Lottie raises £6m from General Catalyst
Lottie, a comparison website for residential care and independent living, has raised £6.125 million from US venture capital firm General Catalyst.
Lottie stated it will use the funding to expand its platform nationally, invest in new digital tools for care providers, and develop Seniorcare, its elder care employee benefit portal.
This latest capital injection is an extension of a £2.5 million seed round which initially closed in January, led by early stage venture capital firm Kindred.
Lottie has raised raised £9.025 million to date, employs 40 people, and claims to be now worth £45 million.
Lottie’s co-founder Will Donnelly said: “Covid-19 has supercharged the move of the later living industry from offline to online, from the initial search process and how care seekers engage with later living communities, through to the adoption of digital care plans and new operational technologies.
“As well as assisting families and retirees in making important life decisions, Lottie is now helping our partner communities, both care and retirement, transition to the post Covid-19 digital world.
“Lottie’s operational technology is already being used by hundreds of the UK’s most forward thinking later-living providers, which has been fundamental in allowing an improved customer experience, but also delivering better health outcomes for residents, and, in the long-term, will help deliver a sustainable industry which can meet the care needs of our rapidly ageing population.”
Co-founder Chris Donnelly added: “After closing with Kindred in January, we experienced unprecedented demand from funds. The first few months of 2022 have been hugely successful for us, so we decided to bring General Catalyst on by extending the seed round to further support our growth in the industry.”
Lottie has previously received backing from Monzo founder Tom Blomfield and Lendable co-founder Victoria van Lennep.
Chris Bischoff, leader of healthcare investment for General Catalyst, will join Lottie’s board as part of the investment.
Bischoff said: “Today, elderly care is characterised by a broken care seeker experience, constrained supply of high-quality, affordable homes and an increasingly challenging operating environment.
“Lottie is this unique hybrid of matchmaker, comparison website and care property specialist. Blending smart technology with a dedicated team of care experts, the platform is proving itself to be an indispensable ally in helping families and retirees make easy informed choices about elderly care.
“Lottie’s mission to ‘elevate elder care’ aligns with General Catalyst’s health assurance thesis to drive more digitally enabled, decentralised, preventative and equitable healthcare. We are energised to partner with Chris, Will, and the whole Lottie team to help build a better future for those in later life.”
Date Published: July 25, 2022