AlayaCare Secures $33 Million (CDN) in Growth Funding

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AlayaCare, which enables home healthcare providers to deliver best-in-class services and improve care outcomes, today announced that Inovia Capital, Caisse de dépôt et placement du Québec (CDPQ) and Investissement Québec have invested $51-million, buying $33-million in new equity from AlayaCare plus $18-million of stock from early investors. In the changing world of home healthcare, technology is the new constant. AlayaCare helps home and community care agencies manage all aspects of their business and operations using a single cloud-based SaaS platform. Through this unique platform, AlayaCare: Improves the patient experience by facilitating client-directed care planning and by offering tools such as real-time remote monitoring; Improves the caregiver experience through mobile tools that mean better preparedness for home visits and efficiency of task-management; and, Lowers costs for organizations by streamlining billing and communications, and limiting the need for expensive IT infrastructure. false false false In many countries, in-person care can be supplemented with remote patient monitoring and virtual visits to support both clients and care workers efficiently. At the same time, the market is experiencing a shift toward integrated care, value-based reimbursement and the rising use of cloud-based software; a digital environment in which AlayaCare’s artificial intelligence and application program interfaces (APIs) can drive optimal health outcomes. false false false This latest investment of growth capital will allow AlayaCare to focus on research and development to optimize its technology for the needs of any client. As legacy software solutions become outdated, the company is now poised to support even more customers through its market-leading cloud-based platform. false false false AlayaCare, a Canadian entrepreneurial success story, now has over 200 employees and has earned $50+ million in growth capital since its launch in 2014. Its mission is to transform the industry from a traditional fee-for-service model to one that is technology enabled, outcome-focused for patients and delivers better experiences for caregivers. false false false About AlayaCare AlayaCare's unique platform includes back office, client and family portals, remote patient monitoring, telehealth, and mobile care worker functionality in one integrated, highly robust and secure, cloud-based system. AlayaCare is providing the platform for home and community care organizations to propel towards innovation and home care of the future. AlayaCare was founded in 2014. http://www.alayacare.com About Inovia Capital Inovia Capital is a full-stack venture firm that partners with audacious founders to build enduring global technology companies. We seek to transform venture capital by perfecting the craft of investing in people first. We roll up our sleeves to serve founders with dedicated, long-term mentorship, a global talent network, and strategic support for global scale. Together, we rewrite the rules of complex legacy industries, push technology frontiers and pursue bold visions of a better future. Inovia Capital manages over US $1B across five funds including early and growth stages, and holds offices in Montreal, Toronto, Calgary, San Francisco and London. For more information, visit www.inovia.vc. ABOUT CAISSE DE DÉPÔT ET PLACEMENT DU QUÉBEC Caisse de dépôt et placement du Québec (CDPQ) is a long-term institutional investor that manages funds primarily for public and parapublic pension and insurance plans. As at December 31, 2018, it held CA309.5 billion in net assets. As one of Canada's leading institutional fund managers, CDPQ invests globally in major financial markets, private equity, infrastructure, real estate and private debt. For more information, visit cdpq.com, follow us on Twitter @LaCDPQ or consult our Facebook or LinkedIn pages. About Investissement Québec Investissement Québec’s mission is to foster the growth of investment in Québec, thereby contributing to economic development and job creation in every region. The Corporation offers businesses a full range of financial solutions, including loans, loan guarantees and equity investments, to support them at all stages of their development. It is also responsible for administering tax measures and prospecting for foreign investment.