The senior dwelling trade faces a rising disaster because the growing old inhabitants quickly outpaces the provision 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 Most senior dwelling communities nonetheless depend on outdated instruments like paper information, post-it notes, and walkie-talkies, resulting in delayed response occasions and making it troublesome to trace and enhance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 techniques with fashionable cloud-based know-how that gives real-time knowledge and insights. The platform has already helped operators triage 1.3 million care occasions, decreasing common response occasions from 20 minutes to underneath 8 minutes whereas reducing employees turnover by 20% in collaborating communities. By means 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 the moment serving lots of of communities throughout 26 states, Sage is pioneering a brand new commonplace 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 have been your traders and the way a lot did you elevate?
$35M Sequence B.
Inform us in regards to the services or products that Sage affords.
Sage is the operations administration platform Senior Dwelling has been lacking. By changing outdated nurse name techniques with proprietary know-how and cloud-based software program, Sage gives real-time knowledge, transparency, and accountability. For the primary time, operators can observe caregiver actions, time spent with residents, and tendencies in care wants—knowledge 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 Dwelling.
Sage isn’t only a system; it’s the inspiration for the way forward for care and care administration.
What impressed the beginning of Sage?
The preliminary spark got here whereas watching my mother and father take care of my grandmother. I noticed that the very best instruments obtainable to maintain her protected have been emergency alert pendants and child displays. There was no software program to help caregiver workflows or to supply insights to watch her wants and establish areas requiring extra care. My mother and father knew the best danger 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 manner. Expertise had seemingly modified each different trade. Information was a boon that led to smarter, extra strategic workflows. Why couldn’t or not it’s used to take care of family members like my grandmother?
How is Sage completely different?
Sage is the one platform of its form, utilizing the nurse name system as a vessel to generate actionable knowledge on resident care, staffing efficiency, and operational efficiencies, all powered by cloud-based know-how.
What market does Sage goal and the way large is it?
Sage targets the U.S. Senior Dwelling market, masking the complete continuum of take care of growing old—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 rising 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 folks is simply 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 shall be unsustainable with out know-how.
What’s what you are promoting mannequin?
Sage replaces nurse name techniques 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 getting ready for a possible financial slowdown?
Given the growing old demographics as we talked about above and occupancy ranges rising to 85%+ ranges and the necessity to enhance operations and effectivity, we imagine that our product is related and might help throughout sluggish downs and robust intervals.
What was the funding course of like?
We make long run relationships with traders which can be fascinated with us, our mission, and might add worth to our enterprise versus brief fundraising sprints. These are partnerships which can be extraordinarily essential 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 traders that share our values and orientation in direction of our mission in addition to take the time to grasp the scale of our market. It takes time to search out these kinds of partnerships.
What are the milestones you propose to attain within the subsequent six months?
With this Sequence B funding, Sage will enter its subsequent part, bridging unplanned and deliberate care—two symbiotic components of resident administration. By constantly monitoring each day resident wants, our system, validated by human enter, can dynamically adapt care plans. This stands in stark distinction to the present commonplace, the place plans could 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 essential home windows, we will forestall destructive well being outcomes.
Moreover, we are going to develop into the platform that’s the supply of fact for care, seamlessly integrating different units like fall resolution companions to supply a single interface for caregivers to triage all exercise. This strategy creates proactive options to ship a complete and related strategy to resident care administration.
What recommendation are you able to provide corporations in New York that shouldn’t have a recent injection of capital within the financial institution?
For corporations in New York with no current injection of capital, concentrate on demonstrating sturdy 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 traders early. Keep monetary self-discipline to increase your runway and put money into areas with the best ROI.
What’s your favourite fall vacation spot in and across the metropolis?
Union Sq. Farmer’s Market.
