Cariloop raises $6 million

Cariloop, the caregiver support company that combines care coaching services and cloud-based tools to help families as they plan for and manage the health and wellbeing of their loved ones, has completed a $6 million Series A round of financing led by Patterson Thoma Family Office, with participation from Revolution’s Rise of the Rest Seed Fund, ACAP Health, KCRise Fund, MPK Equity Partners and Patrick McGee, and other existing investors and partners. The investment brings Cariloop’s total funding to $8.2 million.

Founded in 2012, the Dallas, TX-based company is “arming families with the world’s first human-powered caregiver support platform.” The platform combines professional healthcare coaching services and tools that help families plan for and manage every aspect of their caregiving journey.

Aside from working with individuals, Cariloop also works with organizations to help craft caregiver support programs for their employees. As part of this effort, Cariloop helps to identify the risks these employers face as a growing number of their employees are called to provide care to a loved one while balancing work responsibilities. Cariloop’s team then works with each organization to educate and engage employees at any point in their caregiving journey and, through Cariloop’s platform, professionally guide employees and families in times of need, reduce the stress and anxiety they experience, and ultimately curtail and manage the risk factors at play.

“Our team at Cariloop has always believed that no one should ever have to go through caregiving alone. With this new round of financing completed, we can rapidly expand the coalition of employers and partners we work with and reach more caregivers and families in need of help.” – Michael Walsh, Cariloop’s cofounder and CEO.

“Cariloop helps ordinary people manage the extraordinarily complicated and stressful reality of caregiving for family members. While this issue is suddenly at the forefront for millions of Americans and tens of thousands of businesses, the writing has long been on the wall: a ballooning aging population, an increasingly complicated and costly healthcare system, and a tech-enabled “always-on” workforce mentality have collided in a way that increases human stress and decreases workforce productivity. We are proud to partner with Cariloop who has a years’-long head start at solving this problem.” – Anna Mason, partner at Revolution’s Rise of the Rest Seed Fund.

“The Cariloop team is mission-driven to be there for every family faced with difficult decisions for loved ones. KCRise Fund saw many synergies to help the employee families of our corporate investors and to help families both locally in Kansas City and all over the globe. It takes a village to build a world-class company and we are excited to join them on their journey.” – Darcy Howe, KCRise Fund’s Managing Partner.