Venture Capital News: Honor Technology Nabs $370M
SAN FRANCISCO, CA, Honor Technology today announced it has raised $70 million in Series E funding and $300 million in debt financing.
Honor Technology, the world's largest senior care network and technology platform, which recently acquired global home care provider Home Instead, today announced it has raised $70 million in Series E funding and $300 million in debt financing. The round brings Honor's total equity funding to date to $325 million and values the company at over $1.25 billion.
Baillie Gifford led the equity financing with participation from existing investors including funds and accounts advised by T. Rowe Price Associates, Inc., Home Instead founders Paul and Lori Hogan, Prosus Ventures, Andreessen Horowitz, Thrive Capital, FMZ Ventures, Rock Springs Capital, Lighthouse Capital Markets, and TriplePoint Capital. Perceptive Advisors led the debt financing with a significant commitment from Ares Management funds.
Honor Technology and Home Instead are changing the way we care for aging adults and their families. Founded in 2014, Honor is the first company ever to bring technology solutions, operational support, and a large pool of caregivers to home care agencies across the U.S. Since 1994, Home Instead has been the world's leading provider of home care services for older adults, operating in the United States and 12 other countries. The combined company will support the work of more than 100,000 professional caregivers and meet the expanding needs of millions of older adults and their families around the world.
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