Healthtech company K4Connect has raised $8.9 million in a new investment round to advance its technology and solutions for senior living providers. The company’s products enable senior living operators to integrate new and emerging technologies and leverage health and behavioral data to “optimize caregiver workflows, lower costs, and improve resident care.”
The new funding, which brings the total raised by K4Connect to $39 million, was co-led by Bryce Catalyst and AXA Venture Partners (AVP), and was supported by existing investors, Intel Capital, Forté Ventures, Topmark Partners, and the Ziegler-Linkage Fund.
“Since our founding, K4Connect has sought to put the power of the best in enterprise technologies into the hands of senior living operators,” said F Scott Moody, CEO of K4Connect. “Addressing this need has never been more important as the population of older adults continues to rise amidst an ongoing national caregiver shortage. We are thrilled to continue to deliver on that mission with the continued support of our existing investors, and welcome Bryce Catalyst’s Cary Burch to our board.”
The company’s technologies are used by tens of thousands of residents and staff in senior living communities across the US.
“K4Connect’s approach to the senior living market is rooted in its unique enterprise technology expertise long sought after by senior living operators,” said Cary Burch, CEO of Bryce Catalyst. “The company’s enterprise platform provides the foundation for senior living operators to undergo a digital modernization to improve the efficiency and cost effectiveness of caregiver services now and into the future. We’re excited to invest in helping to make that vision a reality.”
K4Connect’s technologies and vision have never been more important to the health and well-being of the world’s aging population,” said Manish Agarwal, General Partner at AVP. “If anything, the pandemic accelerated the need for senior living technology, and K4Connect is the only company we’ve seen that can bring all the current disparate applications together into a single enterprise system where data is no longer siloed and can be tapped for its full value in operations and care.”
K4Connect also announced the appointment of Mike Weller as Chief Operations Officer, bringing extensive experience in client success, data analytics, and operations.
“Mike’s experience in client success and in creating value in data-rich environments is a natural fit in the evolution of our company as we look to use data to drive operational insights and efficiencies for our customers, while improving the lives of the older adults who we ultimately serve,” said Moody.