Senior dwelling tech firm Sage has secured a further $35 million in Collection B funding, which it plans to make use of to “bridge deliberate and unplanned care,” in keeping with CEO Raj Mehra.
Institutional Enterprise Companions (IVP) led the funding spherical, with participation from Pals & Household Capital and Plus Capital. Current Sage traders Maveron, Goldcrest Capital, Distributed Ventures, and Animo Ventures additionally participated.
“By constantly monitoring every day resident wants, our system, validated by human enter, can dynamically adapt care plans. This stands in stark distinction to the present normal, the place plans could solely be up to date quarterly or semi-annually,” Mehra stated. “Older adults don’t have static wants for six months; their acuity can shift inside days. By offering well timed interventions throughout these vital home windows, we are able to forestall unfavourable well being outcomes.”
The $35 million will allow Sage to spend money on its crew and product strains so as to have the ability to proceed to scale with extra operators, he added. At current, Sage helps “a whole bunch” of senior dwelling communities throughout 26 states.
“As a part of this journey, we shall be recommitting to our prospects by investing in instruments, sources and initiatives that guarantee our improvement is guided by the wants and insights of our companions and the business as an entire,” he stated. “These steps place Sage to ship adaptive, impactful expertise whereas sustaining a customer-centric strategy at each stage.”
Sage stated its platform has decreased turnover by a mean of 20% in caregiving positions for communities that use it.
Sage has raised $59 million in capital, including onto the $15 million in Collection A funding it acquired in October 2023.
“The mission is barely potential via true partnership with operators at each stage. Sage is a expertise platform, however at our core, we serve individuals,” Mehra stated.
