NDIS healthcare startup PlanCare, has invested $2.5 million

PlanCare, a self-management platform in Western Australia, has secured $2.5 million in seed funding from Purpose Ventures, its first follow-on investment since July 2023.

PlanCare, a self-management platform in Western Australia, has increased the funding for its seed round to $2.5 million from Purpose Ventures, an existing supporter. The new Perth VC first supported PlanCare in July 2023; this new money is Purpose's first follow-on investment. In addition to founding PlanCare, Dave Newman oversaw Morning Startup for over ten years before launching his healthtech company to assist consumers in selecting and overseeing home care services. For self-managed care, the company charges a flat price of 13%; complete managed care packages will be introduced at a flat fee of 23%.

The business offers NDIS packages as well. According to Newman, the most recent seed round enables PlanCare to expand its reach in addressing the global issue of healthcare at home for an aging population. After creating a $45 million fund the previous year, Purpose Ventures has invested $4.5 million in four startups: Paperly, IDEAcademy, Plancare, and Gene-S. With 70% of the fund designated for companies developed or run in Western Australia, cofounders Derek and Kylie Gerrard are committed to supporting entrepreneurs in their home state.

More than 250 investment applications were evaluated in the past year, according to Derek, who previously started the only other structured venture fund in Western Australia, BetterLabs Corporate Venture Fund, which was backed by RAC for $23 million.