Gold Coast-based disability support service platform Kynd has today secured financial backing from one of Australia’s largest family investors Gandel Invest and Greencross founder Dr Glen Richards to the tune of $2 million.
Led by Tony and Adam Gandel, the growth capital raise positions Kynd - which matches people on the NDIS (National Disability Insurance Scheme) with support workers - to take the solution to the next level as it continues scaling.
As part of the investment, Adam Gandel will join the board and Dr Richards will give his support to Kynd in the form of business advice.
“I have watched Kynd actively evolve their technical capability and community and have been impressed with the positive impact in many peoples’ lives as well as their rapid growth,” Dr Richards said.
“I am delighted to support Kynd both as an investor and mentor.”
Kynd is the brainchild of founder Michael Metcalfe, who discovered the shortfalls and frustrations of the disability and care sector when his mother needed short term support for a medical emergency years ago. He said the lack of simplicity was astounding.
“The experiences of family and friends opened my eyes. I learned disability services were complex,” Metcalfe said.
“When you dive deep into it, you discover the industry is old-school and disorganised, with little personalisation or smart technology.”
Kynd connects NDIS participants directly with support workers, allowing people to match with those they are likely to have something in common with - rather than just being assigned a support worker.
By taking out the middleman Metcalfe says people can easily connect, allowing for more meaningful relationships, while automating and simplifying administration, ultimately increasing the ability of Kynd to service more people and meet rapidly growing demand in the NDIS.
“Within 10 years, we’ll see a fundamentally different disability sector across Australia,” says Metcalfe.
“Almost 50 per cent of people on the NDIS are under 25. We can order pizzas and taxis in three clicks, so why can’t everyone find the right people to help their life? That’s where we come in.
“The big wave of change is still coming”.
Metcalfe says Kynd has seen 335 per cent user growth in the last six months, and is forecast to grow six to eight times in the next three years.
“For the NDIS to reach its full potential and become cost sustainable, more services, providers and the NDIS itself must become technology-led,” say the founder.
“Our technology can scale and deliver a truly personalised alternative to traditional services - while enabling NDIS Participants and Support Workers to build capability.”
“I saw a need for helpful technology and a human approach, so I figured, let’s build a better experience.”
Get our daily business news
Sign up to our free email news updates.