WellAWARE Systems announced today that it has closed $7.5 million of growth capital from Valhalla Partners and .406 Ventures that will allow the company to better serve the important and rapidly growing senior care technology market. WellAWARE’s technology was jointly developed by biomedical engineers and software developers at the University of Virginia’s Medical Automation Research Center and two of the country’s largest providers of senior care, The Evangelical Lutheran Good Samaritan Society and Volunteers of America. Based on this collaborative effort between the senior care industry and leading technology research organizations, WellAWARE Systems has developed a broad set of monitoring, reporting and analytical capabilities to improve the lives of seniors. WellAWARE’s innovative solution is delivered in a Software as a Service (SaaS) format, thereby reducing upfront customer costs and simplifying implementation for senior care providers. The system has been deployed in both home and community-based service settings as well as senior living facilities.
“The investments from Valhalla Partners and .406 Ventures affirm the value in our wellness monitoring solution and the growing demand for next-generation healthcare technologies,” said Jeff Noce, president and CEO, WellAWARE Systems. “We are proud to be a part of this growing industry and with the investments from Valhalla Partners and .406 Ventures we now have the expertise, resources and influence to help us continue to build a great company and pioneer the evolution of the advanced senior care technology market.”