Sage Raises $35 Million in Funding to Innovate Senior Living Management Solutions

Sage Transforms Senior Living Operations with New Funding

Sage, an innovative player in the senior living industry, has recently announced a significant milestone in its growth journey. The company has successfully raised $35 million in Series B funding, a move aimed at revolutionizing operations management for senior living communities across the United States and beyond. This latest funding round was spearheaded by IVP, a renowned venture capital firm, with additional backing from Friends & Family Capital and PLUS Capital, along with existing investors like Maveron, Goldcrest Capital, Distributed Ventures, and ANIMO Ventures.

Having already established its presence in hundreds of communities across 26 states, Sage's platform enables immediate access to actionable data, thus driving improvements in resident care, optimizing staffing processes, and offering crucial insights that enhance operational efficiency. This platform, the first of its kind to be cloud-based within the senior living sector, is designed not only for operators but also considers the needs of families and caregivers alike.

Raj Mehra, Sage's Co-Founder and CEO, emphasized the importance of their mission: "At Sage, our goal is to be the operational backbone for all long-term care communities." He highlights the platform's remarkable capacity to reduce caregiver response time significantly from an average of 20 minutes down to under 8 minutes, showcasing the company's commitment to improving care quality through technology. This year alone, Sage has facilitated the triage of over 1.3 million care events, illustrating its direct impact on enhancing resident well-being.

With the competitive turnover rate in senior caregiving—hovering around 85%—Sage’s innovative solutions meet a pressing industry need. The platform has successfully reduced staff turnover by approximately 20% in the communities utilizing its services, providing stability not only for residents but also ensuring a more favorable work environment for caregivers.

Sage is continuously innovating, with numerous features launched this year to optimize senior living operations. From user-friendly caregiver tools to insightful real-time data analysis, Sage aims to serve as a crucial partner for senior living providers navigating the complexities of modern caregiving. The investment from Series B will bolster Sage's expansion plans, supporting both team growth and advanced product feature development.

IVP General Partner Eric Liaw shared his enthusiasm for the partnership with Sage, expressing confidence in their vision to revolutionize caregiving through technology. He noted, "Caregivers and senior living operators rave about Sage because they are bringing caregiving into the 21st century, with technology that speeds up life-saving care."

With the total capital raised now at $59 million, including a previously secured $15 million Series A round, Sage is poised to make further strides in the industry. The company aims to extend its reach, allowing more senior living communities to take advantage of its advanced offerings.

Currently, many senior living facilities still depend on traditional documentation methods like paper records and post-it notes. This outdated approach increases the workload on caregivers, especially during long shifts. By automating the data entry process, Sage offers not only a respite for caregivers but also provides operators with crucial insights that lead to more effective and timely resident care. Caregivers like Michelle from Waterford at Plymouth are already experiencing the advantages, stating, "With Sage, I can help a resident, click a button, add a quick note, and be done." This ease of use is transforming caregiving practices, making documentation faster and more reliable.

In conclusion, Sage represents a pioneering force in the senior living sector, prioritizing the needs of caregivers and residents alike. Their commitment to improving the quality of care through modern technology and operational insights stands to reshape the landscape of senior living management significantly. As Sage continues to innovate, the future looks bright for both caregivers and the communities they serve.