Combined with an aging population who also need care, all of this is having a major impact on those caregivers: 80% said that helping loved ones had impacted their own mental health and 65% reported needing more assistance addressing their own mental health. This is Carewell's first funding round since it raised $25 million in 2021. Founded in 2017, Carewell was started when founder and CEO Bianca Padilla watched her own mother take care of her ailing grandmother. Now that it has this new funding, Carewell plans to use it to fuel its growth strategy, bolster its e-commerce technology, and enhance overall customer experience, focusing on improved service and an expanded suite of products. Klinghoffer participated in Carewell's $5 million seed funding round in 2020.

Source: Forbes February 22, 2024 19:13 UTC