Total amount raised
$59 Millions
Latest funding date
12/1/2024
Location
Sage has successfully raised $50 million over two funding rounds, with $15 million from Series A and $35 million from Series B. The company is backed by notable investors including ANIMO Ventures, IVP, and Goldcrest Capital.
Keep reading to explore the intricacies of Sage's fundraising journey and the investors backing this innovative platform.
What Is Sage?
Sage, founded in 2020, is headquartered in New York, New York. The company was established by Ellen Johnston, Matthew Lynch, and Raj Mehra.
Sage offers a next-generation operation management system designed for senior living communities. Their platform enhances caregiver efficiency and resident care outcomes through data collection, analysis, and streamlined communication.
With a team of 11-50 employees, Sage is dedicated to transforming senior living communities by making caregiving smarter and more efficient.
How Much Funding Has Sage Raised?
- Seed Round
- Amount Raised: $9M
- Date: July 2022
- Lead Investors: Goldcrest Capital
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To develop the initial version of their platform and validate the market need for a senior living operations management system.
- Series A
- Amount Raised: $15M
- Date: October 2023
- Lead Investors: Maveron
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To expand the team and scale the platform to more senior living communities.
- Series B
- Amount Raised: $35M
- Date: December 2024
- Lead Investors: IVP
- Valuation at Round: Not publicly disclosed
- Motivation Behind the Round: To support team growth, extend the company's reach to more communities, and develop advanced product features.
Total Amount Raised: $59M. Current Valuation: Not publicly disclosed.
Key Investors
- IVP (Institutional Venture Partners)
- Details: IVP is a premier later-stage venture capital and growth equity firm. They have a strong track record of investing in high-growth technology and media companies.
- Investment Focus Areas: Technology, media, internet companies.
- Notable Investments: Twitter, Slack, Dropbox, Snap.
- Maveron
- Details: Maveron is a consumer-only venture capital firm. They focus on early-stage companies that are consumer-centric.
- Investment Focus Areas: Consumer brands, services.
- Notable Investments: eBay, Zulily, Allbirds.
- Goldcrest Capital
- Details: Goldcrest Capital is a venture capital firm that invests in early-stage technology companies. They aim to support technology-driven companies with high growth potential.
- Investment Focus Areas: Technology, innovation.
- Notable Investments: SpaceX, Lyft, Palantir.
- Friends & Family Capital
- Details: Friends & Family Capital is a venture capital firm that typically involves close networks of investors. They often invest in early-stage companies based on personal connections and trust.
- Investment Focus Areas: Various sectors, early-stage companies.
- Notable Investments: Information not provided.
- PLUS Capital
- Details: PLUS Capital partners with influential individuals and organizations to invest in high-growth companies. They leverage the influence of their partners to drive growth.
- Investment Focus Areas: Technology, consumer products, media.
- Notable Investments: Information not provided.
What's Next for Sage?
With the recent $35 million Series B funding, Sage is poised to expand its platform to more senior living communities, leveraging AI to enhance care and operational efficiency. The aging population in the U.S. presents a significant opportunity, with projections indicating 78 million adults over 65 by 2040. This demographic shift underscores the growing need for advanced senior care solutions, positioning Sage for substantial growth.
Future fundraising opportunities seem promising, given the successful Series B round and the increasing investor interest in agetech. However, Sage will need to navigate challenges such as high caregiver turnover and competition from other technology providers. Ensuring scalability and maintaining the trust of operators and caregivers will be crucial as they continue to innovate and expand their reach.
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