UKTV has today announced it has invested in the online care marketplace, Elder, using its multi-million-pound investment fund, UKTV Ventures.
Elder was created to connect older people and their families with independent carers across the UK to enable personalised one-to-one care at home. Elder’s proprietary technology uses hundreds of different data points including conditions, skills, personality, interests and geography to match the right families and carers together and help older people keep the routines, hobbies, and lives they love.
Brendan Kilcawley, Head of Commercial UKTV Ventures:
“Peter and his team have done an incredible job to build a platform that supports carers and those seeking care in an intuitive, accessible and supportive way. Their mission, to keep the elderly healthy and happy through supporting in home care, is one that resonates with UKTV. We look forward to helping the business grow through the power of TV advertising.”
Since its founding in 2016, Elder has powered more than 50,000 matches and 13 million hours of care in 500 towns and cities across the UK, enabling thousands of older people to continue to live their own lives, in their own homes while supporting thousands of carers with better work opportunities.
UKTV Ventures’ £1 million “airtime-for-equity” investment sees Elder launch its first TV advertising campaign in April on the broadcaster’s seven linear channels – Dave, W, Gold, Alibi, Drama, Yesterday, Eden. Elder will benefit from access to an audience of over 25 million viewers a month and in return, UKTV will gain an equity stake in the business.
Peter Dowds, Founder and CEO of Elder:
“It is great to be partnering with Brendan and the team at UKTV to help build awareness of Elder across the UK. Now more than ever, families and loved ones across the UK are looking for care and support that is at-home, personal and flexible. That’s what we make a reality at Elder and we’re excited for our new TV campaign to help drive awareness and help families and loved ones take control of later life.”
UKTV Ventures is committed to helping companies new to TV advertising build their brand and scale up by benefiting from the wide reach, trust and recognition only achieved through TV advertising. Similar to venture capital, UKTV Ventures is a funding model which invests airtime, instead of cash, in burgeoning high-growth companies looking to accelerate their growth.
This latest deal with Elder follows their recent investments with online raffle company Raffolux, plastic free shampoo bar company KinKind, and social media platform, WeAre8, and a follow-on investment with dog GPS tracker company Pit Pat.
