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.

* CEO Raj Mehra said current tools in senior care "are notbuilt ​for how care actually works" leaving staff to manage theirentire shift with little more than pagers, paper ⁠logs, and awalkie-talkie * Sage installs room sensors and AI software that scan fordistress ​every few seconds and alert the right caregivers inreal 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 monitorsdaily patterns like ⁠sleep changes, bathroom frequency, andnighttime movement to flag residents at high risk of falling orhealth decline before anything untoward happens * ⁠On privacy, Mehra said only the specific triggered eventwould be reviewed by ​staff with the right permissions, and thatall data is deleted within 30 days * The latest funding, which brings total capital raised ‌sofar to $124 million, comes as the United States faces adeepening care shortage. By 2030, 72 ‌million Americans will beof retirement age, Sage said, citing ⁠S&P Global * Mehra said the ‌company covers upfront ​installation costsand charges a monthly software subscription fee

(Reporting by Kamal Choudhury in Bengaluru; Editing by Shailesh ‌Kuber)

---

Serious News for Serious Traders! Try StreetInsider.com Premium Free!

---

You May Also Be Interested In

• New report of attack on Strait of Hormuz shipping fans fears of threats to oil supplies
• Swedes vote in election that could usher far right into government
• Ukraine braces for harsh winter as Russian attacks hit economy