The senior dwelling business faces a rising disaster because the growing old 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 Most senior dwelling communities nonetheless depend on outdated instruments like paper information, post-it notes, and walkie-talkies, resulting in delayed response occasions and making it troublesome to trace and enhance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 trendy cloud-based know-how that gives real-time knowledge and insights. The platform has already helped operators triage 1.3 million care occasions, lowering common response occasions from 20 minutes to underneath 8 minutes whereas reducing employees turnover by 20% in collaborating communities. By automation and data-driven insights, Sage empowers caregivers to offer higher care whereas giving operators the visibility they should make knowledgeable selections about staffing and resident wants. At the moment serving a whole lot 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 study 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 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 By changing outdated nurse name techniques with proprietary know-how and cloud-based software program, Sage offers real-time knowledge, transparency, and accountability. For the primary time, operators can observe caregiver actions, time spent with residents, and traits in care wants—knowledge that was beforehand unavailable.
Sage empowers caregivers with instruments to streamline their work and obtain the popularity they deserve, lowering burnout and enhancing job satisfaction. It delivers the insights wanted to make knowledgeable operational selections 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 most effective instruments obtainable to maintain her protected had been emergency alert pendants and child displays. There was no software program to help caregiver workflows or to offer insights to watch her wants and establish areas requiring extra care. My mother and father 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—finally resulting in her passing.
I knew there needed to be a greater means. Know-how had seemingly modified each different business. Knowledge 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 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 huge is it?
Sage targets the U.S. Senior Dwelling market, overlaying the total continuum of take care of growing old—The U.S. senior dwelling market dimension 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 barely anticipated to tick up barely, from 2.29M to 2.35M. Simple arithmetic 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 your online business mannequin?
Sage replaces nurse name techniques with proprietary {hardware} and cloud-based software program. Income is generated by way of a one-time payment and month-to-month SaaS payment.
How are you making 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 consider that our product is related and may help throughout gradual downs and powerful intervals.
What was the funding course of like?
We make long run relationships with buyers which might be considering us, our mission, and might add worth to our enterprise versus quick fundraising sprints. These are partnerships which might be extraordinarily necessary and we consider take time to ascertain.
What are the most important challenges that you simply confronted whereas elevating capital?
A very powerful factor for us is to seek out buyers 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 seek out a lot of these partnerships.
What are the milestones you propose to attain within the subsequent six months?
With this Sequence B funding, Sage will enter its subsequent section, bridging unplanned and deliberate care—two symbiotic parts of resident administration. By repeatedly 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 are able to stop adverse well being outcomes.
Moreover, we are going to turn into the platform that’s the supply of fact for care, seamlessly integrating different units like fall answer companions to offer 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 firms in New York that should not have a contemporary injection of capital within the financial institution?
For firms in New York with no current injection of capital, deal with demonstrating sturdy market match and scalability. Spotlight measurable development metrics, buyer success tales, and the distinctive worth your services or products brings to the market. Construct relationships with potential buyers early. Keep monetary self-discipline to increase your runway and spend money on areas with the best ROI.
What’s your favourite fall vacation spot in and across the metropolis?
Union Sq. Farmer’s Market.
