Care matching tech service receives £1.5m grant to fund ambitious growth programme
A tech platform dubbed the ‘Rightmove of care’ has received a £1.5m grant as it bids to create 70 new jobs.
Edinburgh-based Care Sourcer – which matches people to the social packages they need – will bring its headcount to over 100 as it embarks on an ambitious growth programme.
The healthtech company is developing industry-leading technology to tackle the UK’s care crisis via the first comparison and matching site for older people care.
Care Sourcer, co-founded by Andrew McGinley and Andrew Parfery in 2016, is working with a number of NHS Trusts across the UK and secured an £8.5 million investment round led by Legal & General and ADV in 2018, the largest-ever Series A funding round by a digital tech company in Scotland.
Andrew Parfery, CEO and co-founder of Care Sourcer, said: “As we look to further scale the business in the months and years ahead, the support from Scottish Enterprise will enable us to grow the team to keep apace with our strategic growth plans. We are building a fantastic team at Care Sourcer and we’re excited at the prospect of even more talented people joining the fold as we look to fix the broken care system in this country.”
Investment Minister Ivan McKee said: “A vibrant and successful Scottish economy depends on companies like Care Sourcer. The £1.5 million RSA award from Scottish Enterprise will create over 70 new high value jobs, generating real economic impact for Scotland. I look forward to hearing more good news from the Care Sourcer team as they pursue their growth ambitions.”
Michael Cannon, Head of Grants at Scottish Enterprise, said: “Care Sourcer is a fantastic example of an ambitious, growing Scottish technology company that’s making a real difference to the quality of people’s lives. With our support, Care Sourcer can significantly scale up and enable local individuals, families and communities to benefit from these new quality jobs being created.”
Earlier this year, Care Sourcer hired former Skyscanner senior director (Director, Growth) Ilana Munckton as Director of Growth. Munckton oversaw a period of high growth at the global online travel site that was acquired by China’s Ctrip for £1.4 billion in 2016. Care Sourcer’s board also includes former Skyscanner COO, Mark Logan, while former FanDuel Senior Director of Engineering, Dr Graham Jones, became Care Sourcer’s COO in 2017.
Parfery added: “We feel really fortunate to have such talented people, including individuals with proven scale-up experience, on our doorstep. Scotland has a dynamic tech ecosystem and Scottish Enterprise’s support helps us keep that expertise here in Scotland. This grant from Scottish Enterprise shows that Scotland isn’t just a great place to start a business, but also a great place to scale a business.”
“Care Sourcer’s online comparison and matching site is directly connecting people with businesses who can help – the ‘Rightmove’ of care! Our technology is proven to make a significant impact on the challenges in social care, and we look forward to more attention and investment in this critical topic.”
-Care Sourcer is headquartered at CodeBase in Edinburgh and currently has a headcount of 39 based in Scotland and across the UK.
-The overall UK care market is estimated to be in excess of £20 billion and is facing unprecedented challenges with daily discharge cost to the NHS of over £2 million per day.