Papa joined the Unicorn Club on November 4, 2021, after raising a $150 million Series D funding round led by SoftBank Vision Fund, valuing the company at $1.4 billion. Headquartered in Miami, Florida, United States, Papa connects older adults and families with caregivers through a digital platform. The company has raised $257 million to date and employs 391 people (as of December 2023).
Keep reading to learn how Papa is transforming elder care and companionship through technology and human connection.
What Is Papa and What Does It Do?
Founded in 2017, Papa is a digital platform that connects senior members with caregivers known as “Papa Pals.” It offers companionship, in-home assistance, and social support services to older adults and families. Members of partnered health plans and employers can access care services through both virtual and in-person visits.
Papa’s platform extends beyond traditional caregiving—it includes running errands, grocery shopping, pet care, childcare support, transportation, and respite care. By combining human touch with digital convenience, Papa improves quality of life and reduces loneliness among seniors.
How Much Funding Has Papa Raised?
1. Series D
- Amount Raised: $150M
- Date: October 13, 2021
- Lead Investor: SoftBank Vision Fund
- Valuation: $1.4B
- Purpose: Scale national operations, expand partnerships with healthcare providers, and enhance caregiver technology infrastructure.
2. Series C
- Amount Raised: $60M
- Date: April 2021
- Lead Investor: Tiger Global Management
- Purpose: Accelerate customer acquisition, expand the team, and strengthen health plan integrations.
3. Earlier Rounds (Seed to Series B)
- Cumulative Funding: $47M
- Key Investors: Initialized Capital, Canaan Partners, and Sound Ventures
- Purpose: Build the digital care platform, onboard caregivers, and pilot employer health benefits programs.
Total Funding Raised: $257M
Latest Funding Date: October 13, 2021
Latest Valuation: $1.4B
Employee Count: 391 (as of December 31, 2023)
Key Investors
1. SoftBank Vision Fund
- Details: A global technology investment fund focusing on companies transforming industries through innovation and AI-driven solutions.
- Focus Areas: Healthcare tech, elder care, and digital platforms for community support.
2. Tiger Global Management
- Details: A leading investment firm with a focus on high-growth technology and service-based startups.
- Focus Areas: Healthtech, HRTech, and digital service platforms.
3. Initialized Capital
- Details: Early-stage venture capital firm backing scalable, mission-driven tech startups.
- Focus Areas: SaaS, consumer services, and social impact ventures.
Where Is Papa’s Headquarters?
Papa is headquartered in Miami, Florida, United States. The headquarters serves as the operational hub for technology development, caregiver coordination, and health plan partnerships, supporting the company’s mission to connect families and improve senior well-being nationwide.
What’s Next for Papa?
Papa aims to expand its reach across the United States by partnering with additional healthcare plans and employers. The company is investing in AI-driven care matching, caregiver training tools, and enhanced user engagement features. Its goal is to make social care a core part of health benefits while addressing isolation and improving mental well-being among older adults.
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