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The financing, which was led by Claritas Capital, will be used to continue to grow Naborforce's leadership team, acquire key talent as it expands its geographic reach, develop additional technology features on its dynamic scheduling platform, and fuel new opportunities for support in target markets around the U.S. "Our new partner will enable Naborforce to further our ability to meet the demand for social engagement, care, and support that has escalated in the past 15 months as older loved ones experience higher rates of isolation and loneliness since the pandemic began," said Paige Wilson, CEO and founder of Naborforce.
Over the last year, Naborforce has grown its revenue over 1,000 percent and client base by over 800 percent. In addition, Wilson earned a coveted spot in the TechStars program, won the AARP's third annual Consumer Technology Association Foundation Pitch Competition, and was invited to present to the Senate Committee on Aging.
"Claritas is excited to join with Naborforce and its founder, Paige Wilson, in the mission of combatting isolation and other social determinants that impact the health of the senior population. Naborforce facilitates seniors aging in place safely and helps alleviate significant social isolation and care challenges by addressing the supply-demand imbalance for senior care. Further, Naborforce brings purposeful, flexible work to those who are passionate about giving back to their communities," said Tania Grant, principal at Claritas Capital. "We believe Claritas Capital's experience, resources, and connections in healthcare, senior care, and technology will help Naborforce scale quickly into markets and communities that are very much in need of Nabors who care."
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Naborforce currently serves Richmond, Charlottesville, Raleigh, Wake County, Chapel Hill and Durham. In each of these markets, the Naborforce platform has proven effective in making meaningful connections possible for older adults and their children seeking companionship and on-demand care. Funding from this financing will enable Naborforce to expand its operations to 6-10 additional markets, making independent, engaged, and joyous aging and living possible for even more older adults.
"While there are numerous options for nurses and aides, Naborforce is who to call for help with all those little things that keep older adults independent and happy," said Wilson, who founded the company after personally experiencing the lack of resources on the front-end of the care continuum when her own mother started needing a little support. "For those with aging parents, we serve as the first and only platform that dispatches back-up sons and daughters on-demand. We are not a healthcare company, but the pre-care services we provide before more intensive care is needed directly impacts long-term health outcomes."
Wilson added, "Today's funding announcement means that whether you're busy balancing your career, raising kids, live out of town or just need a little support, Naborforce will be available to offer peace of mind and comfort while improving the health of aging adults."
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Based in Richmond, VA, Naborforce is using technology to harness the strength of community. Through their proprietary tech platform, they connect older adults and their family caregivers to a network of fully vetted community members for on-demand light assistance and social connection. For more information, visit www.naborforce.com.
About Claritas Capital
Nashville-based Claritas Capital partners with leading health care and technology management teams as they seek to grow their businesses and provides capital investments to help entrepreneurs accelerate their visions. Since inception in 2002, Claritas Capital has invested in over 68 companies who collectively have raised over $6 billion in financing. For more information, visit www.claritascapital.com.
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