A London-based care-tech start up that has just raised $6.2m (£4.4m) in private capital will use part of the funding to launch an online shop for dementia products and equipment.
Lifted, which secured the cash in a Series A funding round led by Fuel Ventures, wants to create the world’s first “one-stop shop” for everything needed to find and maintain care for a loved one, starting with those living with dementia.
It aims to build the first “app-led care experience” for families and develop data-led gamification tools for carers to boost engagement and retention.
The number of people caring for adult loved ones has increased exponentially during the pandemic with almost one in two people supporting people outside their household.
With the market set to double, care homes unpopular, and the government yet to put forward a long-term plan for social care, Lifted believes it is addressing a huge commercial opportunity and social need.
Using its bespoke Care Management Platform, Lifted aims to provide a seamless and joyful care experience that increases peace of mind for families and improves working conditions for carers.
As an initial step in its journey, Lifted has acquired Live Better With Dementia and launched the ‘Lifted Dementia Hub’, an online community serving 40,000 people with a new marketplace of products specifically designed to support people living with dementia.
Rachael Crook co-founded Lifted with Sam Cohen after experiencing firsthand how stressful and isolating navigating the care sector can be when, at the age of 24, her own mother was diagnosed with dementia at 56.
She said: “In the last year, the number of people caring for loved ones has dramatically increased. At Lifted we believe no one should care alone. We are unique in revolutionizing the experience of care for the whole family and for carers, enabling families to live great lives even in the toughest of times.
“In 12 months, we have tripled revenue, launched the first app in the world to offer free care advice, and cut Carer churn to half the industry average, all while maintaining exclusively five- star reviews on Trustpilot.”
“The care market is enormous and set to double, yet there has been a chronic lack of investment to address the scale of the challenge. We are hugely excited to scale the business and give more families and Carers the care experience they deserve.”
The latest funding round takes the total amount raised by Lifted to $11.2m (£7.9m). 1818 Venture Capital has also increased its investment, while new investors include Novit Ventures, Perivoli Innovations, the J.B. Ugland family office and a number of Angels.