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UpsideHōM, a Fort Lauderdale, Florida-based startup looking to disrupt senior living, 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. WHAT THEY DO UpsideHōM offers fully managed apartments for older adults that come with a host of amenities, including on-demand concierge services, one bill for utilities, grocery delivery, regular housekeeping, virtual and in-person learning opportunities, and more. Seniors can also sign up for visits powered by Papa, a technology platform to coordinate in-home senior companionship. The idea is that by combining resources not typically available in an apartment complex with the communal aspects of a nursing home, seniors will be able to “age in proximity,” something that more than three-quarters of older adults wish to do. UpsideHōM has senior living communities in South Florida; Tampa, Florida; Jacksonville, Florida; Atlanta; and Raleigh, North Carolina. WHAT IT’S FOR The funds will go toward continuing company progression, specifically with the launch of UpsideHōM’s core technology platform later this year. “The launch of our customer-facing technology will take us one step further in our development and allow us to truly engage with our members in a brand new way,” Peter Badgley, UpsideHōM cofounder and COO, said in a statement. “Our goal is to consistently offer a seamless and comfortable experience for our members, from day one when they inquire about our services to move-in day and beyond. With the support of our investors, we have been given the opportunity to do just that while continuing to work toward our mission to positively impact and better people’s lives – particularly as they age.” The platform will enable residents to manage their healthcare, pharmacy needs and transportation as well as serve as a roommate finder, chat room and guide to local experiences. On the internal side, the platform will allow UpsideHōM’s team to manage all member and family engagement. MARKET SNAPSHOT While UpsideHōM differs from other startups in the space by offering senior living opportunities, there are a number of digital health companies creating tools for the older adult population. Assured Allies, which has a platform that helps link seniors to health services, recently scored $18.3 million in a Series A funding round. Avanlee Care, an “all-in-one” elderly care coordination startup, launched its corresponding app earlier this month. Remote care company Connect America moved into the senior care space with its recent acquisition of Royal Philips' Aging and Caregiving (ACG) business. In May, UK-based elderly caretech company Birdie landed £8.2 million in funding.

UK-based elderly caretech company Birdie has announced that is has raised £8.2 million led by international venture capital firm Index Ventures and with participation from Kamet Ventures. The investment will be used to expand the business and invest in product innovation. WHY IT MATTERS The pandemic has brought on a social care crisis across the globe. The number of people over 65 will double by 2050, and while people are living longer, they are falling sick at the same age. This increases pressure on an already strained care system, in which 25% of the UK’s home care providers are on the brink of bankruptcy and local authorities in England will face a £4.4 billion funding gap by 2023. Birdie is addressing this crisis by reinventing care for older people, partnering with care providers to support the ageing population in living healthily at home for longer. Birdie’s intuitive app provides a system for care providers to deliver more coordinated, personalised and preventative care. By using a SaaS-based platform like Birdie, the care community can utilise the technology to plan and assess care as well as support its delivery. Consequently, caregivers decrease time spent on non-critical work like admin, freeing them up to spend more time face-to-face with their care recipients. It also saves costs and allows carers to more easily communicate and share information with an older person’s other care providers, health practitioners, and their families. THE LARGER CONTEXT Last month, Apple Fitness + launched new programmes for pregnant people and seniors. Each of the new workout programmes features classes that average about 10 minutes in total and focus on the specific health needs of that group. ON THE RECORD Max Parmentier, Birdie CEO and co-founder, said: “Right now, the $1tn elderly care market is woefully underserved, even though it’s growing 8% per year. The care system is at breaking point and many older people aren’t getting the care they deserve. “We believe the future of care for older people should be helping them to live at home for as long as possible through the delivery of personalised and preventative care. Birdie is already the partner of choice for caregivers up and down the UK, and this funding will help us rapidly increase the number we partner with and what we can offer them - meaning more people benefiting from more affordable, quality care. We’re proud of our mission and the values we embody to pursue it.” James Deeley, chief executive of Alina Homecare, said: “Birdie has delivered from day one as a strong technology partner for our Group. Our values and aspirations are closely aligned and Birdie is transforming the way we deliver and monitor our care, with more than 30,000 visits channelled every month through their platform.”