Wellthy Raises $25 Million To Support Caregivers
By: James Flippin · May 19, 2023 · Reading Time: 2 minutes
Wellthy, a new startup that lends volunteer caregivers a helping hand, just raised $25 million, bringing its total funding to $77 million.
The startup, a self-proclaimed “tech-enabled care concierge”, aims to help those tasked with caring for an aging parent or loved one. It connects people with a professional caregiver who can assist with following up on doctors appointments, buying equipment or supplies, and providing transportation when necessary.
An Aging Issue
Currently, roughly 1 in 5 American adults find themselves acting as a caregiver to their parents, pulling double or even triple duty, in terms of managing responsibility. Wellthy was built to offer people in this situation an extra pair of on-demand hands. In addition to providing a simple, easy-to-use platform, the startup aims to be a more affordable option than traditional care facilities.
While you can sign up for the service as a private individual, Wellthy’s main focus is partnering with companies to offer caregiver services as a benefit to employees. The startup already works with hundreds of companies, including six of the ten largest companies in the Fortune 500, as well as major employers like Hilton (HLT]), Best Buy (BBY), and Cisco (CSCO).
If your company doesn’t already offer caregiver benefits, it might be worth bringing it up at the next town hall. If the alternative is losing up to 20% of employees to caregiving, offering these services may be in your employer’s best interest — as well as yours.
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