Aidaly Raises $ 8.5 Million in Funding to Provide Compensation and Financial Services to Family Caregivers

Led by Reddit co-founder Alexis Ohanianthe funds will be used to expand Aidaly’s offering to new markets

BOSTON, June 22, 2022 / PRNewswire / – Aidalya service that provides compensation and financial services to family caregivers, today announced it has raised $ 8.5 million in funding. The financing was led by Alexis Ohanian‘s Seven Seven Sixwith participation from Lightspeed Venture Partners, Operator Partners, Precursor Ventures, Primetime Partners, Scribble, Shrug, Polymath, TVC, and founders and executives from Twitter, Facebook, SoulCycle, Flatiron Health, Mainstreet, OnDeck, Commsor and more. Aidaly is officially coming out of stealth mode and will use its funds to expand its services for family caregivers across new markets. the United StatesGeneral Chat Chat Lounge

Last year, 53 million Americans provided unpaid care for an aging family member, with about eight in 10 reporting routine out-of-pocket expenses averaging $ 7,242 annually. Coupled with a lack of paid family and medical leave the United States, many family members are forced to choose between caregiving and a full-time job with income and benefits. This results in many caregivers leaving the workforce and sacrificing financial stability.

While Medicare and Medicaid dollars are available to pay for some services Provided by families, a patchwork of state rules and federal regulations have made it difficult for families to access the benefits they qualify for. Aidaly aims to solve these problems by providing benefits and providing financial services to qualified family caregivers. Its platform streamlines access to state and private benefits, as well as helps family caregivers access obscure benefits such as financial planning, mental health support and caregiver training. Early users have already seen a 160% increase in their ability to recover from financial shocks.

“My dad was diagnosed with cancer while I was in college. When it spread to his brain, we were forced to abruptly close his private practice. The experience was particularly difficult on my mom, who went from being an empty nester to a full. -time caregiver, “he said Maggie NorrisFounder and CEO of Aidaly. “This experience opened my eyes to the lack of resources available to those who are thrilled to have a family caregiving role. Aidaly’s mission is to empower unpaid family caregivers with the compensation, coaching and financial services they need to care for their loved ones.”

Aidaly supports those who provide on average 15 to 25 hours of care to a family member. Its platform enables caregivers to manage related paperwork and access financial services through one, easy-to-navigate portal. For caregivers who are not getting paid or part of the 80% of people who are unaware that these programs exist, Aidaly helps if they are eligible for benefits in less than 15 minutes.

“I saw the importance of caregivers firsthand in my mom’s battle with brain cancer,” she said Alexis Ohanian, founder of Seven Seven Six. “I am invested in Aidaly because I can clearly see the impact this technology is going to have for family caregivers and their loved ones. Being a family caregiver is a challenging role for many reasons; Aidaly ensures it is not more difficult than it needs to be and That family caregivers are able to focus on what matters most – their loved one. “

Aidaly is exclusively designed for families currently providing or wanting to provide care in a home setting. Members also gain access to a supportive community of fellow caregivers and coaches that are available to assist with caregiving, nutrition and wellness and personal finance.

Aidaly is available in Miami-Dade and is expanding to additional markets within the year. It is also in the process of partnering with insurance plans to offer Aidaly’s service to its members. For more information, visit www.aidaly.comGeneral Chat Chat Lounge

About Aidaly

Aidaly is a service that provides compensation and financial services to family caregivers to help smooth financial shocks, avoid debt and supplemental lost income and employment benefits. Its platform is designed to help family members get the benefits they deserve, apply for eligibility and receive compensation faster and more efficiently. The platform is currently available in Miami-Dade with plans to expand into additional markets in 2022. To learn more about Aidaly, visit https://www.aidaly.comGeneral Chat Chat Lounge

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BAM for Aidaly
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SOURCE Aidaly

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