Led · Series B · Feb 2024

Carewell is an online retailer focused on giving family caregivers tools, educational resources, and affordable home-health products. Its offerings include incontinence supplies, nutritional supplements, mobility products, mom & baby items, and more, supported by 300+ educational articles, video content, FAQs, and trained customer-care experts. The company emphasizes a 24/7 customer experience and positions itself as a leading ecommerce destination for caregiving products. Carewell intends to use the Series B proceeds to accelerate growth, bolster its e-commerce technology, expand its product suite, and improve overall customer experience. The company has announced several senior hires from Chewy and plans to relocate its headquarters to Miami to support this expansion. Founded in 2017, Carewell recently completed a $24.7M funding round to advance these initiatives. Carewell operates a curated e-commerce site selling vetted hygiene, home, personal care, meal and other caregiving products and providing guides and advice for informal family caregivers. The company is not a marketplace — it sources and vets products directly in partnership with manufacturers and its caregiver community to ensure quality and a consistent customer experience. Carewell was founded in 2015 by Bianca Padilla and Jonathan Magolnick and is based in Charlotte, North Carolina. The business is 100% cash-pay, notes that most products are IRS-approved qualified medical expenses usable with HSAs, and estimates an $88 billion out-of-pocket market for caregiving products versus $30 billion covered by insurance. Carewell disclosed limited financials but said revenues doubled in the first month of the COVID-19 pandemic and that roughly 40,000 people had purchased products on the site since February 2020. Investors and company leadership describe the opportunity as one for national expansion and deeper engagement with the growing population of unpaid family caregivers.