ESM backs Time For You Care’s expansion plan
Steven Morris: ‘clear strategy’
ESM Investments has led a £550,000 capital raising for Edinburgh-based home healthcare provider Time For You Care, its second funding deal for the business.
The package will be used to invest further in technology, increase carer numbers and extend Time For You Care’s reach beyond the capital to other local authorities and private healthcare operations.
Time For You Care was established in 2018 and employs 70 full-time carers and office staff.
It uses technology to eliminate time and cost inefficiencies associated with more traditional healthcare providers and to improve experiences for those seeking home care.
Stirling-based ESM is a blend of technology entrepreneurs, experienced investors, corporate finance, experienced transaction and business people and has sourced and invested early-stage technology companies. This is the second time ESM has backed Time For You Care after having led a previous funding round in 2019.
Mr Morris said Time For You Care has performed well since ESM’s initial investment.
“Time For You Care has a clear strategy, a tremendous team and a core will to address the nationwide care crisis by utilising technology to deliver better and more cost-effective outcomes for those in need of homecare at all levels,” he said.
“This latest funding not only goes towards addressing a great social need it will also allow Time For You Care to continue to raise the bar in home healthcare services.”
Melissa Singh, chief executive of Time For You Care, said: “The healthcare sector is too often characterised by poor pay conditions and lack of training for carers.
“When we formed the business, we sought to address this by making sure our carers are rewarded well and are passionate about the high-quality care services they provide.
“Our significant investment in technology has enabled us to take out costly inefficient back-office systems and allow our carers to focus more on delivering higher standards of services.
“This latest fund raising will enable us to significantly expand carer numbers, invest further in technology and expand our reach nationally, both with local councils and the private sector.
“It’s an exciting time for our business and our carers but more importantly we want to improve the experiences and cost-effectiveness for those seeking much needed home care services.”