Care Academy
Image from Care Academy’s Facebook page

CareAcademy, a Cambridge, Massachusetts-based care training platform for home care and home health organisations, has raised $20 million in a round led by Goldman Sachs Asset Management.

The round was backed by MassMutual through the MM Catalyst Fund, Impact America Fund, Rethink Education, Unseen Capital, First Trust Capital Partners and prior investors.

The investment is part of Goldman Sachs’ ‘One Million Black Women’ initiative, a $10 billion commitment to narrow opportunity gaps and impact the lives of black women over the next decade.

The company intends to use the new funding to accelerate product development and data measurement capabilities.

CareAcademy has delivered 1.5 million hours of training to nearly 300,000 learners, according to the company.

“Having the support of Goldman Sachs enables us to further accelerate our growth, expanding our reach into enterprise and home health opportunities, and increasing our product and data measurement capabilities to equip caregivers of all types to reach their full potential,” said Helen Adeosun, founder and chief executive of CareAcademy.

Antoine Munfa, managing director within Goldman Sachs Asset Management, added: “We believe CareAcademy has the breadth of industry experience to empower, retain and address the challenges faced by caregivers at scale and look forward to partnering with the team as it accelerates its next phase of growth.”

Date Published: 10 June 2022

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