This Startup is Tackling Southeast Asia Growing Eldercare Need
The world’s population is aging, but the needs of elderly people are still being underserved. A United Nations report found that older people make up more than one-fifth of the population in 17 countries, and by 2100, a majority of the world’s population, or 61%, will be aged 60 and above.
In Southeast Asia, Homage is addressing the issue with a platform that takes a curated approach to pairing caregivers and families, using a combination of in-person screening and its matching engine to make the process more efficient.
According to Digital News Asia, through their platform, Homage individually interviews each care professional and screens them for aptitude, as well as softer skills including motivation and communication skills.
The technology enables the company to streamline and scale the process, capturing the skills, experience, and motivation profile of each care professional. They also use a proprietary matching engine that pairs care recipients, and organisations with the best-suited care professionals for their needs.
Currently operating in Singapore and Malaysia, the startup announced earlier this year that it will use its Series B funding to expand into five new countries in the region within the next two years.
Backed by investors, including HealthXCapital, Golden Gate Ventures and EV Ventures, Homage was co-founded in 2016 by chief executive officer Gillian Tee, who grew up in Singapore and was inspired by her family’s own experiences looking for caregivers.
Tee says to TechCrunch she wanted to build a platform that would make the process of matching caregivers and clients easier, and be scalable into different markets.
Homage grew their B2B business by more than 400% in 2019, and has seen a six-fold rise in their Malaysian operations since the beginning of 2019. They have also established the largest fully-screened pool of close to 2,000 qualified care professionals in Southeast Asia.
“In our next phase of growth, we look forward to partnering EV Growth to create a greater impact in our mission to provide deeper and more personalised support for long-term care needs,” said Tee.
Homage plans to further invest in building out its medical services arm with a network of doctors and medication delivery capabilities. It will deepen the investments in its core services in skilled nursing, assistance with daily living activities as well as rehabilitation care including physiotherapy, speech therapy, and occupational therapy.