Total amount raised
$45.2 Millions
Latest funding date
Location
Homage has successfully raised significant funding over multiple rounds, including a Series C round where they secured SGD 40,000,000. The platform offers a range of caregiving services, connecting users with trained care professionals for home, hospital, and online care.
Keep reading to explore the intricacies of Homage's fundraising journey and the investors backing this innovative platform.
What Is Homage?
Homage, founded in 2016, is a healthcare company based in Singapore. The company operates in the elder care, health care, home health care, nursing and residential care, therapeutics, and wellness industries.
Founded by Gillian Tee, Lily Phang, and Nhat Duong Tong, Homage employs between 101 and 250 people. The company offers a range of non-medical and medical services, including disability assessments, daily living assistance, nursing procedures, and rehabilitation services.
Homage also provides health screening, mobile medicine, telemedicine, ambulance, and medication delivery services. Their services are available in Singapore, Malaysia, and Australia, supported by a large pool of trained care professionals.
How Much Funding Has Homage Raised?
- Seed Round
- Amount Raised: $1.2M
- Date: March 2017
- Lead Investors: 500 Global, Golden Gate Ventures, SeedPlus
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To establish the company and develop initial service offerings.
- Series A
- Amount Raised: $4.2M
- Date: July 2018
- Lead Investors: Golden Gate Ventures, HealthXCapital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand service offerings and scale operations.
- Series B
- Amount Raised: $10M
- Date: January 2020
- Lead Investors: EV Growth
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To enhance technological capabilities and expand into new markets.
- Corporate Round
- Amount Raised: Not publicly disclosed
- Date: September 2020
- Lead Investors: Infocom
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To form strategic partnerships and integrate with corporate healthcare systems.
- Series C
- Amount Raised: $30M
- Date: September 2021
- Lead Investors: Sheares Healthcare Group
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To accelerate regional expansion and scale the platform.
Total Amount Raised: $45.4M
Current Valuation: Not publicly disclosed
Key Investors
- Sheares Healthcare Group
- Details: Sheares Healthcare Group is a wholly-owned healthcare enterprise of Temasek, a global investment company headquartered in Singapore. The group focuses on building and investing in healthcare delivery assets and services.
- Investment Focus Areas: Healthcare enterprises, integrated healthcare ecosystems, technology-enabled healthcare services.
- Notable Investments: Homage, IHH Healthcare, Columbia Asia.
- Infocom
- Details: Infocom is a corporate investor involved in the healthcare sector. They participated in Homage's corporate round in September 2020.
- Investment Focus Areas: Healthcare technology, digital health solutions, corporate healthcare systems.
- Notable Investments: Homage.
- EV Growth
- Details: EV Growth is a venture capital firm that focuses on growth-stage companies in Southeast Asia. They led Homage's Series B round in January 2020.
- Investment Focus Areas: Technology, healthcare, consumer sectors.
- Notable Investments: Homage, Sociolla, Warung Pintar.
- Golden Gate Ventures
- Details: Golden Gate Ventures is a venture capital firm based in Southeast Asia, investing in early-stage technology companies. They have been involved in multiple funding rounds for Homage.
- Investment Focus Areas: Technology, consumer internet, fintech.
- Notable Investments: Homage, Carousell, RedMart.
- HealthXCapital
- Details: HealthXCapital is a venture capital firm specializing in health technology investments. They have participated in several funding rounds for Homage.
- Investment Focus Areas: Health technology, medical devices, digital health.
- Notable Investments: Homage, Biofourmis, MedikaBazaar.
What's Next for Homage?
Homage stands at the cusp of significant growth opportunities, driven by the increasing demand for personalized and accessible care services in Southeast Asia and Oceania. The company plans to leverage its recent funding to enhance its technology and expand its regional footprint, particularly in Malaysia and Australia. This expansion is expected to be substantial, given the company's impressive 600% year-over-year growth outside Singapore.
Future fundraising opportunities appear promising, with strong interest from both new and existing investors. This financial backing will be crucial as Homage aims to integrate with aged and disability care infrastructures and form strategic partnerships with hospitals and care providers. However, the company may face challenges in managing rapid growth, navigating diverse regulatory environments, and maintaining the quality of care across different regions.
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