Honor and Home Instead Logo
<p><strong><span class="xn-location">SAN FRANCISCO </span></strong>&#8212; <u>Honor Technology, <a href="https://c212.net/c/link/?t=0&;l=en&;o=3311974-1&;h=238538021&;u=https%3A%2F%2Fwww.joinhonor.com%2F&;a=Inc" target="_blank" rel="nofollow noopener">Inc</a></u><a href="https://c212.net/c/link/?t=0&;l=en&;o=3311974-1&;h=3811073765&;u=https%3A%2F%2Fwww.joinhonor.com%2F&;a=." target="_blank" rel="nofollow noopener">.</a>, the world&#8217;s largest senior care network and technology platform, has raised <span class="xn-money">$70 million</span> in Series E funding and <span class="xn-money">$300 million</span> in debt financing. The round brings Honor&#8217;s total equity funding to date to <span class="xn-money">$325 million</span> and values the company at over <span class="xn-money">$1.25 billion</span>.</p>
<p>Honor recently acquired global home care provider Home Instead.</p>
<p>Honor&#8217;s technology and operations platform, paired with Home Instead&#8217;s global network and relationship-based care, will serve as a foundation for a dramatic increase in innovation investment to benefit professional caregivers and clients through expanded offerings.</p>
<p>Baillie Gifford led the equity financing with participation from existing investors including funds and accounts advised by T. Rowe Price Associates, Inc., Home Instead founders <span class="xn-person">Paul and Lori Hogan</span>, Prosus Ventures, Andreessen Horowitz, Thrive Capital, FMZ Ventures, Rock Springs Capital, Lighthouse Capital Markets, and TriplePoint Capital. Perceptive Advisors led the debt financing with a significant commitment from Ares Management funds.</p>
<p>The funding will be used to further invest in Honor&#8217;s groundbreaking operations and technology capabilities and expand it across the Home Instead network. Honor is fundamentally transforming the delivery of home care in the fast-growing, highly fragmented <span class="xn-money">$83 billion</span> worldwide home care market spread across 21,000 individual agencies in the U.S. alone.</p>
<p>&#8220;The Honor technology platform is positioned to become the backbone for the Home Instead network, providing an even better end-to-end human experience for professional caregivers and clients,&#8221; said <span class="xn-person">Seth Sternberg</span>, co-founder and CEO of Honor. &#8220;In the coming years, this technology will open a channel to allow seniors more streamlined access to the products and services they need at home – creating the most advanced ecosystem to serve the aging population around the world.&#8221;</p>
<p>Honor&#8217;s proprietary technology platform creates a better human experience by extracting insights to match the right caregivers with the right clients based on a range of personalized factors and assists with caregiver recruiting, training, scheduling, and performance analysis. The technology improves as the company scales, learning from expanding data points to further optimize performance. This tech-enabled approach strengthens the relationships between professional caregivers and clients while streamlining business operations, centralizing care and reducing turnover – ultimately increasing the ability of Honor and Home Instead to meet rapidly growing demand.</p>
<p>&#8220;With our new global scale, we are excited to accelerate the rollout of our game-changing care delivery platform. We&#8217;re looking to <u>triple the size</u> of our engineering and product team within the next year,&#8221; said <span class="xn-person">Sandy Jen</span>, co-founder and chief technology officer for Honor. &#8220;We are aggressively recruiting product hires, from designers to developers who want to solve real-world problems and build with purpose to solve a massive societal need. We&#8217;re trailblazing in an industry that takes care of our parents – and ultimately our solutions will take care of our own generation when we&#8217;re older.&#8221;</p>
<p>Since its Series D funding round in <span class="xn-chron">October 2020</span>, Honor has added hundreds more caregivers—whom they call Care Pros—and expanded its care delivery platform to four new states. In <span class="xn-chron">August 2021</span>, Honor acquired Home Instead, the leading global franchisor of personalized, in-home care services. Today, the combined company serves over 100,000 older adults around the world every month, providing more than 80 million hours of care annually.</p>

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