The Caisse de dépôt et placement du Québec is participating in a $225 million Series D funding round of AlayaCare, a Montreal-based at-home health-care software provider.
The company’s artificial intelligence-based software is used by more than 500 health-care organizations around the world. In the past two years, it’s seen its U.S.-based business grow seven-times over.
The investment has been earmarked for innovation, data collection and improving the care worker experience, according to a press release, which noted this will involve the hiring of additional staff and the expansion of international offices.
The round was led by Generation Investment Management LLP, a sustainable investing organization, co-founded and chaired by former U.S. Vice-President Al Gore.
In other news, the Ontario Teachers’ Pension Plan is leading a $290 million funding round for CD Finance Management Co. Ltd., a Beijing-based financial institution that primarily offers services to underserved, rural communities.
The company uses technologies designed to make providing access to convenient, safe and reliable microfinance options for rural Chinese people. The majority of its credit is offered to women and to the agricultural sector.
Olivia Steedman, senior managing partner of the Teachers’ Innovation Platform, said the investment would help “create better futures for China’s rural population.”