Klass Capital led a $2.4 million financing round in AlayaCare, a cloud-based platform.
Unnamed “prominent” angels also participated in the financing.
“As an organization, we view this investment as an opportunity to dramatically amplify the results for our clients, ultimately leading to better health outcomes patients, the payers or health systems picking up the tab, and the front line care workers delivering the care,” said Adrian Schauer, CEO of AlayaCare, which has offices in Toronto and Montreal.
“We are highly motivated to help the home healthcare sector realize a technology-enabled transformation from provider of periodic visits to provider of outcome-based services that leverage remote patient monitoring,” Schauer added. “This round of financing brings us the funds to accelerate our growth, but it also delivers to our team an unparalleled group of industry and entrepreneurial advisors.”
“We are excited to partner with CEO Adrian Schauer and the AlayaCare team,” noted Daniel Klass of Klass Capital. “Adrian is an exceptional entrepreneur and he has a strong track record of building and operating software businesses.”
“The Home Healthcare industry is a large, addressable market that is ripe for change,” he added. “We strongly believe AlayaCare has the right team and product to become a major player in the market.”
AlayaCare aims to change the game by rolling out a complete software suite for homecare agencies, including scheduling, time reporting, billing, clinical documentation, remote patient monitoring and mobile, and web apps specifically for patients, family members, and care workers to access data, educational content, their care reports and schedules. The startup says that “the consumerization of medical devices and the surge of wearable technologies make this an unparalleled opportunity to revolutionize the paradigm for the delivery of healthcare in the home.”
The company was founded last year.