Residential care comparison website Lottie has been valued at £45m after US venture capital firm General Catalyst agreed to invest £6.125m.
Launched by brothers Chris and Will Donnelly in July 2021, Lottie’s free-to-use digital healthcare marketplace allows care and retirement seekers to locate and compare options across the UK.
The new investment will allow Lottie to expand its offering by investing in new digital tools for care providers, and to grow Seniorcare, Lottie’s eldercare employee benefit portal.
Lottie co-founder Will Donnelly said: “Lottie’s operational technology is already being used by hundreds of the UK’s most forward thinking later living providers, which has been fundamental in allowing an improved customer experience, but also delivering better health outcomes for residents, and, in the long-term, will help deliver a sustainable industry which can meet the care needs of our rapidly ageing population.”
Chris Bischoff, leader of healthcare investment for General Catalyst, will join Lottie’s board as part of the investment. He said: “Lottie is this unique hybrid of matchmaker, comparison website and care property specialist. Blending smart technology with a dedicated team of care experts, the platform is proving itself to be an indispensable ally in helping families and retirees make easy informed choices about elderly care.
"Lottie’s mission to ‘elevate elder care’ aligns with General Catalyst’s health assurance thesis to drive more digitally enabled, decentralised, preventative, and equitable healthcare.
“We are energised to partner with Chris, Will, and the whole Lottie team to help build a better future for those in later life.”