Better Caring flags possible future IPO and national expansion

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The Australian is reporting that Peter Scutt’s disruption model is keen to expand its services ahead of a potential share market float, following a $500K advertising injection from the News Limited Scaleup Mediafund in February.

Scaleup is backed by News Corp Australia, Fox Sports Australia, NOVA Entertainment and the Ten Network, and provides media ad space for equity.

Better Caring now has $6M in the bank, after raising $3M in a funding round led by its backer Ellerston Capital, the James Packer-linked private equity firm, in October last year.

Mr Scutt said that an IPO would be “probably quite likely because aged care and disability resonate, online marketplaces resonate, it is really strong thematics.”

Better Caring currently has 5,000 consumers signed up and recently added speech and occupation therapists to its list of offerings.

The company also says it’s looking at using the same software ride-sharing brand Uber supplies to its drivers to make it easier for its case workers to run their own microbusinesses.

“This is about active ageing, staying connected to your passions. It is not just about having someone clean the house. What is more important to the consumer in this model is the individual care workers. The providers are far less important,’’ Mr Scutt said.