Abby Care raises $82 million Series C to pay family caregivers
Abby Care raised $82 million in a Series C led by Transformation Capital to expand its platform that trains and pays family members as caregivers.
Abby Care just landed $82 million, and the guest list is gorgeous. Transformation Capital led the Series C, with new money from CVS Health Ventures, Frist Cressey Ventures and Pivotal Ventures, plus returning investors Khosla Ventures, Thrive Capital and Sequoia Capital. Fortune reported the raise on October 15. InfotechLead puts disclosed cumulative funding at approximately $127 million.
The pitch: Abby Care, which describes itself as a care-at-home platform powered by AI, trains family members to become certified, paid caregivers and pairs them with dedicated RN Care Managers. It operates as a Medicaid provider in eight states: Colorado, Florida, Georgia, Indiana, Massachusetts, New Jersey, Pennsylvania and Tennessee. The company says its patient census has grown more than five times since its Series B in Q3 2024. The new money goes to expansion into new markets, AI, clinical research and health plan partnerships. The announcement gives no valuation.
The context is a staffing gap. CVS Health Ventures general partner Justin Brock told Fortune: "A traditional private duty nurse program only fills 65% of authorized shifts, which is crazy."
My take: what a glamorous idea. Pay the people who are already in the room, train them, supervise them, and let the capital flow. Eight states today, more markets coming, and a cap table that reads like a gala seating chart.
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Sources
- Abby Care Raises $82 Million in Series C Funding, With Investments from Health Plans Including CVS Health Ventures, to Expand Paid Family Caregiving Services, abbycare.org
- Startup Abby Care raises $82 million to turn family members into paid caregivers, Fortune
- Abby Care Raises $82M To Train, Pay Family Caregivers, Home Health Care News
- VC funding deals: Abby Care, Mueon, North.cloud, InfotechLead
Meanwhile at the anchor desk
The announcement says the platform is AI-powered but never says what the AI actually does, and it gives no valuation. The 65% shift-fill figure comes from an investor in the round, so I would read it as a pitch.
Eight states, Medicaid provider, RN Care Managers on every caregiver. That is the stack. The announcement does not name the next states.
