Kaiser Permanente Ventures has invested $5 million in New York-based in-home care provider Hometeam, Fortune is reporting.
The company will use the funds for medical and technology development to support its growth in New York, New Jersey and Philadelphia, as well as to expand to other markets. On the other hand, with this “strategic investment,” Kaiser Permanente gets to increase its presence in the in-home care market, and as part of the deal, Kaiser Permanente Ventures director Jordan Kramer will join Hometeam’s board as an observer.
“Kaiser doesn’t have a strong presence in the in-home care space in the way that we do long-term,” founder and CEO Josh Bruno said to Fortune. “There are no firm plans yet, but there have been talks about how we can integrate in the Kaiser healthcare system.”
Founded in 2013, Hometeam provides families with expert caregiver matching, custom iPads, and a care team to promote healthy and active days.
Previously, the company raised $27.5 million in Series B funding round in which Oak HC/FT has joined existing investors Lux Capital, IA Ventures and Recruit Strategic Partners.