iCareManager Raises Growth Capital

iCareManager, based in Columbia, Maryland, provides a comprehensive EHR and care management platform for intellectual and developmental disability service providers. The company has secured a growth investment from Five Elms Capital.

Investors

Five Elms Capital, a growth equity firm that invests in high-growth B2B software businesses, led the investment round.

iCareManager Use of Funds

iCareManager plans to use the new capital to accelerate the modernization of its technology platform, expand its suite of AI-enabled capabilities, grow its senior leadership team, and extend its go-to-market reach to more provider organizations across the United States.

About iCareManager

Founded in 2011 by Kamal Sheikh and Babar Nawaz, iCareManager offers a unified, cloud-based platform designed to support human services providers. The product connects clinical care, service delivery, compliance, workforce management, and billing, helping providers manage Medicaid waivers, service authorizations, and medication management in a single view.

Funding Details

Company Website: https://icaremanager.com

Company: iCareManager
Funding Date: November 10, 2026
Lead Investor: Five Elms Capital
Company Website: https://www.icaremanager.com
Software Category: Healthcare Software
Source: https://www.prnewswire.com/news-releases/icaremanager-announces-growth-investment-from-five-elms-capital-302935488.html