Lottie, an online marketplace for care services in the UK, announced today it has raised £16.35M ($20M) in a Series A funding round.
According to an Oct. 9 announcement, the round was led by Accel and saw participation from prior investor General Catalyst, bringing Lottie’s total funding to £25M ($31M).
Lottie, launched in 2021 by brothers Will and Chris Donnelly, addresses the mounting social care dilemma in the UK. With care home availability at its most scarce in over a decade and a current £2.3 billion shortfall in England’s care home funding, seeking suitable care for seniors has become increasingly challenging.
The average person reportedly contacts around six providers before securing appropriate care. Lottie seeks to modernize this process, streamlining it similarly to booking a hotel on platforms like Booking.com.
The platform grants care seekers access to over 4,000 vetted care living services
The platform grants care seekers access to over 4,000 vetted care, home care, and retirement living services, allowing them to easily compare, inquire, and book. It also provides a transparent view of pricing and availability.
Beyond its central marketplace, Lottie also offers a suite of tools titled “Found by Lottie,” acquired in 2022. These tools provide care providers with resources to efficiently manage their operations, including real-time bed availability.
Over the past year, Lottie reported a 300% growth in customers and revenue, with over half a million monthly users. Additionally, they introduced home care to their platform, presenting a “Direct to Carer” solution, allowing users to bypass agencies for a more direct, empowered selection process.
The new investment will facilitate the expansion of Lottie’s reach in the UK, further development of their innovative software for care homes, and exploration into artificial intelligence solutions. The company also plans to unveil a data insight tool to assist industry stakeholders in making informed decisions to ensure the sector’s sustainability.
Featured Image Credit: Photo by Vlada Karpovich; Pexels; Thank you!
