Singapore-headquartered caregiving and health platform Homage announced on Monday it has secured a $30 million Series C financing round led by Sheares Healthcare Group, a wholly-owned healthcare enterprise of Singapore state investor Temasek.

Joining Sheares Healthcare in this Series C round are new investors including DG Daiwa Ventures and Sagana Capital, alongside existing investors including East Ventures (Growth), HealthXCapital, SeedPlus, Trihill Capital and Alternate Ventures, Homage said in a statement.

The oversubscribed round makes it one of the largest financing rounds raised by an on-demand care platform in Southeast Asia and the Oceania region and brings Homage’s total funding to exceed $45 million.

As part of this funding round, Sheares Healthcare Chief Corporate development Officer Khoo Ee Ping will be joining Homage’s board of directors.

Homage experienced significant growth in 2021 with regional business outside Singapore Headquarters including Malaysia and Australia growing more than 600 percent year-over-year and the group more than tripling its revenue in the past year.

Homage will use the latest financing to further accelerate regional expansion and continue to scale its platform with the support of strong local and regional partners, the company said.

In Malaysia, Homage has expanded across most states to now operate in locations including the Klang Valley region, Penang, Johor, and Ipoh. In line with the vision to provide accessible care to more Malaysians throughout the nation, Homage will continue to grow its presence and expand into more cities.

“Our mission is to make everyday care for older adults and the chronic-ill personalized, accessible as well as cost-effective. By combining high touch with high tech, we have been able to prove that we improve the lives, health and wellness outcomes of our care recipients and families at scale,” Homage Founder and Chief Executive Officer Gillian Tee said.

The company has built a regional network of more than 6,000 fully screened, trained, and curated care professionals including certified and trained caregivers, licensed nurses, care navigators, and board-certified therapists and physicians.

“We will utilize this funding to further invest into our technology platform and deepen our integration with the aged and disability care payor and provider infrastructure across the region,” added Tee.

“Homage’s mission is very aligned to the Sheares vision of building integrated healthcare ecosystems to close care gaps and deliver new innovative models of healthcare services that will ultimately help to contain healthcare costs. We are very excited to partner with Homage on its journey,” said Khoo.

Homage is a technology-enabled caregiving and health solution that combines curated professional caregivers, therapists, and clinicians with technology to provide holistic care and wellness to older adults and families wherever they are. With more than 6,000 licensed care professionals, Homage leverages its technology platform to provide core services to an expansive client base of government providers, federal care plans, health organizations, and employers across Singapore, Malaysia, Australia, and Japan.

Sheares is a healthcare company headquartered in Singapore and wholly owned by Temasek, a global investment company with a net portfolio value of S$381 billion ($283 billion) as of March 31, 2021.

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