Papa Valuation, Funding & Investors

Papa is valued at $1.4B as of November 2021.

See full Papa profile

Last Papa valuation

$1.4B

Series D · Nov 2021

Last Papa funding round

$150M

Series D · Nov 2021

Cumulative funding Papa raised

$241M

across 6 funding rounds

Key investors in Papa

  • Initialized Capital
  • Canaan Partners
  • Sound Ventures
  • Y Combinator
  • Tiger Global
  • FJ Labs

Papa Overview

About Papa

Papa is a Miami-headquartered platform connecting college and nursing students with seniors for companionship, transportation, household chores, and technology training. Launched in 2018, the service operates in over 30 U.S. states, enabling older adults to maintain independence at home. Papa partners with health plans like Humana and Aetna to deliver on-demand assistance nationwide.


Founded

2017

HQ

United StatesMiami, FL

Website

papa.com

Status

Privately held

Customer focus

B2C

Revenue model

Commission

Valuation

$1.4B (Nov 2021)

Papa Valuation

Papa is currently valued at $1.4B, based on its Series D in November 2021.

The $150M round was led by SoftBank Group, with participation from Canaan Partners, TCG, Seven Seven Six, Initialized Capital, Private Ventures Group and 2 other investors.

Papa valuation by funding round

Papa valuation by funding round
DateStageValuation
Nov 2021Series D$1.4B

Papa Funding History

Papa has raised a total of $241M across 6 funding rounds.

Papa's first fundraising round was a $800K seed round in April 2018. The most recent completed round was a $150M Series D in November 2021.

Papa funding rounds

Papa funding rounds
DateStageInvestorsRaisedValuationDeal Summary
Nov 2021Series DSoftBank Group (lead); Canaan Partners; TCG; Seven Seven Six; Initialized Capital; Private Ventures Group; Anchor Capital GP; Tiger Global$150M$1.4BPapa is a digital platform headquartered in Miami that connects older adults and families with vetted companions and assistance providers, including caregivers for social support, errands, and medical transport, primarily through partnerships with health plans and employers. The company raised a Series D round of $150 million in November 2021, led by SoftBank Vision Fund with participation from Canaan Partners, Initialized Capital, and others including Tiger Global. This round valued Papa at $1.4 billion post-money, bringing total funding to around $241-257 million across prior rounds like Series C ($60 million in April 2021 led by Tiger Global). Funds were allocated to scale national operations, expand healthcare provider partnerships, enhance caregiver technology infrastructure, and accelerate customer acquisition. Papa achieved unicorn status with this investment, positioning it to address eldercare needs amid rising demand for social care integration into health benefits.
Apr 2021Series CTiger Global (lead); FJ Labs; Initialized Capital$60M-Papa, a Miami-based elder tech company founded in 2017, provides on-demand companionship, assistance, and clinical care services to seniors and families through partnerships with Medicare Advantage plans, Medicaid managed care, and employers. Available nationwide in all 50 U.S. states, Papa connects users with local 'Papa Pals' for non-medical support like errands and social interaction, and has expanded to include Papa Health offerings such as care navigation, virtual primary care, and chronic care management. The company originated from founder Andrew Parker's personal experience helping his grandfather, initially via a Facebook ad seeking companions. On April 13, 2021, Papa announced a $60 million Series C funding round led by Tiger Global, with participation from Initialized Capital, FJ Labs, and other existing investors including Comcast Ventures, Canaan, Sound Ventures, and Pivotal Ventures. This brought Papa's total funding to $91 million. The capital was intended to fuel platform scaling, service enhancements, and geographic expansion to meet growing demand from health plans and employers. At the time of the round, Papa reported 600% year-over-year growth as of early 2021 and had partnered with about 80 insurance providers nationwide, making the service available to approximately 1 million eligible members, with 15% monthly usage. The company projected 5-6 million members by January 2022.
Sep 2020Series BComcast Ventures (lead); Sound Ventures; Canaan Partners; FJ Labs; Initialized Capital; Pivotal Ventures; Magnify Ventures; Zach Weinberg; Scott Belsky; Operator Partners; Nat Turner$18M-Papa is a Miami-based startup that connects older adults and families with vetted companions, called Papa Pals, for in-home assistance, companionship, technology help, meal preparation, and light housework. Services are offered through health plans like Medicare Advantage and Medicaid, as well as employer benefits, addressing social isolation exacerbated by COVID-19. The company launched in 2018 in Miami and had expanded to 17 states by September 2020, with plans to reach all 50 states by January 2021. In September 2020, Papa raised $18 million in its Series B funding round led by Comcast Ventures, with participation from Canaan Partners, Initialized Capital, Sound Ventures, Pivotal Ventures with Magnify Ventures, Operator Partners (founders of Flatiron Health), Scott Belsky, and others, bringing total funding to $31 million. The round aimed to expand market reach, improve technology infrastructure, develop new products, and accelerate national growth amid heightened demand due to the pandemic. Papa reported 20% month-over-month growth since inception and anticipated 5x year-over-year membership growth. Subsequent growth included partnerships like with Milliman’s HealthIO and availability through 65 health plans by late 2021. Investors highlighted Papa's role in enabling aging at home, reducing care costs for health plans, and creating jobs for companions. The company had prior rounds including a Series A in 2019 led by Canaan Partners.
Oct 2019Series ACanaan Partners (lead); Sound Ventures; Y Combinator; Initialized Capital; Pivotal Ventures$10M-Papa, a Miami-based company providing 'Grandkids on Demand,' connects seniors with companions for tasks like meal prep, housework, transportation, and companionship to combat loneliness and social isolation. The platform partners with health insurers such as Humana, Aetna, Priority Health, and Alignment Healthcare to offer services as a benefit. Founded in 2017, Papa raised a $10 million Series A round on October 9, 2019, led by Canaan Partners, with participation from Pivotal Ventures, Initialized Capital, Y Combinator, and Sound Ventures. Canaan principal Byron Ling joined the board post-round. Proceeds funded expansion to a broader population via additional insurance and employee benefit partnerships, plus service rollout to 25 states in 2020.
Oct 2018SeedInitialized Capital (lead); Sound Ventures$2M-Papa is a senior care platform that matches older adults with Papa Pals for companionship, meal prep, light housework, and transportation. Founded in 2017, it initially linked college students to seniors and operates as a mobile app in the on-demand economy. Papa raised $2.4 million in seed funding in 2018, led by Initialized Capital with participation from Sound Ventures. The company, a Y Combinator graduate, planned to expand its service throughout Florida and to five additional states, starting with Pennsylvania. Papa aimed to partner with insurance companies to allow seniors to pay for services through Medicare plans. This seed round preceded later financings including a $10 million Series A in 2019 and $18 million Series B in 2020.
Apr 2018SeedY Combinator (lead)$800K--

Who has invested in Papa?

18 investors have backed Papa across its funding rounds, including Initialized Capital, Canaan Partners, Sound Ventures, Y Combinator, Tiger Global and FJ Labs.

Lead investors include SoftBank Group, Tiger Global, Comcast Ventures, Canaan Partners, Initialized Capital and 1 other investor.


Papa Investors

Investors in Papa by funding rounds participated
InvestorHQRoundsRoleFirst check
Initialized CapitalUnited StatesSan Francisco, CA5LeadOct 2018
Sound VenturesUnited StatesLos Angeles, CA3ParticipantOct 2018
Canaan PartnersUnited StatesUnited States3LeadOct 2019
Y CombinatorUnited StatesSan Francisco, CA2LeadApr 2018
FJ LabsUnited StatesNew York City, NY2ParticipantSep 2020
Tiger GlobalUnited StatesNew York City, NY2LeadApr 2021
Pivotal VenturesUnited StatesSeattle, WA2ParticipantOct 2019
SoftBank GroupJapanTokyo1LeadNov 2021
TCGUnited StatesLos Angeles, CA1ParticipantNov 2021
Seven Seven SixUnited StatesWest Palm Beach, FL1ParticipantNov 2021
Comcast VenturesUnited StatesSan Francisco, CA1LeadSep 2020
Private Ventures GroupUnited StatesNew York City, NY1ParticipantNov 2021
Anchor Capital GPUnited StatesDallas, TX1ParticipantNov 2021

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Papa Competitors

Papa competitors include listed companies like Mony Group and CarTrade Tech, and private ones like Vagaro, Bucketplace, PAPA GROUP and Cabify.

Public and private companies comparable to Papa
CompanyHQStatusRevenueEBITDAValuationRevenue Multiple
VagaroUnited StatesUnited StatesPrivate--$1B-
BucketplaceSouth KoreaSeoulPrivate$181M-$1.4B7.7x
PAPA GROUPHong KongHong KongPrivate-$201M$1.4B-
Mony GroupUnited KingdomUnited KingdomPublicly listed$599M$184M$1.3B2.3x
CarTrade TechIndiaIndiaPublicly listed$81M$33M$1.5B15.6x
CabifySpainMadridPrivate$900M$111M$1.5B1.7x

Papa Public Comps

Papa is still privately-owned, but its public comps include Izumi Co, Mony Group, CarTrade Tech, Moltiply Group, Alma Media, eFinance, CVS Group, BuySell Technologies, The RealReal and GO.

Last FYEV/RevenueEV/EBITDA
RevenueEBITDALast FYLTM2027ELast FYLTM2027E
Izumi Co$3.7B$300M0.6x0.6x6.9x6.8x
Mony Group$599M$184M2.3x2.3x7.5x7.1x
CarTrade Tech$81M$33M17.5x15.6x43.2x43.8x
Moltiply Group$787M$148M2.4x2.3x13.0x8.6x
Alma Media$377M$110M3.8x3.7x13.1x11.6x
eFinance$130M$67M11.8x-22.8x-
CVS Group$904M$152M1.7x1.6x10.0x8.0x
BuySell Technologies$647M$70M1.8x1.4x16.2x11.8x

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Common questions about Papa

When was Papa founded?Papa was founded in 2017.
Where is Papa headquartered?Papa is headquartered in Miami, FL, United States.
Is Papa publicly listed?No, Papa is a private, VC-backed company.
What is Papa's valuation?Papa was last valued at $1.4B in its Series D in November 2021.
How much funding has Papa raised?Papa has raised $241M across 6 funding rounds.
What was Papa's last funding round?Papa's last funding round was a $150M Series D in November 2021, led by SoftBank Group.
Who are Papa's investors?Papa's investors include Initialized Capital, Sound Ventures, Canaan Partners, Y Combinator, FJ Labs, Tiger Global, Pivotal Ventures, SoftBank Group, TCG, Seven Seven Six and 8 others.
Which companies are comparable to Papa?Companies comparable to Papa include Vagaro, Bucketplace, PAPA GROUP, Mony Group, CarTrade Tech and Cabify.

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