Sage’s $35M Series B: A Leap Forward in Empowering Caregivers and Elevating Senior Care

Natalie Dillon and Jason Stoffer

As a growing share of Americans age, all while the caregiver workforce to support this population declines, we see this gap as both a challenge and opportunity. Enter Sage — a highly customer centric, product obsessed team, building caregivers modern tooling to support older adults. Last year, we partnered with Sage to lead their Series A. Now, we’re thrilled to welcome Eric Liaw and the IVP team to accelerate Sage’s mission to reinvent care for older adults with a modern operating system for caregivers.

We were first introduced to Sage by our friend Adam Ross, former board member of Palantir, who knew Raj Mehra (Sage’s CEO) and Matt Lynch (Sage’s CTO) through their Palantir days. Raj is a relentless and deeply empathetic founder who could translate customer needs into actionable solutions. His co-founders Ellen Johnson and Matt Lynch are world class product and technology leaders that have helped build a highly effective and beloved product by customers.

We have been excited about the senior living space for awhile, but hadn’t found a product where there was an established go to market motion, and alignment across all stakeholders — individual, family, caregiver, owner, and insurance. Our conviction grew when our partner, Natalie Dillon, flew out to Indianapolis to spend time at several client sites, alongside the Sage team. We heard from caregivers who applauded the ease of use of the product, facility managers who had clear visibility of their operations, and senior home owners who could tie improved income to Sage. We saw the results, residents were responded to in under 8 minutes on average, versus response times that can be upwards of 40 minutes with legacy systems.

Sage combines best in class software, data analytics, and hardware to dynamically monitor and coordinate care performed in a senior living facility. Sage upgrades a facility from a rudimentary nurse call system, such as pagers, walkie talkies, or wall mounted pull cords, to a unified care system. Residents can just as simply call for help by the touch of a button, but with Sage their call for help is triaged to an available caregiver instantly. Caregivers can easily log the work they perform, and use Sage to see all upcoming assigned tasks. Sage also includes relevant information of a resident on the app from DNR status to care administered that day of an individual, data that was previously less accessible.

By being the point of record on the care that is performed, Sage is able to provide actionable insights on schedule optimization and performance management of caregivers, resulting in lower caregiver churn. For residents and families, Sage will flag and predict when residents require more help, resulting in higher quality care.

Sage has become integral to senior care facilities, enabling faster incident response, better caregiver recognition, and improved facility economics. Today, Sage announced a $35 million Series B financing, led by IVP, with participation from Friends & Family Capital, and Plus Capital. We are excited to partner with these new investors to enable Sage to expand its impact.

Building a defensible, category winner

As we look forward, we believe Sage has the ability to build a business with a highly defensible moat, consisting of four parts:

1. A Team that puts customers first. Sage takes a page from Palantir’s playbook. The entire team spends hundreds of hours in the field with clients understanding their needs.
2. A product focus on caregivers. Caregivers need an easy to use product that controls their daily workflow, leading to significantly lower churn in an industry which has workforce supply challenges.
3. Exceptional Product-Market Fit: Sage offers an operating system that caregivers love. On-site visits confirmed what metrics had shown: 92% daily engagement among caregivers and dramatically improved response times. Moreover, the facility ROI is so strong that Sage has never lost a senior living home customer.
4. The Power of Data: Sage is building the largest dataset on caregiving ever created. These insights enable facilities to predict falls, optimize workflows for staff, and improve outcomes for residents. This data advantage is not just a competitive moat — it’s a game-changer for the industry.

At Maveron, we invest in consumer-centric companies that change lives. Sage’s journey exemplifies this mission. We believe the company is just scratching the surface of its potential to become the category leader in senior care, a market ripe for disruption and big enough to support a public company.

Congratulations to Raj, Matt, Ellen, and the entire Sage team on this incredible milestone. It’s an honor to support your mission to bring dignity, efficiency, and innovation to senior care.