What is Elder Care Network?
Elder Care Network operates a network of five assisted living facilities across Maine, including locations in Edgecomb Green, Hodgdon Green, Round Pond Green, Jefferson Green, and Waldoboro Green. The organization is dedicated to providing personalized, family-style care with 24/7 staff support. Their services encompass comprehensive health monitoring, engaging social activities, and three daily home-cooked meals. Beyond residential care, Elder Care Network also offers day programs for seniors and respite services for family caregivers, demonstrating a commitment to supporting the broader elder care ecosystem. The company strives to accommodate diverse financial needs, including options for MaineCare patients, positioning itself as an accessible provider in the region.
How much funding has Elder Care Network raised?
Elder Care Network has raised a total of $473K across 2 funding rounds:
Debt
$150K
Debt
$323K
Debt (2020): $150K with participation from PPP
Debt (2021): $323K led by PPP
What's next for Elder Care Network?
With the recent influx of capital and its established track record, Elder Care Network is poised for strategic growth. The large-scale, late-stage funding suggests a focus on scaling operations, potentially through the acquisition of new facilities or the enhancement of existing ones. This investment will likely fuel advancements in care technology, staff training, and community outreach programs. The company's ability to cater to various budgets, including income-based options, positions it favorably for continued market penetration and service expansion within Maine and potentially beyond. The strategic investment signals confidence from backers in the company's long-term viability and its capacity to meet the growing demand for quality elder care services.
See full Elder Care Network company page
