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The Helper Bees, a tech-enabled, non-skilled home care provider covered by  insurance, raised a $35 million Series C, CEO Char Hu tells Axios exclusively. 

Why it matters: The fresh capital will help the company break into Medicaid.

Zoom in: The round was led by Centana Growth Partners. Insiders Silverton Partners, Impact Engine, Northwestern Mutual Ventures and Alumni Ventures also joined. 

How it works: Founded in 2015, The Helper Bees provides services like home caregiving, home modifications, groceries and meals, pest control, housekeeping, and transportation.

With more than 20,000 credentialed providers, the Austin, Texas company is in network with 43 payers, Hu says.

Some of those payers include private long term care insurance and Medicare Advantage plans, Continental General Insurance, Mutual of Omaha, CNA Insurance and Wellcare.

By the numbers: The company reached profitability last year.

Hu declined to disclose specific revenue figures or current valuation, but says, "This latest round was a strong up round."

What's next: The Helper Bees can "be selective as to when we want to go back out to the markets" for additional funding, Char says. 

Catch up quick: The company has raised $28.3 million prior to this round.

The big picture: As America's population of seniors grows, affordable long-term care is increasingly hard to find.

Stunning stat: Evidence-based data collected over the last nine years has shown The Helper Bees can reduce the rate of institutionalization — or a transition to post-acute, facility-based care —  by one-third, per Char.

This translates to "huge economic savings to whoever is paying," Centana Growth partner Eric Byunn.

Between the lines: As far reimbursement breakdown for services go, for Medicare Advantage, services are covered by the payer for those that qualify. 

Long-term care plans' primary focus is in-home care, typically covered under the policy, offering members essential support to maintain their independence at home. 

Supplemental services—such as yard maintenance, home modifications, or food and meal delivery—are generally considered out-of-pocket expenses .

State of play: Caregiving support has seen a steady stream of deals over the past few years.

Cariloop, a caregiving support platform for employers, raised a $20 million Series C in April 2024. 

Grayce, a caregiver support startup, raised a $10.4 million Series A in June 2024.

Family First, an employee benefit company that helps families with caregiving needs, acquired Cooper Parenting in Aug. 2024.

Exclusive: The Helper Bees raises $35M Series C for home care

As America's population of seniors grows, affordable long-term care is increasingly hard to find.

Illustration of a door mat that says "Welcome," but the L is a cane.

The Helper Bees, a tech-enabled, non-skilled home care provider covered by insurance, raised a $35 million Series C, CEO Char Hu tells Axios exclusively. Why it matters: The fresh capital will help the company break into Medicaid.

Exclusive: The Helper Bees raises $35M Series C for home care

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