Sage Technology Improves Senior Living Community Operations, Improving both Caregiver and Resident Satisfaction, and Reducing Caregiver Turnover by 40%
Sage, a technology company reinventing care for older adults through its unified care coordination platform, has raised $15 million in Series A funding led by new investor Maveron. The round also includes all major investors including Goldcrest Capital, ANIMO Ventures, and Distributed Ventures. Natalie Dillon, partner at Maveron, will be joining the Sage board of directors as the first outside board member.
In the wake of widespread healthcare worker shortages and increasing numbers of older adults as a percent of the U.S. population, Sage technology fills a critical gap within senior living communities. Sage offers a modern care coordination platform providing incident response capabilities and giving care teams access to robust data-driven insights through an integrated communications app they can access easily through a smartphone. Communities enabled with Sage have seen caregivers’ response times improve by as much as 50 percent while also improving caregiver satisfaction and up to a 40 percent reduction in caregiver churn. Sage has partnered with hundreds of senior living communities across the U.S. and has seen resident and family complaints reduced by up to 90%.
“Sage changes the way care teams work by providing them with the ability to communicate efficiently across the team, respond to potentially life-threatening situations more quickly, and derive critical insights about their residents’ care needs through data and analytics,” says Dillon. “As the labor shortage among caregivers accelerates and the U.S. population continues to skew older, the technology Sage provides helps to alleviate some of the most serious challenges in U.S. healthcare today.”
This latest investment brings the total capital raised by Sage to $24 million, following $9 million in seed funding last year. It will support the growth of critical functions within the Sage team, scaling the current client base and developing new high-value product features. This comes on the heels of recent platform enhancements that offer care managers real-time insights, empowering data-driven decisions for things like resident care and staffing.
According to a 2021 survey released by the American Health Care Association and National Center for Assisted Living (AHCA/NCAL), nearly every nursing home (99 percent) and assisted living facility (96 percent) in the U.S. is facing a staffing shortage. 59 percent of nursing homes and nearly one-third of assisted living providers are experiencing a high level of staffing shortages. This situation was exasperated by the extremely challenging conditions brought on by the COVID-19 pandemic and has not improved since.
“Our mission at Sage is to improve the care and quality of life for caregivers and older adults,” says Raj Mehra, Co-Founder and CEO at Sage. “Senior living communities across the country have embraced our platform because it provides clear improvements to older adults’ care experience, giving families increased transparency and peace of mind, while also providing a superior experience for caregiver teams. We offer tangible outcomes and present insights that these communities didn’t have access to before now, yet there is so much more to be done.”
About Sage
Sage technology empowers care teams to provide the best support to senior living community residents, leveraging a first-of-its-kind unified care platform. Sage seamlessly captures essential data that saves lives – helping to identify health anomalies, rightsizing levels of care, and providing transparency around staffing needs. Sage’s data platform generates insights to enable care teams to make better decisions for residents while driving more efficient operations and transparency for families. For more information about Sage, please visit hellosage.com.
Originally announced October 25th, 2023
