Sage seeds $9M for senior care facilities operating system

2022-07-30 02:29:09 By : Ms. Annie liu

Sage, a startup hoping to replace nurse call systems at senior living facilities, notched $9 million in seed funding, CEO Raj Mehra tells Axios exclusively.

Why it matters: Despite the growing aging population, elder care in the U.S. remains antiquated.

Deal details: Goldcrest Capital led the round. Insiders ANIMO Ventures, Distributed Ventures and Merus Capital joined.

Context: There's been a lot of recent traction among startups aiming to keep people — seniors or otherwise — at home, but less activity among companies focused on improving senior care facilities. For instance:

💭 Our thought bubble: Sage could eventually be an M&A target for a nursing facility operator interested in using such a service to cut costs and improve outcomes.

By the numbers: In 2050, the number of people over age 65 is expected to hit roughly 84 million, almost double its estimated population of 43 million in 2012, per the U.S. Census.

One (un)fun thing: Mehra and co-founders Ellen Johnston and Matt Lynch met at Palantir Technologies, where Mehra was helping to build out the company's health care practice, and connected over similarly negative experiences with senior care.

How it works: Sage's software aims to prevent emergencies by connecting older adults in senior care facilities to caregivers when they're in need. Its hardware replaces tools like pull cords and help buttons with press-able and voice-activated devices.

What's next: Although Sage is starting in elder facilities, Mehra says he foresees a future for the company at hospitals and even, potentially, in the home.

🏠 The take home: Entrepreneurs across the U.S., driven by their own gloomy brushes with elder care, are increasingly pursuing tech-infused approaches to change the way older people are cared for.

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