Sage raises $65 million to expand AI-assisted care for ageing Americans in nursing homes

Sage raises $65 million to expand AI-assisted care for ageing Americans

March 5 (Reuters) - Sage, a New York-based senior care technology firm, said on Thursday it has raised $65 million in new funding to expand its artificial intelligence platform designed to help caregivers in nursing homes and assisted living facilities. The Series C round was led by Goldman Sachs Alternatives, with participation from existing investors IVP and Goldcrest. Reporting by Kamal Choudhury in Bengaluru; Editing by Shailesh Kuber Our Standards: The Thomson Reuters Trust Principles., opens new tab

Sage raises $65 million to expand AI-assisted care for ageing Americans

Sage, a senior care technology firm, secured $65 million in new funding. This capital will fuel the expansion of its artificial intelligence platform. The technology aims to assist caregivers in nursing homes and assisted living facilities. Sage's AI scans for distress and alerts staff in real time. Sage, a New York-based senior care technology firm, said on Thursday it has raised $65 million in new funding to expand its artificial intelligence platform designed to help caregivers in nursing homes and assisted living facilities. The Series C round was led by Goldman ⁠Sachs ⁠Alternatives, with participation from existing investors IVP and Goldcrest. CEO Raj Mehra said current tools in senior care "are not built for how care actually works" leaving staff to manage their entire shift with little more than pagers, paper logs, and a walkie-talkie Sage installs room sensors and AI ⁠software that scan for distress every few seconds and alert the right caregivers in real time, cutting response ⁠times to around three minutes, compared to up to 45 minutes without the technology The company plans to build predictive AI that monitors daily patterns like sleep changes, bathroom frequency, and nighttime movement to flag residents at high risk of falling or health decline before anything untoward happens On privacy, Mehra said only the specific triggered event would be reviewed by staff with the right permissions, and that all data is deleted ⁠within 30 days The latest funding, which brings total capital raised so far to $124 million, comes as the United States faces a deepening care shortage. By 2030, 72 million Americans will be of retirement age, Sage said, citing S&P Global Mehra said the company covers upfront installation costs and charges a monthly software subscription fee.