Naspers Ventures has led a $50m Series C round for home care company\u00a0<a href="https:\/\/www.joinhonor.com\/care-network" target="_blank" rel="noopener">Honor<\/a>, a comprehensive home care company for older adults.\n\nThe firm will use the funds to expand its Honor Care Network, a national network of home care agencies and other providers. Honor's existing investors participated in the round,\u00a0bringing the company\u2019s total funding amount to $115 million.\n\n\u201cBy 2050, the global population of people over 60 years old is projected to more than double, creating a pronounced demographic shift around the world. Simultaneously, disability rates are increasing, meaning humans are living longer but not necessarily healthier lives,\u201d said Mike Katz, Head of U.S. Investments at Naspers Ventures. \u201cNaspers looks for opportunities that address big societal needs in high-growth markets and partnered with Honor because they are uniquely addressing these macro-trends while alleviating the strain on health systems and senior care providers.\u201d\n\nHonor recently added seven home care agency partners to its Care Network and is actively seeking partners in new and existing regions within California, Texas, and New Mexico.\n\n\u201cWe started Honor to give our parents the care they need to remain as independent as possible,\u201d said Seth Sternberg, CEO of Honor. \u201cAs we grew, we quickly saw that the best way to care for older adults at scale is to partner with local agencies and empower them, which is why we launched the Honor Care Network. We\u2019ve seen remarkable progress so far and are excited for the next level, creating the largest, most-informed team of agency partners and caregivers ever assembled.\u201d\n\nThe Honor Care Network gives home care agencies access to more caregivers, cutting-edge technology, and a complete support operations solution. Honor handles all caregiver recruiting, payroll, billing, insurance, legal, and compliance issues for its partners. The technology platform helps agencies schedule care more easily and have greater visibility into patient care.\n\n\u201cOur Care Network partnership has changed how I spend my time and what I\u2019m able to accomplish every day,\u201d said Meredith Caplan, owner of CSS Home Care. \u201cBoth Honor\u2019s team and my team play a part in the care. We work collaboratively, focusing on what we each do best. For me, that\u2019s understanding the home environment and my clients\u2019 care needs to ensure the best outcome for each one. And while I\u2019ve been focusing on care management, my business has grown nearly 40 percent.\u201d\n\nHonor Care Network Partners also benefit from our coordination with organizations throughout the care continuum, including insurers, hospital systems, and continuing care providers that offer additional opportunities to serve new clients.\n\nThe latest round comes as the larger healthcare industry is increasingly recognizing non-medical home care as a vital component to value-based care. In April, the Centers for Medicare and Medicaid Services announced that Medicare Advantage plans will be able to cover non-medical home care services as a supplemental benefit starting in 2019.\n\nHonor has raised a total of $115 million from private investors, including Naspers Ventures, Andreessen Horowitz, and Thrive Capital.