A senior living tech company focused on care coordination has raised millions more dollars in its latest funding round.
Sage on Wednesday announced that it had raised $15 million in Series A funding thanks to Maveron, a new investor. The company’s other major investors include Goldcrest Capital, Animo Ventures and Distributed Ventures.
The funding will help Sage grow in size and develop new functionalities for the platform. As part of the new fundraise, Maveron Partner Natalie Dillon is joining Sage’s board of directors as its first board member from the outside.
Sage’s care coordination platform “fills a critical gap” in senior living communities by connecting residents in need of help to caregivers.Using only their smartphones, caregivers can use the platform to more quickly address care needs. The platform also collects data on residents to help track their needs over time and records metrics, such as incident response time, to improve care.
According to Sage, communities using the platform have effectively cut response times in half while reducing employee turnover. The company works with hundreds of senior living communities across the U.S.
“Senior living communities across the country have embraced our platform because it provides clear improvements to older adults’ care experience, giving families increased transparency and peace of mind, while also providing a superior experience for caregiver teams,” said Sage Co-Founder and CEO Raj Mehra. “We offer tangible outcomes and present insights that these communities didn’t have access to before now, yet there is so much more to be done.”
The latest money infusion comes more than a year after Sage closed on $9 million in seed funding, bringing its total fundraise to date to $24 million.
