Abby Care Secures $82M in Series C Funding Led by Transformation Capital

Abby Care, a Chicago, IL-based provider of a home-care platform that trains and legalizes family members to become paid caregivers, has secured $82 million in a Series C funding round.

The round was led by Transformation Capital, with participation from CVS Health Ventures, Frist Cressey Ventures, and Melinda French Gates’ Pivotal Ventures, alongside existing insider investors Khosla Ventures, Thrive Capital, and Sequoia Capital.

The company will use the funding to expand its caregiver training programmes, enter additional states, improve its care coordination technology, and establish more reimbursement partnerships with healthcare payers.

What is Abby Care?

Abby Care provides a platform that helps family members become trained, certified, and paid caregivers for relatives with disabilities or chronic conditions.

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The company works with health plans to arrange home care and helps families navigate state-sponsored caregiving programs. Its platform supports caregiver training, onboarding, compensation, and care coordination.

How Much Funding Has Abby Care Raised?

Abby Care raised $82 million in its Series C funding round. The source does not provide details of its previous funding rounds or total funding raised to date.

Who Invested in Abby Care’s Series C?

The $82 million round was led by Transformation Capital.

Other participating investors include:

• CVS Health Ventures
• Frist Cressey Ventures
• Pivotal Ventures
• Khosla Ventures
• Thrive Capital
• Sequoia Capital

Why the Funding Matters

Abby Care will use the funding to expand its caregiver training programmes, enter additional states, improve its care coordination technology, and establish more reimbursement partnerships with healthcare payers.

Who founded Abby Care?

Abby Care was founded in 2022 by Havi Nguyen and is headquartered in Chicago, Illinois.

The company operates as a Medicaid provider and helps families access state-supported home-care programmes.

“The question I kept asking myself was: Who’s that one person in the child’s life who’s not going to turn away, and is able to be with them to deliver that care?” Nguyen said. “Parents were always willing to raise their hand and step up.

Much has been made of the pressures on the health care workforce in the U.S., from the burnout of doctors and nurses to the extant and looming labor shortages. The caregiving gap for patients at home is notably wide, said Justin Brock, general partner at CVS Health Ventures.

Market and Business Growth

Abby Care works with health plans to arrange care for people who need support at home. Its platform helps family caregivers complete training, and certification requirements, and receive payment for their work.

The company focuses on addressing gaps in home-based care, particularly for people with disabilities and chronic conditions.

What Happens Next?

Abby Care plans to expand into more states, strengthen its caregiver training programmes, improve its technology platform, and build additional partnerships with healthcare payers.

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