Resident insight and experience platform TSOLife scored $43 million in a Series B funding round led by PeakSpan Capital, bringing the company’s total funding to $52 million.
WHAT IT DOES
TSOLife’s AI platform, Minerva, simplifies data creation via embedded analytics, allowing senior living communities to collect and use data to aid in decision-making.
The Minerva platform transforms recorded audio interviews into complete digital resident profiles that provide comprehensive insights into each person.
The platform analyzes each resident’s digital profile to identify potential friendships within communities, enabling staff to introduce prospects and current residents to new friends and coordinate like-minded groups.
The Florida-based company will use the funds to expedite product development, enhance its AI capabilities, increase customer support and expand its mission of bringing data-driven and AI-powered operational improvements to senior living communities.
“We have proven our ability to strengthen the social drivers of health, connection, purpose and engagement, to meaningfully improve quality of life and extend residents’ length of stay by more than six weeks,” David Sawyer, founder and CEO of TSOLife, said in a statement.
“This funding round will accelerate our capabilities to embed personalized, resident-first support into the everyday interactions, processes and decisions that shape community life.”
MARKET SNAPSHOT
Other companies in the senior living space include SafelyYou, a maker of AI-enabled technology for fall detection and prevention.
In January, it closed a $43 million Series C funding round led by Touring Capital, bringing its total raise to more than $100 million.
Samsung Next, Omega Healthcare Investors, Foundation Capital, Founders Fund, Cross Creek, and Qualcomm Ventures participated in the round.
In 2021, months after closing its $19.5 Series A round, the company secured $30 million in Series B funding.
In 2021, UpsideHōM, a Fort Lauderdale, Florida-based startup, raised $2.25 million in an oversubscribed seed funding round.
The round was co-led by Triple Impact Capital and Freestyle Capital and had additional participation from Techstars.
UpsideHōM offers fully managed apartments for older adults with a host of amenities, including on-demand concierge services, one bill for utilities, grocery delivery, regular housekeeping, and virtual and in-person learning opportunities.
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