CareNation Secures KRW 5 Billion Investment for Caregiving Expansion

HMC Networks, the Korean operator of the caregiving service platform CareNation, has secured an investment of KRW 5 billion from Samsung Venture Investment and Hana Ventures. The total investment raised by HMC Networks now amounts to 30.5 billion KRW.

Founded in 2013, CareNation has rapidly grown through the development of its platform based on offline market experience, data collection and analysis, and the expansion of caregiving services. Currently, it provides a variety of healthcare services, including caregiving, companionship, household care, hospital/pharmacy locator, medical supplies store, and contactless payment options.

Jang Junho, a director at Hana Ventures, commented, “We believe that caregiving services, along with the silver industry, will experience the highest growth potential due to the aging population. CareNation has proven itself as an industry leader with its high growth rate, performance, and significant market share in the online caregiving market. Our decision to participate in the follow-up investment was based on these growth trends and the management team’s capabilities.”

CareNation is continually enhancing its services for customer convenience, which includes automating the issuance of service certificates, maintaining caregiving diaries, and developing AI-powered customized caremate recommendation features. This customer-centric approach has led to remarkable achievements, including 330,000 cumulative subscribers, 1.1 million downloads, and transactions exceeding 21.5 billion won. Leveraging this investment, CareNation plans to further improve its B2C services and intensify preparations for the soft landing of its B2B services by 2025.

Seo Daegun, CEO of CareNation, shared, “Our ultimate goal is to become a platform that provides a comprehensive range of caregiving services to those in need. We are gearing up to launch an online matching service for visiting nursing in the first half of this year. Starting from the non-reimbursable caregiving market, CareNation is set to drive online innovation by expanding into the government-reimbursable caregiving market.”