St. Louis Startup TCARE Closes $3M Financing Deal
Recently, St. Louis-based startup TCARE announced that they will expand their St. Louis footprint after closing a $3 million financing deal. The financing was led by local venture capital firm, SixThirty. There were also several other well-known investors pitching in on the deal including Aflac Ventures, BlueCross BlueShield MN, Blu Ventures, Village Capital, Connetic Ventures, and gener8tor fund.
TCARE provides a consistent, objective, and reliable screening assessment process that identifies at-risk caregivers. The offer an evidence-based family caregiver support program that provides analytics for social workers, care managers and care coordinators to help family members who are taking care of relatives. With their product, TCARE helps deliver significant cost savings by delaying nursing home placement and reducing LTC service usage.
"This financing further validates our business strategy and momentum during what has been a very tumultuous year for the health care industry, with millions of family caregivers of all ages suffering from high levels of stress and depression. There has never been a greater need to improve caregiver lives by harnessing innovation, technology, and data analytics to improve access, guide care, and truly understand the effectiveness of family caregiver support," said Ali Ahmadi, CEO of TCARE. "From its inception, TCARE has been committed to making a positive impact on the lives of the caregivers and care recipients we serve. We are grateful for the trust placed in us by our investors as we enter our next phase of growth.”
With the new funding, TCARE hopes to expand their product offering into new business segments. Planning to double their team in the next year, TCARE is currently hiring.
Previously, TCARE has been an Arch Grants winner in 2019 and have won the US Veterans People’s Choice Award through a Startup of the Year pitch competition featuring companies founded by U.S. veterans.