Gotcare – 7 July

07 Jul 2020
 

Gotcare

Gotcare provides community-based home care, such as bathing, dressing, medicines support, and companionship, to Canadians who have been on a waitlist for far too long. They serve a wide range of clients – including seniors, working professionals who have suffered accidents, and children with disabilities. In collaboration with occupational therapists and family caregivers, Gotcare builds a personalized home care team for each client. 

Supported by their innovative process and technology, the Gotcare platform creates the conditions needed for client independence and safety at home. Key features include algorithmic matching with an ideal care provider, SMS-based appointment setting, and a digital care wallet to track the client care quantum.

 

Traction

Gotcare launched in June 2018. Since then, they have grown a network of over 13,000 care providers and achieved revenue of over $1.5mm ARR. Their vision is to become the leader of home health in the insurance care segment. That will require the company to build out their brand, grow their team, and launch in more geographies across Canada.

 

Team

Gotcare’s leadership team consists of three co-founders. In addition to contributing to the overall direction of the company, each founder has their own area of expertise which they focus on.

Carol MacDonald, Co-Founder – Sales & Client Success

Chenny Xia, Co-Founder – Growth & Technology

Rod MacDonald, Co-Founder – Finance & Operations

 
 

Funding

Gotcare’s leadership team built the business on $270k of Angel capital. They have decided not to pursue venture capital as the standard “VC way” does not align with their ambitions and values. Instead, their current growth is funded through debt. Working with generous individuals and organizations such as SheEO, Gotcare acquired a 0% interest loan that’s backed by the company’s receivables. In terms of expansion, Gotcare’s priorities are growing their operations team and expanding across Canada. 

 

Revenue Model

Gotcare’s client referrals come directly from occupational therapists and nurses. The care funding for their clients comes from insurance companies, nonprofit organizations, and government-funded programs. Currently, 80% of their referrals are from insurance companies. They make a percentage of each hour of care that’s billed through the platform.

 

Details

For more information visit:

Website

 
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