Senior Living Tech Company Sage Secures $35m To Continue Grow Platform

Senior living tech company Sage has secured an additional $35 million in Series B funding, which it plans to use to “bridge planned and unplanned care,” according to CEO Raj Mehra.

Institutional Venture Partners (IVP) led the funding round, with participation from Friends & Family Capital and Plus Capital. Existing Sage investors Maveron, Goldcrest Capital, Distributed Ventures, and Animo Ventures also participated.

“By continuously monitoring daily resident needs, our system, validated by human input, can dynamically adapt care plans. This stands in stark contrast to the current standard, where plans may only be updated quarterly or semi-annually,” Mehra said. “Older adults don’t have static needs for six months; their acuity can shift within days. By providing timely interventions during these critical windows, we can prevent negative health outcomes.”

The $35 million will enable Sage to invest in its team and product lines in order to be able to continue to scale with more operators, he added. At present, Sage supports “hundreds” of senior living communities across 26 states.

“As part of this journey, we will be recommitting to our customers by investing in tools, resources and initiatives that ensure our development is guided by the needs and insights of our partners and the industry as a whole,” he said. “These steps position Sage to deliver adaptive, impactful technology while maintaining a customer-centric approach at every level.”

Sage said its platform has reduced turnover by an average of 20% in caregiving positions for communities that use it.

Sage has raised $59 million in capital, adding onto the $15 million in Series A funding it received in October 2023.

“​​The mission is only possible through true partnership with operators at every level. Sage is a technology platform, but at our core, we serve people,” Mehra said.

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