Papa, which pairs older adults and families with college students for companionship and assistance with everyday tasks, has raised an additional $18 million for its Series B round led by Comcast Ventures.
Additional investors in this round include Canaan, Initialized Capital, Sound Ventures, Pivotal Ventures, Magnify Ventures, Behance founder Scott Belsky, the founders of Flatiron Health and their group Operator Partners, and other high-profile investors.
This brings the company’s total funding raised to $31 million to date.
Students taking part help with an array of everyday tasks including transportation, light household chores, navigating health benefits, doctors’ appointments, prescription refills and pick up, and grocery deliveries. Since launching in Miami in 2018, Papa has expanded to cater to families in 17 states, with plans to be in all 50 states by January. It has grown 20% month-on-month since inception and says it expects to increase five-times year-on-year in membership growth, which has accelerated due to Covid-19.
Papa stated it will use the funds to continue to grow the company, including expanding the Papa team, launching services in new states across the US, and expanding its platform.
Papa founder and chief executive Andrew Parker, said: “We created Papa with the singular goal of supporting older adults and their families throughout the ageing journey. The Covid-19 pandemic has unfortunately only intensified circumstances leading to loneliness and isolation, and we’re honoured to be able to offer solutions to help families during this difficult time.”
Date published: 23 September 2020