New York-based A Place for Mom has raised $175 million in growth equity funding, the company reported Monday.
The action came in a funding round led by New York-based global venture capital and private equity firm Insight Partners, with additional participation from existing investors General Atlantic, a global growth equity firm, and technology investment firm Silver Lake.
The senior living and care consumer search platform said its funding raise is meant to enable the company to execute an extensive multi-year plan to accelerate growth “by investing to deliver a superior family experience and deepen its relationships with senior living communities.”
“Our business grew by 30% in 2021, and we are still in the early stages of our transformation. We are fortunate to have three world-class partners — Silver Lake, General Atlantic and Insight Partners — who share our enthusiasm and confidence in our vision, plan and ability to execute,” CEO Larry Kutscher said.
A Place for Mom currently is valued at more than $1 billion, Bloomberg reported. In business for 21 years, its network includes more than 14,000 senior living and care providers, more than 2,000 home care providers and 250,000 consumer reviews. More than 2 million families have used the service, which is free to families and paid for by providers.
