CareNation operator HMC Networks secures additional investment from Saehan Ventures

HMC Networks, which operates the caregiver-matching service Carenation, announced on the 15th that it had secured an additional investment from Saehan Venture Capital.

The investment reflects recognition of Carenation’s expertise and technology built up in the caregiving market, as the senior healthcare market draws greater attention amid an aging population.

Carenation previously raised about KRW 12 billion in a pre-Series B round—the largest investment of its kind in Korea’s caregiving industry—from HB Investment, LSK Investment, Hana Ventures, Samsung Venture Investment, Shinhan Financial Investment, and Saehan Venture Capital, which has backed numerous Korean unicorns.

With this latest investment, Carenation’s cumulative funding has exceeded KRW 20 billion, following its earlier KRW 12 billion raise.

“Although our pre-Series B round had closed, Carenation’s growth potential and the strong commitment of our existing investors brought us together with Saehan Venture Capital,” said Seo Dae-geon, vice president of Carenation. “We expect this investment to help us become a distinctive player in the caregiving sector.”