The senior residing trade faces a rising disaster because the growing older 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 Most senior residing communities nonetheless depend on outdated instruments like paper information, post-it notes, and walkie-talkies, resulting in delayed response instances and making it troublesome to trace and enhance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 instances from 20 minutes to underneath 8 minutes whereas lowering workers turnover by 20% in taking part communities. By 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 present serving a whole lot of communities throughout 26 states, Sage is pioneering a brand new normal for senior care operations that advantages residents, caregivers, and operators alike.
AlleyWatch caught up with Sage CEO Raj Mehra to study extra concerning the enterprise, the corporate’s strategic plans, newest spherical of funding, and far, way more…
Who had been your buyers and the way a lot did you increase?
$35M Collection B.
Inform us concerning the services or products that Sage provides.
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 By changing outdated nurse name techniques with proprietary know-how and cloud-based software program, Sage offers real-time knowledge, transparency, and accountability.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 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 look after my grandmother. I noticed that the very best instruments obtainable to maintain her secure had been emergency alert pendants and child screens. There was no software program to help caregiver workflows or to supply insights to observe her wants and determine 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. Know-how had seemingly modified each different trade. Knowledge 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 type, 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, overlaying the total continuum of look after growing older—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 growing 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 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 can be unsustainable with out know-how.
What’s your corporation 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 older demographics as we talked about above and occupancy ranges growing to 85%+ ranges and the necessity to enhance operations and effectivity, we consider that our product is related and will help throughout gradual downs and powerful intervals.
What was the funding course of like?
We make long run relationships with buyers which can be inquisitive about us, our mission, and may add worth to our enterprise versus quick fundraising sprints. These are partnerships which can be extraordinarily necessary and we consider take time to determine.
What are the largest challenges that you just 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 know the size of our market. It takes time to seek out these kinds of partnerships.
What are the milestones you intend to attain within the subsequent six months?
With this Collection B funding, Sage will enter its subsequent section, bridging unplanned and deliberate care—two symbiotic components of resident administration. By constantly monitoring every day resident wants, our system, validated by human enter, can dynamically adapt care plans. This stands in stark distinction to the present normal, 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 crucial home windows, we will forestall detrimental well being outcomes.
Moreover, we’ll develop into the platform that’s the supply of reality for care, seamlessly integrating different units like fall answer companions to supply a single interface for caregivers to triage all exercise. This strategy creates proactive options to ship a complete and linked strategy to resident care administration.
What recommendation are you able to provide firms in New York that wouldn’t have a recent injection of capital within the financial institution?
For firms in New York with out a current injection of capital, concentrate on 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 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.
