Lottie, the London-based eldercare online marketplace, has made a significant stride in its mission to transform the elderly care sector. The company recently secured $21 million in Series A funding, with Accel leading the investment round and General Catalyst, a previous investor known for backing Helsing, also participating. This latest funding brings Lottie's total raised capital to $31 million.
The fresh injection of funds will support Lottie in expanding its marketplace coverage across the UK and further enhancing its innovative software solutions for care homes. The company has ambitious plans to invest in artificial intelligence and develop a data insight tool. Additionally, Lottie aims to double its current team of 50 by 2024.
Will Donnelly, Co-Founder and Co-CEO of Lottie, expressed the company's vision: "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."
Sonali De Rycker, Partner at Accel, praised Lottie's mission to modernize the elderly care industry: "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 don’t forget: they’re an ambitious, high-integrity team chasing a significant and important opportunity. We’re excited to be part of their journey."
Chris Bischoff, Managing Director at General Catalyst, added: "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 modernizing 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."
Lottie aims to address the challenges in the UK's elderly care sector, where care home availability has reached its lowest point in over a decade. The process of finding suitable care services is often complex, stressful, and time-consuming, with individuals contacting an average of six services before finding a suitable provider. Government data also reveals a £2.3 billion shortfall in England's care home funding.
Founded in 2021 by brothers Will and Chris Donnelly, Lottie aims to elevate later life for the older generation by modernizing the process of finding care and enhancing care standards across the sector. The platform simplifies the search for care, allowing users to book care online in a manner similar to reserving a hotel room through platforms like Booking.com or Expedia. Lottie enables care seekers to discover, compare, and inquire directly with over 4,000 high-quality care, home care, and retirement living services while providing full transparency of pricing and service availability.
Lottie has already facilitated matches between tens of thousands of families and care and retirement service providers. Beyond its core marketplace, Lottie has developed Found by Lottie, a suite of technology tools designed to upgrade the services offered within care homes, which the company acquired in 2022. This technology-driven approach positions Lottie at the forefront of innovation in the elderly care sector, addressing the growing needs of an aging population.