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.
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.