Sage: $15 Million Closed To Improve Care Quality For Older Adults

By Noah Long ● Oct 30, 2023

Sage – a technology company reinventing care for older adults through its unified care coordination platform, has raised $15 million in Series A funding led by new investor Maveron. The round includes all major investors, including Goldcrest Capital, ANIMO Ventures, and Distributed Ventures. Natalie Dillon, partner at Maveron, will join the Sage board of directors as the first outside board member.

The senior living community residents can get assistance or care when needed through Sage’s easy-to-use and real-time alert system. These devices not only communicate with care teams via the app but also collect valuable data to inform analytics and insight generation.

Considering the wake of widespread healthcare worker shortages and increasing numbers of older adults as a percent of the U.S. population, Sage technology provides a critical gap within senior living communities. And Sage offers a modern care coordination platform providing incident response capabilities and giving care teams access to robust data-driven insights through an integrated communications app they can access easily through a smartphone.

Communities using Sage have seen caregivers’ response times improve by as much as 50% while also improving caregiver satisfaction and up to a 40 percent reduction in caregiver churn. Plus, Sage has partnered with hundreds of senior living communities across the U.S. and has seen resident and family complaints reduced by up to 90%.

This funding round brings the total capital raised by Sage to $24 million, following $9 million in seed funding last year. And it will support the growth of critical functions within the Sage team, scaling the current client base and developing new high-value product features. This funding round comes on the heels of recent platform enhancements that offer care managers real-time insights, empowering data-driven decisions for resident care and staffing.

The American Health Care Association and National Center for Assisted Living (AHCA/NCAL) revealed that nearly every nursing home (99 percent) and assisted living facility (96 percent) in the U.S. is facing a staffing shortage (2021 survey). And 59% of nursing homes and nearly one-third of assisted living providers are experiencing a high level of staffing shortages. This situation was also made even more challenging due to the COVID-19 pandemic.

KEY QUOTES:

“Sage changes the way care teams work by providing them with the ability to communicate efficiently across the team, respond to potentially life threatening situations more quickly, and derive critical insights about their residents’ care needs through data and analytics. As the labor shortage among caregivers accelerates and the U.S population continues to skew older, the technology Sage provides helps to alleviate some of the most serious challenges in U.S. healthcare today.”

— Natalie Dillon, partner at Maveron

“Our mission at Sage is to improve the care and quality of life for caregivers and older adults. 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. 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.”

— Raj Mehra, co-founder and CEO at Sage