Amid a slowdown in funding for startups, the senior tech firm Naborforce has secured $9 million in a Sequence A.
The corporate “connects older adults to a community of trusted ‘Nabors’ for on-demand help and social engagement.” Its financing spherical was led by Translink Capital. Current buyers Claritas Capital, The Artemis Fund and TechStars additionally participated within the spherical.
Naborforce will use the financing to speculate additional in its inside expertise and to rent extra expertise throughout the nation, in keeping with a press launch.
“We’re excited to have Translink Capital as our associate throughout this subsequent part of Naborforce’s progress,” Naborforce CEO and founder Paige Wilson mentioned within the launch. “Translink has a formidable monitor file in efficiently rising direct-to-consumer corporations into family nationwide manufacturers, they usually share our imaginative and prescient for leveraging expertise as a method to make a large impression in communities and the lives of older adults.”
The corporate’s gameplan appears to be similar to the prevailing senior companionship startup Papa, which has reached unicorn standing and expanded throughout the nation by its “Papa Buddies” and partnerships with well being plans.
Papa lately laid off 15% of its workforce.
“Naborforce is powered by Nabors serving to neighbors,” Wilson mentioned. “All through historical past, as individuals have sought help as they aged, they’ve turned to household and their neighborhood. However right this moment’s households are extra dispersed and sandwiched between elevating youngsters and caring for getting old family members, and communities aren’t as close-knit as they as soon as have been.”
The corporate will leverage a “fastidiously vetted community of native Nabors” to help seniors getting old in place.
“Translink Capital firmly believes within the energy of connection to deal with a number of the world’s most urgent challenges,” Eric Hsia, Managing Director of Translink Capital, mentioned within the press launch. “We’re energized by the confirmed mannequin for neighborhood engagement and household help that Naborforce supplies by each its expertise platform and its community of purpose-driven Nabors. Naborforce is the way forward for getting old at residence.”