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Illustration: Sarah Grillo/Axios

Honor, a San Francisco-based provider of tech-enabled senior care services, raised $140 million in Series D funding co-led by Baillie Gifford and T. Rowe Price.

Why it's the BFD: The pandemic has heightened the importance of home care for seniors, as many have sought to avoid nursing homes or other forms on inpatient services.

Other investors included Rock Springs, and return backers Andreessen Horowitz, Prosus Ventures, 8VC, and Thrive Capital.

Backstory: Honor got a term sheet last November from SoftBank, which offered to lead a $140 million investment. But SoftBank bailed one month later, which forced Honor to scramble. It raised a few million dollars from existing equity backers, plus an undisclosed amount of debt.

The bottom line: This is the second company in two days to tell me that it expects its pandemic-related spend to pay dividends long after there's a COVID-19 vaccine. CEO Seth Sternberg says that many of the pandemic-related products that Honor spun up, such as caregiver health screening tech, have helped increase 2020 margins and are expected to be used indefinitely, since no early vaccine is expected to be 100% effective.

Go deeper

SoftBank says it's back

Illustration: Aïda Amer/Axios

SoftBank Vision Fund posted a nearly $18 billion operating loss for the fiscal year ended in March, and wrote down about 75% of its WeWork investment — but who cares if it managed overall gains of $9.6 billion, right? At least, that's the message SoftBank execs are expected to deliver to investors later today in a briefing focused on the two Vision Funds, according to a source familiar with the fund.

Why it matters: SoftBank famously raised about $100 billion in 2017 to back big tech unicorns, but disappointing bets like WeWork and Brandless raised questions about Vision Fund's, well, vision.

52 mins ago - Sports

The end of COVID’s grip on sports may be in sight

Illustration: Aïda Amer/Axios

Packed stadiums and a more normal fan experience could return by late 2021, NIAID director Anthony Fauci said yesterday.

Why it matters: If Fauci's prediction comes true, it could save countless programs from going extinct next year.

Trump's 2024 begins

Trump speaking to reporters in the White House on Thanksgiving. Photo: Erin Schaff - Pool/Getty Images

President Trump is likely to announce he'll run again in 2024, perhaps before this term even ends, sources tell Axios.

Why it matters: Trump has already set in motion two important strategies to stay relevant and freeze out other Republican rivals. 

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