AlayaCare Poised for Growth at a Pivotal Moment in Home Healthcare
AlayaCare Founder and CEO Adrian Schauer recently told us about his bi-weekly company memo, which he always ends with a team member’s anecdote of a personal home care experience. Motivation to change a fragmented system is the glue that binds his team of 190 people; their people-first approach is also a key reason we first invested in the company over a year ago, when they were less than half their current size, and overflowing their tiny headquarters in Montreal.
Today, that spark of purpose and passion has pushed AlayaCare towards becoming the default, global software platform for delivering clinical-grade services at home. AlayaCare has delivered on its promise to customers by building a virtual care product that complements in-person visits; they have also created a simple yet powerful way to for home care agencies to manage hyper-localized and onerous compliance requirements. With their acquisition of Canesto Systems, AlayaCare has emerged from discovery to scale.
As a repeat entrepreneur but relative newcomer to the home healthcare industry, Adrian took on the complexities of change with a clear-minded approach and has been an outstanding partner to work with over the past year. We continue to be inspired by his deep commitment to fostering a people-first organization; a value that telescopes far beyond company building, to business as a force for good — helping people to live exponentially better lives.
Why Growth, Why Now?
A sea of change is underway that will allow for a product-focused platform like AlayaCare to become a dominant global player in home healthcare management. At the heart is a regulatory and market shift to embrace client-directed care; and with this, the rise of a competitive landscape for home care agencies.
Facing a rapidly aging population suffering from chronic illnesses, hospitals and nursing facilities strain to meet demand; in turn, with a loosening of regulations, patients are increasingly opting to have medical procedures administered in their homes. Traditional home care agencies have struggled to balance nurse practitioners with personal aides due to antiquated and limited software solutions — but with shifting demands, the workforce and its administrators are leveling up. Providers are looking to reduce excessive employee turnover rates through courting a more skilled labor pool, while also seeking efficiencies. In such an environment, an intuitive, intelligent workforce and care management solution is critical.
In addition, as governments increasingly compensate healthcare providers based on outcomes rather than services rendered, homecare agencies need better tracking and insights into employee performance, client care regimens, and progress. Data is suddenly king in an industry that has seen little change over the past several decades, and with that comes a need for a company that can make sense of it all, while also improving the personal experience for providers, patients, and families.
AlayaCare has the potential to create a gold standard in home care delivery, by consolidating what is currently a fragmented industry of small, outdated technology providers, and streamlining a best-in-class patient-driven, ultra-personalized care platform. Consolidating this market requires not only a well-oiled M&A playbook, but sufficient growth capital, and the operational capacity to properly account for a complex web of regulations and processes.
We are honored to have partnered with Alayacare and witnessed its evolution from humble beginnings to setting the industry standard for high-quality homecare, thanks to its rapidly growing global customer base. Today we’re pleased to announce our renewed commitment to support Adrian and his team on that journey by leading the company’s CDN $51M Series C round. As part of this investment, Inovia General Partner Dennis Kavelman is joining the board to further support the company as it scales.
