NDIS self-managed healthcare startup PlanCare pockets $2.5 million from Perth’s new VC

Western Australian self-manage care platform PlanCare has topped up its Seed round to $2.5 million from existing backer Purpose Ventures.

The new Perth VC originally backed PlanCare in July 2023, and the additional funding is the first follow-on investment from Purpose.

PlanCare founder Dave Newman previously ran Morning Startup for more than a decade and launch his healthtech startup to help people access and manage home care packages . The company charges a flat fee of 13% for self-managed care and is planned to launch full managed care packages at a 23% flat fee.

The company also deals with NDIS packages.

Newman said the latest Seed round allows PlanCare to  scale further in tackling the global problem of healthcare-at-home for an  aging population.

“With more consumers wanting more choice and control and the ability to self-manage their own supports, this investment will  enable us to further build out our healthcare-at-home platform and service  to ensure more people can live longer in the place they want to — their  homes,” he said. 

Purpose Ventures built a $45 million fund last year and has now deployed $4.5 million across four startups: Paperly, IDEAcademy, Plancare and Gene-S.  

Cofounders Derek and Kylie Gerrard are focused on backing Western Australian startups with 70% of the fund earmarked for WA founded or operated companies. 

Derek, who previously established WA’s only other structured venture fund, the $23m RAC-backed BetterLabs Corporate Venture fund, said they’d reviewed more than 250 investment applications over the past year. 

“Having been founders ourselves  we bring a unique perspective to early stage investing,” he said. 

“We want to  primarily support founders who are chasing their purpose or “life cause”  and are using innovative technology and approaches to tackle large  markets locally and overseas.” 

The husband and wife duo have also committed to donating half of any performance fees into a newly established foundation to back to WA-based charities.