More resources to consolidate Cuideo's business model and accelerate its growth through territorial expansion and diversification of products and services. The Barcelona-based home care startup founded by Adrià Buzón and brothers Roberto and Alejandro Valdés has just closed a Series B round of five million euros, with Atresmedia group as its main patron, a partner that can decisively contribute to increasing its notoriety by being the owner of television channels such as Antena 3 and La Sexta and radio stations such as Onda Cero and Europa FM.
In April, Cuideo closed the first tranche of this new capital increase through the micro-investment platform Capital Cell, specialized in supporting the growth of emerging companies in the biotechnology and health sector. A total of two million euros were raised, compared to the 1.6 million initially planned, with the participation of 454 investors.
Now, the round has been expanded by an additional three million euros contributed by Atresmedia and by two investors who were already shareholders of the company: Mundi Ventures and Inderhabs Investments, the family office of Pere Botet, one of the former owners of Caprabo. Usually, when media groups invest in startups like Cuideo, they do so under the media for equity formula, meaning their investment is not monetary but in exchange for the assignment of advertising spaces. Cuideo has declined to confirm that this is the model. In 2017, the company also supported its growth with a media group, as it allowed Godó to enter, which has enabled it to be a regular advertiser on stations like RAC1. Since its inception, the company has raised a total of 8.2 million in funding.
According to Cuideo, it has so far served more than 40,000 families and the goal is to close 2022 with a gross turnover of 58 million euros. The company's challenge is to consolidate itself as "the leader in home care for people" under a business model based on digitalization and the reinvention of a very traditional sector, that of elderly care.
"Our goal is to lead the transformation of the sector globally and continue investing in technology to be able to offer a fast and quality service to all our clients," says Roberto Valdés, co-founder and CEO of Cuideo. The new financial resources will allow increasing territorial capillarity, investing in brand, growing the team, developing new business lines, and accelerating the growth strategy in France, where the company established itself at the end of 2020.
Until now, Cuideo has focused on providing services to the end customer through a technological platform that connects professional caregivers with families who demand these services. It has started to launch new products such as a telecare service through a wearable (Cuideo Assist) and now wants to develop the B2B line, that is, become a provider, through "strategic agreements" with companies in the insurance sector interested in incorporating this type of home care services into their policies.