Mobeus Leads £3.8m Investment Round For Supercarers
Mobeus Equity Partners has led a £3.8 million funding round for SuperCarers, an online platform that’s addressing the acute UK care crisis. SuperCarers connects people seeking at-home care with experienced, independent carers. Mobeus provided £2.1 million of development capital, alongside other investors, including JamJar Investments and Seneca Partners.
The UK’s elderly population is growing; the number of over-65s in the UK is expected to rise from 11.7 million in 2016 to 15.2 million in 2030. This growth in the elderly population is causing increased demand for care services. At the age of 65, one in six people has trouble with daily living such as washing, dressing or eating. By the age of 85, one in two face the same problems. Some local authorities are struggling to keep up with increasingly costly and complex care needs, leaving many elderly people without the critical assistance required to keep living in their homes. SuperCarers provides a personalised matching process between carers and care-seekers that tailors care to the requirements of the individual. The platform enables transparent charging and communication, and efficient care scheduling.
SuperCarers was co-founded in 2014 by brothers Adam Pike (Chief Executive Officer) and Daniel Pike (Chief Commercial Officer), after they struggled to source quality and consistent care for their grandmother, forcing their mother to become a full time carer herself. Having established an excellent reputation, SuperCarers will use the additional funding to drive customer numbers through marketing, developing its technology and recruiting a larger team to support growth. The business has a heavyweight advisory board that includes Alan Rosenbach (former Strategy Director at the Care Quality Commission) and Paul Burstow (former Minister for State for Care Services).
Amit Hindocha led the deal, with support from Josh Henshaw and Josh Levy. He comments “Mobeus believes the home care sector requires a fundamental redefinition to address the care crisis. We therefore researched the market and identified SuperCarers as a potential market leader. There has been little innovation and a technology solution is the only way to meet rising demand. Due to its excellent reputation and strong technology, we back SuperCarers to meet that need.”
Adam Pike, SuperCarers CEO, added, “The UK’s care system is at breaking point. Carers are trusted to look after the elderly, but they are demotivated, poorly paid and as a consequence have limited incentive to deliver the best possible care. In turn, those requiring care often receive an overpriced, poor quality service that doesn’t suit their needs, and they have little to no control over the process.
“SuperCarers solves both issues. We believe that by empowering and connecting people in the same community, care can become more personal, reliable and consistent. It is our mission to make finding, monitoring and paying for care easier and giving families the tools they need to find the right match for their loved ones. We also want to make care a more rewarding profession, one that is not only personally rewarding, but financially too.”
This is Mobeus’s eighth investment in online businesses in 18 months, including: MyTutor, the leading digital platform for online private tutoring in the UK; mpb.com, a specialist online marketplace for second-and photographic equipment; and Proactive Investors, the leading provider of investor media services to mid- and small-cap listed companies in the UK.
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