Indianapolis, INDIANA—GEOH, a provider of end-to-end software solutions for homecare, announced the successful closing of a $3 million Series Seed Plus funding round. This round was led by Boomerang Ventures, contributing $2 million, with participation from VisionTech Partners, First Leaf Capital, Digital Venture Partners and individual investors.
GEOH's software solutions streamline the tracking and documenting of client visits, enhancing operations for caregivers and administrators. The new funding will accelerate the company's growth into new market segments, support geographic expansion and advance its technology offerings.
"We are thrilled to have the support of our investors as we enter this next phase of growth," said Tom Bumgardner, CEO of GEOH.
“We are excited to lead this round in support of the success that GEOH has experienced since our initial investment, in late 2022,” said Oscar Moralez, founder and managing partner of Boomerang Ventures. “This round of funding is a testament to the success that GEOH has experienced since we made our initial investment in late 2022. We applaud the hard work and dedication by the entire team at GEOH. They are clearly meeting a significant need in the market.”
Additionally, the funds will support strategic M&A opportunities and the growth of GEOH's workforce across key divisions, including sales and marketing, development,and services. The company plans to leverage artificial intelligence (AI) to improve both skilled and non-skilled care services, focusing on administrative efficiencies, advanced reporting capabilities and case management.
"We've seen tremendous growth, with our revenue increasing nearly fourfold compared to both the previous quarter and the same period last year," said Bumgardner. "Our team's hard work and dedication have allowed us to exceed our annual recurring revenue goals for 2024 much earlier than anticipated. Since securing its initial funding round in October 2022, GEOH has significantly expanded its operations. The company has reported a 280% increase in its workforce, reflecting its commitment to scaling operations to meet growing demand."
