There are a few ways you can find in-home care for your loved ones: You can go by doctor or hospital referrals, through agencies, or look online for someone to help. None of those options is ideal, though, and many times families end up settling for the first or second caregiver they interview. TenderTree thinks there’s a better way, and is building out its own marketplace of caregivers to choose from. And investors agree, putting $1.3 million to help it expand.
TenderTree wants to provide a way for folks to find in-home caregivers that are perfect for their family members. It performs background checks on all the caregivers who apply and checks their accreditation and skills to ensure they’re up to snuff — and also to find out where they might fit best. It handles all the billing and payment, and even has a $3 million liability insurance policy for those who use the platform after a hire has been made.
We learned about TenderTree earlier this spring, when it first launched into private beta. Then it was one of our favorite companies at 500 Startups Demo Day. Ever since it’s been quietly growing its business in the San Francisco Bay Area.
So far the plan has been working: Co-founder Andy Agrawal told me by phone that the company has been growing revenues 120 percent each quarter, even though it’s only in private beta. After just six months, it’s had more than $100,000 in care booked through the platform.
To expand further, TenderTree has raised $1.3 million in seed funding. The round comes from Scott and Cyan Banister, Denis Grosz, Expansion Venture Capital, Inspiration Ventures, Deciens Capital, 500 Startups, and other angels. Agrawal said the startup plans to hire more developers and customer acquisition types to continue growing its business. In the meantime, it’s remaining in private beta and staying local before expanding to other markets.