Carevalidate Inc. Raises $500,000 Led by Investment from Wellabe Ventures
Wellabe is pleased to announce its venture capital company, Wellabe Ventures, LLC, is the lead investor in CareValidate Inc., an Atlanta-based insurtech startup. CareValidate is the creator of SafeLight, the life-saving light bulb for seniors. With a focus on care quality and providing solutions to help customers secure their financial futures, Wellabe Ventures is excited to partner with CareValidate.
"We’re inspired by the opportunity to invest in CareValidate. This platform aligns perfectly with our strategy to enhance the customer experience through innovative solutions. We believe the collaboration between our companies will transform how we serve the senior market and drive value for our customers,” said Julie Pearce, Director of Innovative Solutions for Wellabe Ventures.
Through the invention of SafeLight, CareValidate has developed a caregiver engagement platform focused on quality of care for seniors. The telematic life-saving light bulb is part of an aging-in-place kit that empowers family and professional caregivers to accomplish more with less.
“CareValidate exists to help Life, Health, P&C, and Long-Term Care insurers deliver a great customer experience to their policyholders, and we are extremely proud to work closely with the talented team at Wellabe Ventures towards realizing our mission,” said John Hayde, CEO of CareValidate.
Wellabe Ventures invested $300,000 in CareValidate, with an additional $200,000 funds coming from Age-Tech angel investors.
About Wellabe, Inc.
Wellabe, Inc., has multiple insurance company subsidiaries under the Wellabe®. These companies offer life and health insurance product solutions to help people secure their financial futures through various distribution channels and are licensed in 49 states plus the District of Columbia. Wellabe is based in Des Moines, Iowa, and employs approximately 450 people in its Des Moines, Iowa; Omaha, Nebraska; and Ogden, Utah offices.
About Wellabe Ventures, LLC
Wellabe Ventures, LLC is a venture capital company backed by Wellabe, Inc. Wellabe Ventures’ investment strategy focuses on early-stage startups in the insurance, finance, and healthcare industries. With initial investments of up to $1 million, Wellabe Ventures’ funds are typically made in seed to Series A round startups.
About CareValidate Inc.
CareValidate is the first company ever to bring care validation to the senior care market. Founded in 2018, CareValidate is committed to improving the safety and security of older adults, living at home or in senior care institutions anywhere in the world, and delivering peace of mind to their children. For more information, visit www.carevalidate.com.