Naborforce Closes $9M Series A Financing Round Led by Translink Capital
Updated: Nov 10, 2022
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."