AlayaCare secures $2.4M financing with Fonds Innovexport

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By Ted Liu

Alaya Care Inc. (AlayaCare) has raised $2.4 million in a new round of financing with Fonds Innovexport.

The investment from Fonds Innovexpert marks AlayaCare’s 3rd funding round since its inception in 2014. In January 2015, AlayaCare raised $2.4 million led by Klass Capital. In October 2016, the AlayaCare raised undisclosed amount from Desjardins – Innovatech and hockey legend Bob Gainey.

Toronto and Montreal based AlayaCare is a provider of revolutionary cloud-based home healthcare software.

Fonds Innovexport is an investment fund created by a group of entrepreneurs together with the Government of Quebec through Investissement Quebec, La Caisse de dépôt, FSTQ, Fondaction CSN and supported by the City of Quebec.

The investment will allow AlayaCare to sustain its three year annual sales growth percentage of 125+% and provides the flexibility to invest more in its product and people.

“To receive this level of trust and support from Fonds Innovexpert is a testament to how far we’ve come in a short period of time,” said Adrian Schauer, CEO of AlayaCare. “Home care agencies in Canada, the United States and as far away as Australia are realizing how the software we built can not only strengthen their core business, but improve the delivery of care itself, ultimately generating better patient outcomes.”

AlayaCare’s delivers an all-in-one cloud-based software solution that includes remote patient monitoring, e-health, clinical documentation, a mobile app for caregivers to facilitate on-site support, and back office functionality.

“Our decision to invest in AlayaCare was based on the excellence of the management team, the strong underlying trends supporting the targeted market and the outstanding quality of the solution AlayaCare brings to their clients. We are confident that they will continue to grow into a market leader in their field,” said Richard Bordeleau, President of Fonds Innovexport.

photo credit: AlayaCare