The Brisbane-based aged care and disability home care operator, founded in 2016, with co-founders Simon Lockyer CEO and Nathan Betteridge COO (pictured above), has accepted a substantial investment from the global asset management firm to fund its continued growth.

San Francisco-based TPG, known as an alternative 'investmentor' with a focus on innovation, disruption and technology, is investing alongside co-founders Simon and Nathan, who will retain significant interests in the company and continue in their leadership roles. Global investment firm EQT, the owner of retirement village operator Levande, will retain a minority stake.

Today, Five Good Friends is a top 20 provider of home care services and has developed The Lookout Way, a leading SaaS (Software as a Service) solution for home care operators that has been built specifically to cater to the needs of the Australian market. The Lookout platform enables the automated tracking, monitoring and reporting of care quality and outcomes via automatic check-in and check-out, family access to the care platform, recorded care notes, tracking of client data with automated escalation to care managers, and complex rostering functions.

“For the entire Five Good Friends and Lookout team, TPG’s investment is validation of our ambitions to build a scalable care platform, that delivers a higher-quality care experience underpinned by transparency and improved oversight,” Simon said.

“Today, Five Good Friends delivers 30,000 home care visits a month and have provided a total of more than 3 million hours of care since we started. Lookout is powering the care and service delivery of over 100 home care and NDIS providers.”

Joel Thickins, Co-Head of TPG Asia and Head of Australia & New Zealand, said: “Five Good Friends has built a terrific business with all the elements required for continued success. At a time when broader in-home aged care reforms are taking place to ensure Australia’s elderly live independently at home for longer, their approach to home care and disability support, coupled with their cloud-based software solution, has enabled them to create a truly unique care delivery platform that combines the best of technology and human care.

“Five Good Friends’ mission closely aligns with our thematic focus on backing tech-enabled businesses opening pathways to deliver higher quality and more efficient healthcare outcomes. We are excited to partner alongside Simon, Nathan and the Five Good Friends leadership in continuing to scale their platforms to become the leading home care solutions in market.”

Browse Five Good Friends on the #1 listings website agedcare101.com.au