UpsideHōM, a Fort Lauderdale, Florida-based startup committed to revolutionizing the lives of seniors, has raised $ 2.25 million in an oversubscribed seed funding round.
The round was jointly chaired by Triple Impact Capital and Freestyle Capital and had additional participation from Techstars.
WHAT THEY DO
UpsideHōM offers fully managed older adult apartments that come with a variety of amenities, including on-demand concierge services, ancillary bill, grocery delivery, regular housekeeping, virtual and face-to-face learning opportunities, and more.
Seniors can also sign up for visits from Papa, a technology platform designed to coordinate elderly care at home.
The idea is that by combining resources not normally available in a residential complex with the communal aspects of a nursing home, seniors can “age nearby”, which is what more than three-quarters of older adults want.
UpsideHōM has senior living communities in South Florida; Tampa, Florida; Jacksonville, Florida; Atlanta; and Raleigh, North Carolina.
WHAT IT IS FOR
The funds will be used to further develop the company, particularly with the launch of UpsideHōM’s core technology platform later this year.
“The introduction of our customer-centric technology will take us one step further and enable us to connect with our members in a whole new way,” said Peter Badgley, co-founder and COO of UpsideHōM, in a statement.
“Our goal is to consistently offer our members a seamless and comfortable experience from day one when they inquire about our services, right through to the day of moving in and beyond. With the support of our investors, we have been given the opportunity to do just that and at the same time continue to work towards our mission of positively influencing and improving people’s lives – especially in old age. “
The platform will allow residents to manage their health care, pharmacy needs and transportation and serve as a roommate finder, chat room and guide to local experiences. On the internal side, the platform will allow the UpsideHōM team to manage all member and family engagement.
While UpsideHōM differs from other startups in this space by providing housing options for seniors, there are a number of digital health companies developing tools for the older adult population.
Assured Allies, which has a platform that helps connect seniors with health services, recently raised $ 18.3 million in a Series A funding round. Avanlee Care, an “all-in-one” startup for coordinating elderly care, launched its corresponding app earlier this month. Remote care company Connect America entered the elderly care space with its recent acquisition of Royal Philips’ Aging and Caregiving (ACG) business. UK senior care technology company Birdie received £ 8.2 million in funding in May.