Richmond-based Naborforce announces $9 million investment from Silicon Valley
By COLLEEN CURRAN Richmond Times-Dispatch
Richmond-based Naborforce, a tech company that connects older adults to a network of helpers for on-demand support and social engagement, has attracted $9 million.
On Monday, Naborforce announced the closing of a $9 million Series A financing round led by Translink Capital, a global venture capital firm headquartered in Silicon Valley, as well as investors Claritas Capital, The Artemis Fund and TechStars.
Naborforce said it will use the financing to expand upon the tech platform, the team, and to open 18 markets over the next 18 to 24 months.
Naborforce — which was founded by local entrepreneur Paige Wilson in 2018 — has an online platform where aging adults or their family members can hire people in their own communities — called “Nabors” — to work part time performing non-medical household chores such as laundry and shopping for aging and homebound people.
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For fees ranging from $25 to $33 an hour, the “Nabors” also provide occasional visits and companionship for people who need assistance or someone to check on them in their homes. Naborforce offers a technology platform to support aging in place and provide opportunities for older adults to remain social and active.
“Naborforce is powered by Nabors helping neighbors,” Wilson said in a statement. “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.”
Naborforce offers its service in six markets, including Richmond and Charlottesville in Virginia, as well as in the Raleigh, Durham, Chapel Hill and Charlotte areas of North Carolina, with plans to expand in the upcoming months.
“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.”
Naborforce is headquartered in the Fan District at 2308 W. Main St.; it has 14 full-time employees and is expected to triple its headcount over next 18 to 24 months.