#London #United Kingdom #Accel-KKR #CareLineLive #home care management

CareLineLive Welcomes Major Investment from Accel-KKR

In a significant move to bolster its growth and product development, CareLineLive, a pioneering home care management software firm, has acquired a majority investment from the technology-focused investment firm, Accel-KKR. This strategic alliance is expected to enhance CareLineLive's capabilities and expand its global presence in the fast-evolving home healthcare market, mainly through its advanced cloud-based platform.

Founded in 2014 by entrepreneur Josh Hough, CareLineLive has transformed the home care industry with its all-encompassing platform that unifies staff scheduling, client visits, patient records, and invoicing. The platform is designed for homecare agencies, making it one of the most comprehensive solutions available. The venture currently supports numerous care providers across seven countries, illustrating its significant role in the global home care landscape.

The home healthcare market is witnessing rapid growth in various regions around the world. According to PolicyBee, the UK's market is valued at £11.5 billion, while the Australian sector is predicted to reach USD 25.7 billion by 2030. In the United States, the home care providers market is estimated to be worth approximately $153.7 billion by 2025. As such, CareLineLive stands at the forefront of a burgeoning industry that plays a vital role in society.

Josh Hough expressed his enthusiasm for this investment, noting that it will expedite the company's growth trajectory and enhance its international outreach. Commenting on the investment, he stated, "Our vision has always been to make homecare better for everyone through the use of technology—for providers, carers, and clients. This investment helps bring that future closer. Accel-KKR's extensive experience in nurturing software companies is a major reason I am excited about this partnership. Their resources will help us enhance our product and deliver even greater value to our customers."

A portion of the investment will go towards establishing customer support in Australia, facilitating around-the-clock service. Hough explained, "As our UK team concludes their day, the Australia team will start—allowing us to support customers anytime." This strategy is a clear indication of the company's commitment to providing uninterrupted service and meeting the needs of its global clientele.

While the exact financial terms of the transaction remain undisclosed, this investment also provides an exit strategy for the early backers, Oakglen and Haatch. Hough extended his gratitude to these investors for their unwavering support over the past decade, highlighting that this marks the beginning of an exciting new chapter with Accel-KKR.

Accel-KKR, known for investing in tech-driven enterprises, underscored the rationale behind their investment in CareLineLive. Maurice Hernandez, Managing Director at Accel-KKR, noted that home care providers primarily seek to deliver respectful and personalized care. Technology can enhance efficiency, compliance, and growth while maintaining a focus on clients’ well-being. "We are excited to support CareLineLive and assist Josh and his team in developing market-leading solutions," Hernandez stated.

In light of this new investment, Hough reassured stakeholders that he and the senior management team would continue leading the company. "There’s a long-term plan in place, but it's business as usual," he added, emphasizing continuity amid the exciting changes ahead.

About CareLineLive

Founded in 2014, CareLineLive is committed to revolutionizing homecare through its comprehensive cloud-based platform, aiding agencies with staff scheduling, client interactions, patient records, and invoicing. The company has become a trusted partner for hundreds of care providers in seven countries and meets stringent NHS requirements, positioning it as a leader in the digital social care framework.

About Accel-KKR

Accel-KKR is a prominent technology investment firm with a cumulative $21 billion in capital commitments. They focus on software and tech-enabled businesses poised for growth and emphasize building strong partnerships with management teams, offering a spectrum of capital solutions from buyouts to minority growth investments. Their operations extend across various transaction types, reflecting a flexible approach to investment, and they maintain offices in Menlo Park, Atlanta, Chicago, London, and Mexico City.