ECP, a software platform built specifically for assisted living communities, has secured a significant growth investment led by Level Equity, with participation from existing investors and the company’s management team. The Milwaukee-based company said it will use what it described as the largest growth investment in assisted living software history to accelerate product development, with a focus on AI, value-based care, and ease of use.
ECP said it serves more than 8,000 assisted living communities across the United States and has increased its growth rate in recent years, with customers that include large and fast-growing senior living operators. The company provides an all-in-one suite that includes electronic medication administration records, electronic health records, customer relationship management tools, move-in workflows, billing, and business intelligence, supported by an AI and data foundation intended to improve both care delivery and operations.
The company said its platform is designed to reduce the administrative burden on frontline staff by making workflows simple for caregivers and medication passers, allowing more time for resident care. ECP said its AI and analytics capabilities are embedded across the product suite to help operators monitor changing resident acuity and improve revenue capture, assist medication passers in avoiding medication errors, and help clinical teams identify fall risks and intervene earlier.
ECP positioned the investment as reinforcing a broader shift in the assisted living market, as operators migrate away from legacy software originally built for other care settings toward modern platforms purpose-built for assisted living. Level Equity said it views ECP as a market leader in a large and expanding segment of senior care, and expects the company to further accelerate innovation across stakeholders in the senior living value chain, including owners, operators, clinicians, caregivers, residents, and families.
Level Equity described itself as a middle market private investment firm focused on providing long-term capital to rapidly growing software and technology-enabled businesses and said it has raised more than $4.5 billion in committed capital and completed more than 125 investments since inception.
KEY QUOTES:
“Assisted living is the most human care setting in the world. It is people helping people get dressed, eat, bathe, and use the toilet. Our goal at ECP is to build easy-to-use technology to support this vital work,” said Adam Aisen, the CEO of ECP. “This fundraise represents an incredible opportunity for ECP to leverage once-in-a-lifetime technological advancements to make life better for seniors and for the people who care for them across the country. Our management team and many of our existing investors participated alongside Level Equity in this investment and the entire ECP team is thrilled to continue to partner with our amazing customers to drive this important work forward.”
Adam Aisen, Chief Executive Officer, ECP
“After tracking ECP for over a decade, we could not be more excited to back Adam and the entire team on their continued journey to deliver the industry’s most innovative software platform. Taking care of our aging population is one of the most important things we do and ever more challenging given demographic and health trends,” said Ben Levin, Level Equity Co-Founder and CEO. “ECP is a uniquely attractive business that has grown dramatically in this enormous and expanding market. Now is the time to aggressively accelerate and enhance their market leading capabilities for each constituent in the senior living value chain – owners, operators, clinicians, caregivers and, most importantly, residents and their families. Like millions of other Americans, I’m living through my own parents aging into and through various forms of senior care and recognize the challenges and complexities – functionally, financially, and emotionally. Nothing is more important than doing this well and I am humbled and excited to be part of an organization that can allow others to do the same with less risk and more transparency and confidence.”
Ben Levin, Co-Founder and Chief Executive Officer, Level Equity
