Carefull is a beautiful combination of three things that I love into one company, which is why I am so excited to be involved.
The first is that it solves an important societal problem in the market of elder care, which is one sub-theme that we have been pursuing for some time. Thus far, we have made investments in senior healthcare (Devoted Health), commerce for senior caregivers (Carewell), and senior fitness (Mighty Health). Carefull is looking to address the myriad of personal finance needs encountered by seniors and their family caregivers. Seniors are often the target of financial fraud, and there are shockingly few software driven tools to help protect and manage the financial wellbeing of our elders. This is a huge problem right under our noses, and one that realistically we will all face at some point as our parents or we ourselves age.
The second exciting thing is that Carefull exhibits the characteristics of a “peace of mind” business model that I think is highly attractive and generally under-invested among VC’s. These are tough businesses because they are built on trust and credibility which is difficult to establish. But if a peace of mind business can deliver on its brand promise and gain escape velocity, they can be very attractive and durable.
Finally, this is a team that we believe is up for the challenge. Through Carefull, we have the pleasure of backing Max Goldman for the second time, along with his cofounder Todd Rovak. Integral to the team is also Gabe Paley, who leads growth and is also a multi-time NextView portfolio alum. I worked with Max very closely as he was building his prior company Directr which was loved by millions of users and was successfully acquired YouTube. Max is a terrific leader and developer of talent and someone you want to have on your side when the chips are down. The ambition of Carefull is great and I can’t imagine another team that I’d rather be working with to chase this opportunity down.
We are lucky to be joined in this round with some real fintech heavyweights like Charles Birnbaum at Bessemer as well as my old colleague Adam Nash (former CEO of Wealthfront and board member at Acorns). Things are just getting started, but I couldn’t be more excited for the road ahead.