A Place for Mom raises $175 million in growth funds
NEW YORK, January 24, 2022–(BUSINESS WIRE)–A Place for Mom (“APFM”), the largest marketplace for aged care services, today announced that it has raised $175 million in growth capital to fuel the next stage business growth and transformation. The funding round was led by Insight Partners, a New York-based global venture capital and private equity firm, with additional participation from existing investors General Atlantic and Silver Lake.
A Place for Mom is the leading online platform and trusted advice service, powered by a national team of local experts, helping families with personalized advice on elder care. With the largest national network, A Place for Mom empowers families to make the best senior living decisions in the areas of assisted living, memory care, independent living and home care.
APFM is executing an extensive multi-year plan to accelerate growth by investing to provide a superior family experience and deepen its relationships with senior communities.
“As a category leader, APFM is fueling industry growth,” said Larry Kutscher, President and CEO of APFM. “Our business grew 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 our confidence in our vision, plan and ability to execute.”
The global retirement housing industry is expected to grow by more than 50% cumulatively over the next 5 years, driven by significant demographic trends, including the projected doubling of the percentage of Americans aged 85 or older over the next of the next 20 years.
“APFM’s cutting-edge technology helps caregivers make informed decisions about their loved ones during difficult times by connecting them to senior living facilities nationwide,” said Eoin Duane, chief executive of ‘Insight Partners. “We are excited to partner with APFM as they leverage their differentiated platform and deep customer expertise to grow.” Eoin will join the board of APFM.
Anton Levy, APFM Board Member and Co-Chairman, Managing Director and Global Head of Technology Investments at General Atlantic, said, “With its impressive, insight-driven platform, APFM meets the needs of families making important decisions about seniors The APFM team has made significant progress in positioning the company for continued growth. Our increased investment reflects our confidence in APFM’s market position and prospects, and its ability to create value for all of its stakeholders.
Adam Karol, APFM Board Member and General Manager of Silver Lake, said, “This investment validates the remarkable progress that Larry and the APFM team have made in using technology and data to transform how caregivers and families find the right senior care for We are excited that Insight is joining us and General Atlantic in working with Larry and his leadership team to accelerate the strong trajectory of company growth as they continue to innovate and evolve to create the market leading aged care services.
About A Place for Mom
A Place for Mom is the leading online platform connecting families seeking senior care with a team of experienced local counselors providing personalized, insight-driven solutions. As the nation’s leading seniors counseling service, A Place for Mom’s mission is to empower caregivers to make the best decisions in seniors’ lives. With senior living experts nationwide, A Place for Mom helps hundreds of thousands of families each year navigate the complexities of finding the right senior living solution for their loved one in care. home care, independent living, memory care, assisted living, and more. A Place for Mom is paid for by the seniors’ communities and care providers in its network, so its service is provided free to families. For more information, visit aplaceformom.com.
About Insight Partners
Insight Partners is a leading global venture capital and private equity firm that invests in high-growth technology and software companies that are driving transformative change in their industries. Founded in 1995, Insight Partners has invested in more than 400 companies worldwide and has raised through a series of funds more than $30 billion in capital commitments. Insight’s mission is to find, fund, and work successfully with visionary executives, providing them with hands-on, hands-on software expertise to drive long-term success. Across its people and portfolio, Insight fosters a culture around the belief that ScaleUp businesses and growth create opportunity for everyone. For more information about Insight and all of its investments, visit insightpartners.com or follow us on Twitter @insightpartners.
About Silver Lake
Silver Lake is a leading global technology investment firm, with over $90 billion in combined assets under management and committed capital and a team of professionals based in North America, Europe and Asia. Silver Lake’s portfolio companies collectively generate more than $227 billion in revenue annually and employ more than 567,000 people worldwide. For more information about Silver Lake and its portfolio, please visit Silver Lake’s website at silverlake.com.
About General Atlantic
General Atlantic is a leading global growth capital firm with more than four decades of experience providing capital and strategic support to more than 445 growth companies throughout its history. Founded in 1980 to partner with visionary entrepreneurs and deliver lasting impact, the company combines a collaborative global approach, industry expertise, a long-term investment horizon and a deep understanding of growth drivers to partner with great entrepreneurs and management teams to develop innovative businesses. around the world. General Atlantic currently has over $86 billion in assets under management, including all products, as of September 30, 2021, and over 215 investment professionals based in New York, Amsterdam, Beijing, Hong Kong, Jakarta, London, Mexico, Mumbai and Munich. , Palo Alto, São Paulo, Shanghai, Singapore and Stamford. For more information about General Atlantic, please visit the website: generalatlantic.com.
See the source version on businesswire.com: https://www.businesswire.com/news/home/20220123005094/en/
For a place for mom
Sard Verbinnen & Co
Paul Scarpetta/Devin Broda