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)