Sage Secures $35 Million in Series B Funding to Transform Senior Living Operations Across the U.S. and Beyond
NEW YORK, Dec. 5, 2024 /PRNewswire/ — Sage, the leading operations management platform for senior living, has raised $35 million in Series B funding led by IVP, with participation from Friends & Family Capital and PLUS Capital. Existing investors Maveron, Goldcrest Capital, Distributed Ventures, and ANIMO Ventures also participated.
With hundreds of communities across 26 states already benefiting from Sage’s platform, this funding enables Sage to expand its reach across senior living. As the first cloud-based operations system in the senior living space, Sage allows communities to instantly access actionable data, helping them drive better resident care, optimize staffing, and deliver meaningful insights to improve efficiency and quality of life.
Purpose-built by people who have had experiences with senior living, Sage is uniquely aware of industry-wide challenges such as an 85% turnover rate for senior living caregiving positions. The Sage operating team’s deep ties to the industry ensures that the platform meets the unique needs of caregivers, operators, and families alike, yielding improved outcomes for residents and reducing staff turnover by an average of 20% in communities using Sage.
“At Sage, our goal is to be the operational backbone for all long-term care communities,” says Raj Mehra, Co-Founder and CEO at Sage. “Our platform helps caregivers respond faster—decreasing response times from an average of 20 minutes to under 8 minutes. Those minutes save lives: we helped operators triage 1.3 million care events this year alone. We also provide real-time insights into caregiver activity, which previously wasn’t possible. This operational visibility allows communities to improve staffing and reward exceptional caregivers. Ultimately, Sage helps senior living operators do good and do well, creating thriving environments where both residents and caregivers feel valued.”
This year alone, Sage has launched numerous features that elevate senior living operations, from intuitive caregiver tools enabling accurate, efficient care documentation to real-time insights that power smarter, more proactive operations. Sage is committed to being a trusted innovation partner that empowers senior living providers to meet evolving needs with confidence, equipping operators with the tools and insights needed to achieve success today and prepare for the future.
“Sage is tackling a big challenge as our population ages: easing the growing demands in the understaffed senior living industry. Caregivers and senior living operators rave about Sage because they’re bringing caregiving into the 21st century, with technology to speed up life-saving care, data to facilitate better operations, and a modern platform that caregivers enjoy using,” says Eric Liaw, General Partner at IVP. “We’re partnering with Sage because this team is making a meaningful difference in the lives of caregivers and residents – and they’re just getting started.”
The $35 million Series B brings Sage’s total capital raised to $59 million, building on the $15 million Series A secured last year. This latest round will support Sage’s team growth, allowing the company to extend its reach to more communities and develop advanced product features. Enhanced by recent breakthroughs in AI, Sage’s data insights will drive life-saving, efficient, and financially impactful improvements across senior living.
Most communities still rely on paper records, post-it notes, and walkie-talkies, which places an added burden on caregivers, especially at the end of long shifts. By automating the data entry process, Sage not only eases caregivers’ workload but also delivers valuable data to senior living community operators that they can use to deliver lifesaving and preventative care while making their communities run more efficiently. “When a community uses Sage, staff retention rises, profits increase, and the quality of care improves,” says Mehra.
Michelle, a caregiver at Waterford at Plymouth, captures Sage’s impact: “With Sage, I can help a resident, click a button, add a quick note, and be done. It’s quick and easy. Before, I’d have to write everything out, often staying late just to finish. Now, if a family member questions their loved one’s care, we can show every instance, like shower times. We can’t forget. This is a game changer, and I wish more communities could experience it.”
About Sage
Sage is reinventing care for older adults and the caregivers who serve them. The industry’s first operations management platform for senior living, Sage replaces outdated infrastructure with modern technology and AI-driven insights that save lives, improve caregiver experiences, and help operators run more efficiently. For more information, visit www.hellosage.com.
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SOURCE Sage
