Sage, a senior care technology company, has raised $65 million in Series C funding to expand its AI platform for nursing homes and assisted living facilities. Its system uses room sensors and AI to scan for resident distress, alerting caregivers in real time to reduce response times significantly.
The company aims to develop predictive AI to monitor daily patterns and flag residents at high risk of health issues. It addresses privacy concerns by stating only specific triggered events are reviewed by authorized staff and all data is deleted within 30 days.
This funding round, led by Goldman Sachs Alternatives, arrives amid a growing senior care shortage in the United States. Sage covers installation costs and operates on a monthly software subscription model.
Main Topics: Company funding announcement, AI platform functionality and goals, data privacy measures, context of the senior care shortage, and business model.
Sage, a New York-based senior care technology firm, said on Thursday it has raised $65 million in new funding to expand its artificial intelligence platform designed to help caregivers in nursing homes and assisted living facilities.
The Series C round was led âby Goldman â Sachs â Alternatives, with participation from existing investors IVP and Goldcrest.
CEO Raj Mehra said current tools in senior care "are not built for how care actually works" leaving staff to manage their entire shift with little more than pagers, paper logs, and a walkie-talkie
Sage installs room sensors and AI â software that âscan for distress every few seconds and âalert the âright caregivers in real time, cutting response â times to around three minutes, compared to up to â45 minutes without the technology
The âcompany plans to build predictive AI that monitors daily patterns like sleep changes, bathroom frequency, and nighttime movement to flag residents at high risk of falling or health decline before anything untoward happens
On privacy, Mehra said âonly the specific triggered event would be reviewed by staff with the right permissions, and âthat all data âis deleted â within 30 days
The latest funding, which brings total capital raised so far to $124 million, comes as the United States âfaces a deepening care shortage. By 2030, 72 million Americans will be of retirement age, Sage said, citing S&P Global
Mehra said the company covers upfront installation costs and charges a monthly software subscription fee.
The Series C round was led âby Goldman â Sachs â Alternatives, with participation from existing investors IVP and Goldcrest.
CEO Raj Mehra said current tools in senior care "are not built for how care actually works" leaving staff to manage their entire shift with little more than pagers, paper logs, and a walkie-talkie
Sage installs room sensors and AI â software that âscan for distress every few seconds and âalert the âright caregivers in real time, cutting response â times to around three minutes, compared to up to â45 minutes without the technology
The âcompany plans to build predictive AI that monitors daily patterns like sleep changes, bathroom frequency, and nighttime movement to flag residents at high risk of falling or health decline before anything untoward happens
On privacy, Mehra said âonly the specific triggered event would be reviewed by staff with the right permissions, and âthat all data âis deleted â within 30 days
The latest funding, which brings total capital raised so far to $124 million, comes as the United States âfaces a deepening care shortage. By 2030, 72 million Americans will be of retirement age, Sage said, citing S&P Global
Mehra said the company covers upfront installation costs and charges a monthly software subscription fee.
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