UK Home Healthcare Company Cera Raises $320M to Expand Services

Cera, home healthcare, fundraise, UK

Digital-first home healthcare company Cera has raised $320 million in equity and debt funding, which will allow the London-based company to expand its tech-enabled health services from 15,000 to 100,000 at-home patients per day.

Existing investor Kairos HQ led Cera’s fundraising effort, which also saw participation from Vanderbilt University Endowment, Jane Street Capital, Guinness Asset Management, Oltre Impact, Evolve Healthcare Partners alongside Schroders Capital and several others, Tech Funding News reported Thursday (Aug. 4).

The fresh capital allows Cera to free up beds in NHS hospitals across the region and boost the U.K.’s care capacity by the equivalent of more than 50 hospitals, according to the report.

It will also be used to expand the company’s investment in nursing, telehealth and prescription delivery services both in the U.K. and globally, offering multiple healthcare services per household.

“Receiving such significant financial backing during this period of global economic volatility is testament to the strength of Cera’s business model, our innovation, and our commitment to revolutionizing healthcare,” Ben Maruthappu, CEO and co-founder of Cera, said in the report. “We’re now in pole position to be able to use our unique technology to expand what we do for patients across the world who are in need of care, while relieving pressures on public services.”

In December, PYMNTS reported that the digital healthcare boom fueled by the COVID-19 pandemic is getting an extra boost from the fact that America’s roughly 71 million baby boomers and 72 million millennials are all living longer.

See also: Aging-in-Place Boom Gives Rise to ‘Age Tech’ and More Connected Home Options for Seniors

With the youngest baby boomers now older than 60 and older millennials in their early 40s, both groups are looking for care advances that improve the experience. Millennials in particular face a combination of factors that make them keenly aware of connected and digital healthcare options.

Millennials are also starting to make eldercare decisions for aging parents, a confluence of factors that’s driving digital solutions.