Boston — February 11, 2021 — Espresso Capital announced today that it has provided Boston-based healthcare technology company VillagePlan with a $4.5 million credit facility. VillagePlan, the leading provider of technology-enabled expert caregiver support services, will use the funds to further invest in key AI and natural language processing technology and engagement tools. It will also expand its rapid growth in the employee benefits, insurance benefits, and financial services markets.
“This investment fuels our growth at a time when demand for expert caregiver support has never been greater,” said Evan Falchuk, CEO of VillagePlan. “We carefully considered many partners for this investment and chose Espresso Capital because of their attractive cost of capital and creative approach as well as the high quality of their team.”
VillagePlan’s engagement tools, expert care managers, and leading technology and analytics platform provide families with extraordinary help at a time of need, while also improving the quality and cost of care for their loved ones.
“It has been clear from the beginning of the financing process that Evan and the team understand how to position the company for future growth — their past successes are further proof of that.” says Espresso’s Steven Michau. “VillagePlan’s offering addresses a large segment of the population that will continue to grow. Layering technology onto a service-heavy model will allow them to scale while also maintaining the personal relationships that are so important to succeeding in this space.”
VillagePlan entered 2021 poised for significant expansion and is currently building on its existing partnerships with employers such as Microsoft, insurers such as MetLife, and health care organizations such as Providence Health Systems.
VillagePlan is the leading provider of technology-enabled expert services to help families care for aging loved ones. Led by former senior executives of Boston-based Best Doctors, Inc., VillagePlan’s scalable platform improves people’s lives while reducing the cost of care for consumers, insurers, employers and others. At a time when millions of people around the world face the challenge of caring for an aging loved one, VillagePlan is here to help with clinical and non-clinical support, data analytics and risk prevention tools that make a real difference for families and their loved ones.
About Espresso Capital
Espresso empowers companies with innovative venture debt solutions. Since 2009, we’ve helped more than 280 technology companies and their investors accelerate growth, extend runway, and increase strategic flexibility with non-dilutive capital. Learn more at www.espressocapital.com.