SAN FRANCISCO — Honor, a fast-growing company offering high-quality home care for older adults, has raised $42 million in Series B funding led by Thrive Capital. Additional investors include 8VC, Andreessen Horowitz, and Syno Capital.
After announcing $20 million in funding in April of 2015, Honor launched service in the San Francisco Bay Area and Los Angeles. Honor has developed a model that allows the company to provide high-quality care – while driving down costs for families and driving up wages for caregivers through W2 employment. Honor has also partnered with the best and brightest industry advisors and organizations, including the American Cancer Society and National Parkinson Foundation.
This new $42 million investment brings the total raised to date to $62 million. And with an exceptional team of supporters, Honor can accelerate product development and enhance go-to-market growth strategy.
“This investment means Honor can deliver high-quality, personalized home care to more people. And, we can continue to enhance our smart, easy-to-use technology that makes it fast and effective for families to receive and manage quality care,” said Honor CEO and Co-Founder Seth Sternberg. “Modernizing home care does not just help our loved ones, it elevates caregivers as well. Now, more women and men can benefit from jobs that help them grow and care for their own families while they improve the lives of others.”
“Honor is poised to transform the home care industry with its unique business model and unparalleled technology. Thrive Capital is proud to back this experienced team that is focused on bringing quality care to aging adults with a clear understanding of the needs of people and the challenging healthcare landscape,” said Joshua Kushner, Founder of Thrive Capital.