London, United Kingdom-based free online marketplace that connects care seekers and retirees to UK care homes, home care services, and retirement living communities, Lottie raised USD 21 million in Series A. The round took place on October 9, 2023. Accel led the financing for the company. Previous investor General Catalyst provided the investment. So far, the company’s total financing stands at USD 31 million.
Purpose of financing for Lottie
With the latest financing, Lottie seeks to address the growing social care crisis to elevate the standard of later living by further investing in its suite of technology products that significantly improve the care seeker experience. The company also has plans to expand its 50-strong team based in London, with the aim of doubling headcount in 2024.
The firm also seeks to fund the expansion of its marketplace coverage in the UK and to continue developing the platform’s innovative software offerings for care homes. The company intends to also invest in artificial intelligence and has plans to develop a data insight tool aimed at helping the industry’s key stakeholders make better-informed decisions and help the sector become sustainable in the long term.
What the company’s official has to add
Will Donnelly, Co-Founder and Co-CEO of Lottie, said, “We set out to build Lottie after experiencing firsthand the fundamental issues in the UK social care sector: namely a lack of high-quality, affordable care and an outdated, emotionally taxing process for individuals and families urgently looking to find care for their loved ones. Everyone deserves the best possible quality of life in their later years, and Lottie is helping to drive real change in the care search process while supporting our provider partners in delivering better health outcomes for residents, improved operational efficiencies and huge cost savings via our software products. Our goal for Lottie is to become the trusted adviser to care seekers throughout the world – helping families best understand, find and fund later life care. Over 500,000 Britons now visit Lottie every month, and we’re incredibly excited to have Accel join General Catalyst and Kindred on our journey, helping to fuel our next stage of growth and continue in our mission to elevate later life for everybody.”
What the investors have to comment
Sonali De Rycker, Partner at Accel, further said, “Digital marketplaces have transformed our lives. We expect glossy, transparent, low-touch experiences when booking holidays, buying groceries and doing everything in between. For some reason, eldercare has been left behind. Will and Chris are on a mission to level up an industry stuck in the dark ages. Lottie offers consumers the modern discovery and booking experience they deserve when finding help for loved ones. In parallel, they offer care providers a suite of tools to shift online and upgrade their operations. Meeting Will and Chris is an experience you won’t forget: they’re an ambitious, high-integrity team chasing a significant and important opportunity. We’re excited to be part of their journey.”
In addition, Chris Bischoff, Managing Director at General Catalyst, said, “We believe the Lottie team has made great strides in their mission to provide transparency and support for families searching for quality care. They have demonstrated the ability to collaborate with care partners who share their commitment to modernising home care with sustainability, safety, and quality of life in mind. These values align with our Health Assurance thesis, and we are excited to participate in their positive impact and continued growth.”
About Lottie
Will and Chris Donnelly, who experienced firsthand the struggles of finding affordable care services for family members, launched the company in 2021. Lottie is a digital marketplace that connects care seekers to the UK’s best care homes at a fair price.
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