Richmond startup Naborforce has closed a $9 million Series A round with aims to expand its services across the country.
The company’s tech-based platform links aging adults to a network of "nabors" for social engagement and on-demand support with errands, transportation, help around the house and other tasks.
The new round of financing was led by Palo Alto, California’s Translink Capital and included participation from existing investors Claritas Capital of Nashville, Tennessee; Houston’s The Artemis Fund; and Boulder, Colorado’s Techstars. Prior to the Series A round, Naborforce had raised $3.3 million since its founding in 2018, according to Crunchbase.
Naborforce said in an announcement it will use the new funding to invest in its technology, grow its staff and press into new markets.
Founder and CEO Paige Wilson told Richmond Inno in May she was looking to expand Naborforce into six additional markets by the end of the year. Its networks are currently running in cities in Virginia, Maryland and North Carolina, and it entered into the Atlanta market earlier this year. Wilson said in the spring the company had racked up a 400% year-over-year increase in revenue.
Wilson said in a statement Translink has a track record of growing direct-to-consumer companies into national brands. Translink previously invested in wellness app Noom, AI company Appier, college and career guidance platform Empowerly, all-natural beauty product company Farm Skin and fitness and wellness services company Within, which is being acquired by Facebook parent Meta Platforms Inc.
Eric Hsia, managing director of Translink, said in a statement Naborforce has a “proven model for community engagement and family support.”
“Naborforce is the future of aging at home” Hsia said. “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 was recently named one of Richmond Inno's Fire Awards honorees for 2022.
