Axios Pro Exclusive Content

Cariloop corrals $20M to expand caregiver solutions

Illustrated collage of a healthcare worker and a senior citizen.

Illustration: Eniola Odetunde/Axios

Cariloop, a caregiving support platform for employers, raised a $20 million Series C led by ABS Capital, CEO Michael Walsh tells Axios.

Why it matters: Almost 22% of U.S. workers perform caregiving duties for an older, sick, or disabled family member.

How it works: The Richardson, Texas-based employer-sponsored platform connects caregivers to coaches who can offer on-demand, personalized support.

  • Caregivers are offered help finding, booking, and paying for care.
  • Cariloop serves employers including Procter & Gamble, KPMG, CAE, the American Cancer Society, Arthur J. Gallagher, ASPCA, and Insperity.

What's next: Series C funding will get Cariloop to profitability, as well as help build its coaching team.

  • "We do not have plans to raise another round in the next 24 months, barring some significant, event-driven growth opportunity," Walsh says.
  • Cariloop, which generates revenue over $5 million, hopes to "climb to $100 million in revenue, along with increasing headcount in Dallas and elsewhere to support our members and caregivers," he adds.

Zoom in: Existing investors Noro-Moseley Partners, KCRise Fund, Revolution's Rise of the Rest Seed Fund, and Patterson Thoma Family Office participated in the fundraise.

Catch up quick: Founded in 2012, Cariloop has raised $24 million to date before this round, most recently taking in a $15 million Series B in 2021.

State of play: As baby boomers age in place, the need for caregiving has never been greater and investors are pouring in dollars.

Go deeper