The senior residing 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 Most senior residing communities nonetheless depend on outdated instruments like paper information, post-it notes, and walkie-talkies, resulting in delayed response occasions and making it troublesome to trace and enhance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 expertise that gives real-time information and insights. The platform has already helped operators triage 1.3 million care occasions, decreasing common response occasions from 20 minutes to beneath 8 minutes whereas reducing workers turnover by 20% in taking part communities. By means of 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. Presently 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 be taught extra concerning the enterprise, the corporate’s strategic plans, newest spherical of funding, and far, way more…
Who have been your buyers and the way a lot did you elevate?
$35M Sequence B.
Inform us concerning the services or products that Sage provides.
Sage is the operations administration platform Senior Residing has been lacking. By changing outdated nurse name techniques with proprietary expertise and cloud-based software program, Sage gives real-time information, transparency, and accountability. For the primary time, operators can observe caregiver actions, time spent with residents, and tendencies in care wants—information 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 selections whereas addressing long-standing ache factors in Senior Residing.
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 look after my grandmother. I noticed that the perfect instruments accessible to maintain her secure have 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 determine areas requiring further 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. Know-how 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 look after family members like my grandmother?
How is Sage totally different?
Sage is the one platform of its form, utilizing the nurse name system as a vessel to generate actionable information on resident care, staffing efficiency, and operational efficiencies, all powered by cloud-based expertise.
What market does Sage goal and the way massive is it?
Sage targets the U.S. Senior Residing market, overlaying the total continuum of look after growing old—The U.S. senior residing market dimension was estimated at $923.2B in 2023 and is projected to develop at a CAGR of 4.16% from 2024 to 2030, as a result of rising aged inhabitants.and anticipated to develop additional. By 2030, the variety of older adults residing in senior residing operations is predicted to greater than double from 3.85M to 8M whereas the variety of caregivers for aged individuals 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 might be unsustainable with out expertise.
What’s your small business mannequin?
Sage replaces nurse name techniques with proprietary {hardware} and cloud-based software program. Income is generated through 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 powerful intervals.
What was the funding course of like?
We make long run relationships with buyers which can be concerned about us, our mission, and may add worth to our enterprise versus brief fundraising sprints. These are partnerships which can be extraordinarily necessary and we imagine take time to determine.
What are the largest challenges that you simply confronted whereas elevating capital?
A very powerful factor for us is to search out buyers that share our values and orientation in the direction of our mission in addition to take the time to know the size of our market. It takes time to search out these kinds of partnerships.
What are the milestones you intend 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 parts of resident administration. By repeatedly monitoring day by 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 might 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 important home windows, we will forestall damaging well being outcomes.
Moreover, we’ll turn out to be the platform that’s the supply of fact for care, seamlessly integrating different gadgets like fall answer companions to offer a single interface for caregivers to triage all exercise. This method creates proactive options to ship a complete and related method to resident care administration.
What recommendation are you able to supply corporations in New York that wouldn’t have a recent injection of capital within the financial institution?
For corporations in New York with no latest injection of capital, deal with demonstrating robust 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 very best ROI.
What’s your favourite fall vacation spot in and across the metropolis?
Union Sq. Farmer’s Market.
