Carebeans
Cheshire Hereford
Product
Funding use
Merger & Acquisition
Sector
Amount
Fund
Summary
Carebeans was first established by CEO Nick Lawford in 2019 and is a cloud-based software as a service system for residential and nursing care homes and the full spectrum of supported living including domiciliary care, disability, and mental health services.
The funds will be used to grow the business with the further development of the functionality of the software and the opening of a new office in Monmouth. New jobs are expected to be created in both Merseyside, where Carebeans has an office at Sci-Tech Daresbury, and the South Wales regions.
The co-investment includes the trade and assets acquisition of the software business of Standex Systems in Northampton and onboarding of five staff who move to Carebeans from Standex UK.
In August 2024, River Capital has announced the successful exit of its investment in Carebeans, having been acquired acquired by RLDatix, the global leader in connected healthcare operations software and services.
River Capital returned 3x its investment with an IRR of 60%.
“The investment provided a step change in our ability to bring on new customers and accelerate R&D in areas we know will have a big impact across large areas of social care provision in the near future. My goal was always to use great technology to help people live their lives where they want to be with dignity whilst helping care givers provide consistently high quality support unencumbered by onerous, often disconnected, systems and processes. The funding accelerated our growth in the social care sectors with the opening of a second office and the recruitment of a highly specialist and skilled team.”
Nick Lawford CEO of Carebeans
