RICHMOND, Va., Aug. 15, 2022 /PRNewswire/ -- Naborforce, a high-growth elder tech company that connects older adults to a network of trusted "Nabors" for on-demand support and social engagement, today announced the closing of a $9 million Series A financing round led by Translink Capital.
Translink Capital, a global venture capital firm headquartered in Silicon Valley, is joined by existing investors Claritas Capital, The Artemis Fund, and TechStars. Naborforce will use the financing to further invest in its technology-driven solution and to attract a world-class team to lead its expansion across the county.
"We are excited to have Translink Capital as our partner during this next phase of Naborforce's growth," said Paige Wilson, CEO and founder of Naborforce. "Translink has an impressive track record in successfully growing direct-to-consumer companies into household national brands, and they share our vision for leveraging technology as a means to make a massive impact in communities and the lives of older adults."
Naborforce's disruptive solution is the first and only technology platform that is harnessing the strength of community to dispatch a carefully vetted network of local Nabors, on-demand and ready, to support aging in place and provide opportunities for older adults to remain social and active.
"Naborforce is powered by Nabors helping neighbors," said Wilson. "Throughout history, as people have sought support as they aged, they have turned to family and their community. But today's families are more dispersed and sandwiched between raising children and caring for aging loved ones, and communities are not as close-knit as they once were. Gone are the days when it was simple to ask for a helping hand from a neighbor – until now. Naborforce makes it easy and safe to make meaningful connections within your community. Our network is driven by community members who represent the spirit of a good neighbor and the heart of a loved one."
With 11,000 baby boomers turning 65 every day, investment in elder tech solutions is booming, especially those that support keeping older adults in their homes. Fueling the need for Naborforce's essential and much-needed offering is an increasing call for help from families across the United States as they struggle to balance the demands of supporting older loved ones while attempting to maintain careers, family obligations, and their own health.
Demand has further accelerated since 2020 as the COVID-19 pandemic increased the desire to age at home and illuminated the toll of isolation. Naborforce's backup sons and daughters support aging in place while providing an all-important social connection between clients and Nabors.
"Translink Capital firmly believes in the power of connection to address some of the world's most pressing challenges," said Eric Hsia, Managing Director of Translink Capital. "We're energized by the proven model for community engagement and family support that Naborforce provides through both its technology platform and its network of purpose-driven Nabors. Naborforce is the future of aging at home. The company unleashes the power of communities around the country when they have the support of a platform that is able to connect those in need of a friendly hand with those ready to respond."
Based in Richmond, VA, Naborforce is using technology to harness the strength of community. Through its proprietary tech platform, Naborforce connects older adults and their families to a network of fully vetted community members for on-demand light assistance and social connection. Naborforce is currently available in Richmond, VA; Charlottesville, VA; Williamsburg, VA; Virginia Beach, VA; Bethesda, MD; and Atlanta, GA. Older adults and/or family members can sign up quickly and schedule visits online or by phone. There are no contracts, extensive consultations, or length of visit requirements beyond one hour. Passionate and caring community members wanting to impact the lives of older adults in their area and residents wishing to easily secure a "Nabor" for on-demand support can learn more by visiting www.naborforce.com.
Headquartered in Palo Alto, California, Translink Capital is an early-stage venture capital firm investing in technology-based startups in the consumer, enterprise and blockchain sectors. Founded in 2006, the firm has over $1 billion of assets under management and has been engineered to bring founders and their innovative companies together with a unique set of resources and networks to support their journey to build foundational companies in their sector. Translink Capital's consumer portfolio companies include or have included: Aktiia, Empowerly, Epic!. Market Kurly, Misfit (acquired by Fossil), Molekule, Noom, SoundHound, and Within (acquired by Meta).