Grayce, a California-based health tech startup providing a comprehensive social care management platform for social workers, has secured $10.4M in a Series A funding round to advance family care solutions.
The funding round was led by Maveron, with participation from leading healthcare investors, including BBG Ventures, Correlation Ventures, Alumni Ventures, GingerBread Capital, Visible Ventures, What If Ventures, and Gaingels.
According to the company’s announcement on Wednesday, June 12, it will use the additional capital to scale its innovative social care management platform, improve employer solutions, and advance its services to the employer market.
Grayce Comprehensive Social Care Platform
Grayce’s social care platform has been designed to meet the growing need in the healthcare sector and empower family caregivers with digital solutions to help them navigate the intricate caregiving landscape with minimal stress.
The platform allows each member to access the services of a dedicated social worker, who helps them manage and streamline their comprehensive care needs, from planning and prioritizing to coordinating and identifying resources needed.
Grayce’s comprehensive care platform offers services in over 250 languages— from user-specific educational content to access to market resources, productivity tools, and peer community connections.
With 73% of workers currently tasked with caregiving responsibilities due to staffing crises in healthcare, eldercare, and child care, many employees find themselves in a new role as caregivers while juggling different responsibilities, according to research conducted by Harvard Business School.
These challenges can impact employees differently, leading to absenteeism, reduced productivity, leave, medical cost burden, and employee retention.
Leveraging a blend of intuitive technologies and a touch of human support, Grayce’s model seeks to address members’ social aspects, resulting in better healthcare outcomes and supporting the healthcare industry’s evolving care needs and payment models.
With the new financing round, Grayce is looking to forge a partnership with payers to expand comprehensive support to more people.