The senior residing business faces a rising disaster because the ageing 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 Most senior residing communities nonetheless depend on outdated instruments like paper information, post-it notes, and walkie-talkies, resulting in delayed response occasions and making it troublesome to trace and enhance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 programs with fashionable cloud-based expertise 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 beneath 8 minutes whereas reducing employees 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 choices about staffing and resident wants. At the moment serving a whole bunch 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, far more…
Who had been your buyers and the way a lot did you elevate?
$35M Collection B.
Inform us concerning the services or products that Sage affords.
Sage is the operations administration platform Senior Residing has been lacking. By changing outdated nurse name programs with proprietary expertise and cloud-based software program, Sage gives real-time knowledge, transparency, and accountability. For the primary time, operators can monitor caregiver actions, time spent with residents, and developments 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 bettering job satisfaction. It delivers the insights wanted to make knowledgeable operational choices whereas addressing long-standing ache factors in Senior Residing.
Sage isn’t only a system; it’s the muse for the way forward for care and care administration.
What impressed the beginning of Sage?
The preliminary spark got here whereas watching my dad and mom look after my grandmother. I noticed that the very best instruments out there to maintain her protected had been emergency alert pendants and child screens. There was no software program to help caregiver workflows or to offer insights to observe her wants and establish areas requiring extra care. My dad and mom 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—finally resulting in her passing.
I knew there needed to be a greater method. Know-how had seemingly modified each different business. 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 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 expertise.
What market does Sage goal and the way huge is it?
Sage targets the U.S. Senior Residing market, masking the total continuum of look after ageing—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 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 expertise.
What’s your small business mannequin?
Sage replaces nurse name programs with proprietary {hardware} and cloud-based software program. Income is generated through a one-time price and month-to-month SaaS price.
How are you getting ready for a possible financial slowdown?
Given the ageing 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 sluggish downs and robust intervals.
What was the funding course of like?
We make long run relationships with buyers which are involved in us, our mission, and might add worth to our enterprise versus quick fundraising sprints. These are partnerships which are extraordinarily necessary and we consider take time to determine.
What are the largest challenges that you simply confronted whereas elevating capital?
An important factor for us is to seek out buyers that share our values and orientation in the direction of our mission in addition to take the time to grasp the size of our market. It takes time to seek out most of these partnerships.
What are the milestones you propose to attain within the subsequent six months?
With this Collection 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 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 vital home windows, we will stop unfavorable well being outcomes.
Moreover, we are going to change into the platform that’s the supply of reality for care, seamlessly integrating different gadgets like fall resolution companions to offer a single interface for caregivers to triage all exercise. This method creates proactive options to ship a complete and linked method to resident care administration.
What recommendation are you able to provide firms in New York that don’t have a recent injection of capital within the financial institution?
For firms in New York and not using a current injection of capital, concentrate on 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 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.
