elderlies in-home cares is Willson Cuaca, Managing Partner of EV Growth and co-founder of East Ventures. “Increasing ageing population and a low total fertility rate are inevitable. Urbanization and a fast-paced working environment make caregiving service one of the key services in our daily life… We are proud to be a part of the Homage journey to bring back caregiving with control, grace and dignity,” he said.

“Homage has built a strong presence and capability in Singapore. We want to bring the capability and level of services to Indonesia,” added Willson.

Prior to the recent investment, Homage has secured US$4.15 million in July 2018.