Family First secures $11M for tech-driven caregiver support from Eos Venture Partners and RPM Ventures
Family First, a leading caregiver solution provider that leverages expert knowledge and technology, has announced the successful close of its Series A funding round.
The firm managed to secure $11m in this round. The primary investors leading the funding were RPM Ventures and Eos Venture Partners. Participating in this round were also Wormhole Capital and Stephen Fromm, further boosting the raised amount.
Family First is driven by a mission to address the immense challenges faced by caregivers, a group that encompasses nearly 50 million Americans. The company partners with employers and insurers to avail its services to individuals who are grappling with the dual responsibilities of work and caregiving. With the stark revelation from a Harvard Business School study that over 80% of working caregivers report decreased productivity due to their duties, the need for Family First’s services becomes all the more evident. A staggering $522bn in annual income is lost as a result, as cited by the Department of Health and Human Services.
The recently raised funds are intended to be channelled towards advancing the firm’s mission of tackling the burdensome problems associated with caregiving. Family First aims to identify the core issues that a family might be confronting and establish a comprehensive plan to resolve them.
Evan Falchuk, CEO of Family First, commented on the current state of caregiving, saying, “Caregiving is an unsustainable crisis.” He then confidently added that the crisis “cries out for a bold, comprehensive solution that Family First delivers.”
Adam Boyden, Managing Director of RPM Ventures, expressed his excitement to work with the Family First team, citing the urgent need for caregiving solutions. Jonathan Kalman, founding partner of Eos Venture Partners, praised Family First’s comprehensive and expert approach towards solving caregiving problems.