Sage Raises $35M to Modernize Senior Living Operations – AlleyWatch

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The senior dwelling trade faces a rising disaster because the getting older inhabitants quickly outpaces the supply of caregivers, with the resident-to-caregiver ratio anticipated to double from 1.7 to three.4 by 2030. Most senior dwelling communities nonetheless depend on outdated instruments like paper data, post-it notes, and walkie-talkies, resulting in delayed response occasions and making it troublesome to trace and enhance high quality of care. Sage replaces conventional nurse name methods with trendy cloud-based expertise that gives real-time information and insights. The platform has already helped operators triage 1.3 million care occasions, decreasing common response occasions from 20 minutes to below 8 minutes whereas reducing employees turnover by 20% in collaborating communities. By way of automation and data-driven insights, Sage empowers caregivers to supply higher care whereas giving operators the visibility they should make knowledgeable choices about staffing and resident wants. At present serving tons of of communities throughout 26 states, Sage is pioneering a brand new normal for senior care operations that advantages residents, caregivers, and operators alike.

AlleyWatch caught up with Sage CEO Raj Mehra to be taught extra in regards to the enterprise, the corporate’s strategic plans, newest spherical of funding, and far, rather more…

Who had been your buyers and the way a lot did you increase?

$35M Sequence B.

Inform us in regards to the services or products that Sage presents.

Sage is the operations administration platform Senior Residing has been lacking. By changing outdated nurse name methods with proprietary expertise and cloud-based software program, Sage supplies real-time information, transparency, and accountability. For the primary time, operators can observe caregiver actions, time spent with residents, and tendencies in care wants—information that was beforehand unavailable.

Sage empowers caregivers with instruments to streamline their work and obtain the popularity they deserve, decreasing burnout and bettering job satisfaction. It delivers the insights wanted to make knowledgeable operational choices whereas addressing long-standing ache factors in Senior Residing.

Sage isn’t only a system; it’s the muse for the way forward for care and care administration.

What impressed the beginning of Sage?

The preliminary spark got here whereas watching my dad and mom take care of my grandmother. I noticed that the very best instruments obtainable to maintain her protected had been emergency alert pendants and child screens. There was no software program to assist caregiver workflows or to supply insights to observe her wants and establish areas requiring extra care. My dad and mom knew the best threat was a fall. Nonetheless, regardless of their tireless efforts and all of the measures taken, my grandmother suffered a traumatic fall that fractured her hip—in the end resulting in her passing.

I knew there needed to be a greater means. Expertise had seemingly modified each different trade. Information was a boon that led to smarter, extra strategic workflows. Why couldn’t it’s used to take care of family members like my grandmother?

How is Sage completely different?

Sage is the one platform of its sort, utilizing the nurse name system as a vessel to generate actionable information on resident care, staffing efficiency, and operational efficiencies, all powered by cloud-based expertise.

What market does Sage goal and the way huge is it?

Sage targets the U.S. Senior Residing market, protecting the total continuum of take care of getting older—The U.S. senior dwelling market measurement was estimated at $923.2B in 2023 and is projected to develop at a CAGR of 4.16% from 2024 to 2030, because of the growing aged inhabitants.and anticipated to develop additional. By 2030, the variety of older adults dwelling in senior dwelling operations is predicted to greater than double from 3.85M to 8M whereas the variety of caregivers for aged individuals is just anticipated to tick up barely, from 2.29M to 2.35M. Basic math tells you that the ratio of residents to caregivers will double from 1.7 to three.4 over that very same interval, a ramp that can be unsustainable with out expertise.

What’s what you are promoting mannequin?

Sage replaces nurse name methods with proprietary {hardware} and cloud-based software program. Income is generated by way of a one-time charge and month-to-month SaaS charge.

How are you making ready for a possible financial slowdown?

Given the getting older demographics as we talked about above and occupancy ranges growing to 85%+ ranges and the necessity to enhance operations and effectivity, we imagine that our product is related and can assist throughout sluggish downs and powerful durations.

What was the funding course of like?

We make long run relationships with buyers which can be occupied with us, our mission, and may add worth to our enterprise versus brief fundraising sprints. These are partnerships which can be extraordinarily necessary and we imagine take time to determine.

What are the most important challenges that you simply confronted whereas elevating capital?

A very powerful factor for us is to search out buyers that share our values and orientation in the direction of our mission in addition to take the time to know the size of our market. It takes time to search out a lot of these partnerships.

What are the milestones you propose to realize within the subsequent six months?

With this Sequence B funding, Sage will enter its subsequent part, bridging unplanned and deliberate care—two symbiotic parts of resident administration. By repeatedly 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 might solely be up to date quarterly or semi-annually. Older adults don’t have static wants for six months; their acuity can shift inside days. By offering well timed interventions throughout these important home windows, we will forestall damaging well being outcomes.

Moreover, we are going to turn into the platform that’s the supply of fact for care, seamlessly integrating different gadgets like fall resolution companions to supply a single interface for caregivers to triage all exercise. This method creates proactive options to ship a complete and linked method to resident care administration.

What recommendation are you able to provide firms in New York that don’t have a contemporary injection of capital within the financial institution?

For firms in New York with no latest injection of capital, deal with demonstrating robust market match and scalability. Spotlight measurable progress metrics, buyer success tales, and the distinctive worth your services or products brings to the market. Construct relationships with potential buyers early. Preserve monetary self-discipline to increase your runway and put money into areas with the very best ROI.

What’s your favourite fall vacation spot in and across the metropolis?

Union Sq. Farmer’s Market.