Toronto-based AlayaCare, which provides cloud software for home care providers, has raised a $13.8 million Series B led by iNovia Capital.
Chrysalis and existing investor Fonds Innovexport also participated in the round. AlayaCare raised $2.4 million from Fonds Innovexport in September 2017 and announced that it would receive up to $750,000 from FedDev Ontario in July 2017.
AlayaCare’s platform allows home care providers to manage services like scheduling, time reporting, clinical documentation, remote patient monitoring, and mobile and web apps specifically for family members, patients, and care workers.
AlayaCare plans to use the funding to continue its expansion in the US market, and invest further in its technology.
“We’re passionate about helping our clients deliver better patient outcomes and this funding means we can accelerate through our roadmap and evolve our product more rapidly,” said Adrian Schauer, CEO of AlayaCare. “Continuing to invest in AI, machine learning capabilities and optimization science is a priority as our increasingly robust platform means clients can lower their operating costs while improving their ability to provide care, detect adverse effects, and help reduce hospital readmissions.”
AlayaCare plans to use the funding to continue its expansion in the US market, and invest further in its technology. AlayaCare said iNovia Capital principal Magaly Charbonneau will also join the company’s board of directors.
“We share Adrian and AlayaCare’s vision to fundamentally improve the way home and community care services are provided by better leveraging technology,” said Charbonneau. “AlayaCare gives its clients the ability to make more informed, data-driven decisions, and its understanding of the marketplace, paired with deep client relationships, will drive continued growth and success.”
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