Home Care Education Platform CareAcademy Receives $20M Investment

The funding round was led by Goldman Sachs as part of its One Million Black Women initiative.

CareAcademy, a care-enablement platform that provides state-approved training for home care and home health agencies, has received a $20 million investment to accelerate product development and data measurement capabilities.

The round was led by Goldman Sachs Asset Management, as part of Goldman Sachs’ One Million Black Women initiative, a $10 billion commitment to narrow opportunity gaps and impact the lives of Black women over the next decade, according to a CareAcademy press release.

The new funding also will be used further “the company’s mission to unlock the unmet potential in home and community-based services,” according to CareAcademy.

The Boston-based CareAcademy, which has been named to the Inc. 2021 Best in Business list in the education category, was founded to empower and upskill caregivers across the long-term care continuum to deliver advanced, high-quality care that measurably improves patient outcomes.

CareAcademy has set a goal of certifying 1 million direct care workers by 2023 to help mitigate the projected care shortage. 

With more than 1.5 million hours of web-based training delivered to nearly 300,000 learners, CareAcademy provides caregivers with access to state-approved education and training to address chronic disease.

“This is a momentous time for CareAcademy. This strategic investment positions CareAcademy to meet its ambitious goal of empowering 1 million caregivers by 2023. Caregivers across the entire long-term care continuum will access CareAcademy to meet not only their state and federal required training but also the needs of the patients and loved ones they support,” said Helen Adeosun, CareAcademy’s founder and CEO. 

“Having the support of Goldman Sachs enables us to further accelerate our growth, expanding our reach into enterprise and home health opportunities, and increasing our product and data measurement capabilities to equip caregivers of all types to reach their full potential,” Adeosun continued. “The next stage of our growth is furthering the win-win-win: providing caregivers in all settings the supports they need, enabling employers to recruit and retain a quality workforce, and enabling communities to access quality care.”