Insurtech SafelyYou has raised $43 mn in a Series C funding round led by Touring Capital, bringing its total funding to over $100 mn.
Previous funding rounds include a $19.5 mn Series A in September 2021, led by Eclipse Ventures, and a $30 mn Series B in December 2021, led by Omega Healthcare Investors.
Other notable investors are SCAN Group, Founders Fund, DCVC, Foundation Capital, Cross Creek, Samsung Next, and Qualcomm Ventures.
The company plans to use the capital to expand its technology solutions to address challenges in senior care, including rising resident acuity, staffing shortages, and care accuracy.
SafelyYou has introduced two new products: Clarity, an automated care tracking system, and Aware, which uses data analysis to predict residents’ care needs.
Its clients include senior living providers such as StoryPoint Senior Living, Benchmark Senior Living, Midwest Health, and Senior Star.
SafelyYou, founded in 2015 by CEO George Netscher, emerged from his doctoral research at UC Berkeley’s Artificial Intelligence Research Lab. The company specializes in AI-driven solutions to enhance senior care, particularly in fall detection and prevention for individuals with dementia.
Founder and CEO George Netscher said the funding comes at a critical time for senior care, as demand increases and staffing shortages persist. He stated that the company aims to help operators predict care needs with greater speed and accuracy.
We’re so grateful for this funding at a critical juncture in care delivery for senior living, when SafelyYou’s solutions are more important than ever. I started this company to help my mom and to help so many families like ours who have a loved one living with dementia. And we’ve grown to provide broader care support in senior living.
George Netscher, CEO SafelyYou
“Now, at a time when resident acuity is increasing, care demands are greater, and staffing continues to be a crisis, we’ll be able to empower operators to predict care needs with unmatched speed and accuracy, revolutionising how senior care is provided,” George Netscher said.
SafelyYou founder and CEO George Netscher built the company for his mom. After watching his grandmother and aunt live with Alzheimer’s, he knew his mother was likely to develop the disease, and he committed to developing better care solutions for her. He deeply believed technology was the answer.
So, George pursued his graduate studies at UC Berkeley, whose Artificial Intelligence Lab is the top AI research group in the US. SafelyYou was created out of work he began there, and today has supported over 18,000 residents across more than 450 senior living communities.
Proven to reduce falls, risk, and costs while elevating care, SafelyYou is one of five most innovative fall technologies referenced in the Senate Falls Report (2019), a winner of the McKnight’s Tech Partner of the Year award, and has been named to Fortune’s Impact 20 list.
The company offers products like SafelyYou Respond™, an AI-enabled fall detection system, SafelyYou Clarity™, an automated care tracking system, and SafelyYou Aware™, which uses data insights to predict residents’ care needs. These solutions aim to reduce falls, enhance care accuracy, and address staffing challenges in senior living communities.
