Australian home care innovator Five Good Friends has announced a strategic partnership with global investment firm TPG, marking a major milestone in its mission to transform in-home care.
Under the agreement, TPG will acquire a majority interest in the company, joining Five Good Friends’ co-founders Simon Lockyer and Nathan Betteridge, who will retain significant stakes and continue to lead the business. EQT, a previous investor, will retain a minority interest.
Founded in 2016, Five Good Friends has established itself as a tech-led disruptor in the growing home care sector. The company now delivers over 30,000 care visits each month and has clocked more than 3 million hours of care. The company has also developed Lookout, a leading SaaS platform used by over 100 home care and NDIS providers to manage care delivery and ensure transparency, oversight, and efficiency. Five Good Friends was awarded Highly Commended in the 2024 Future of Ageing Awards for Service Transformation…Read more.
“For the entire Five Good Friends and Lookout team, TPG’s investment is validation of our ambition to build a scalable care platform that delivers high-quality care experiences.”
Simon Lockyer
COO Nathan Betteridge added: “TPG’s experience in healthcare and software will help us empower even more people to stay connected to the homes, families, and communities they love. We are committed to transforming home care into caring homes.”
TPG’s Co-Head of Asia and Head of Australia & New Zealand, Joel Thickins, praised Five Good Friends for its unique blend of human-centred care and digital capability.
“At a time of aged care reform, their cloud-based care model stands out,” Mr Thickins said. “We’re excited to partner with the team as they continue to scale and deliver better, tech-enabled health outcomes.”
Five Good Friends is now among Australia’s top 20 home care providers, positioning itself for further expansion as demand for in-home care continues to rise with the ageing population.
