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Sensi.AI secures US$31 million in Series B funding to enhance elderly care


Sensi.AI secures US$31 million in Series B funding to enhance elderly care

Sensi.AI, a company pioneering audio-based technology for elderly care, has announced a significant milestone in its growth journey. The company revealed that it had successfully raised US$31 million in Series B funding. This round of funding, which comprises mostly equity with a minor portion of secondary deals, has substantially boosted the company’s valuation and brings its total fundraising to over $53 million. The funding round was co-led by Zeev Ventures and Insight Partners, with existing investors Entrée Capital, Flint Capital, Jibe Ventures, and Secret Chord Ventures also participating.


Sensi.AI’s innovative technology allows elderly individuals to continue living at home instead of moving to a hospital or nursing facility. This solution addresses the escalating elder care crisis, which is characterized by a severe shortage of caregivers and rising costs of care. The company's impressive threefold year-over-year growth is a testament to the effectiveness and necessity of its technology.


A study by the American Association of Retired Persons (AARP) found that nearly 90% of people over the age of 65 prefer to stay in their homes as they age. This preference creates substantial demand for home care services, which typically provide assistance to the elderly during the day and sometimes only for a few hours per week. Sensi.AI’s technology aims to support these home care agencies by enabling them to monitor the well-being of elderly clients around the clock.


Romi Gubes founded Sensi.AI in 2019 after discovering abuse at her five-year-old daughter’s childcare facility. Motivated to prevent similar incidents for other vulnerable populations, Gubes, an engineer by training, developed an idea to use audio AI to monitor and analyze situations for those who cannot advocate for themselves. She chose audio over video to respect privacy, as cameras can feel intrusive in private spaces, according to TechCrunch.


Sensi.AI's technology places simple audio pods, similar to Amazon’s Alexa, in key areas of the home such as the bedroom, bathroom, and living room. These pods continuously collect audio data, which is then analyzed by the company’s AI to detect any deviations from the norm. This system can identify over 100 insights about the senior’s well-being, ranging from emergency situations like falls to less urgent health issues like urinary tract infections and changes in activity levels.


Sensi.AI’s clinical care team, which includes social workers, occupational therapists, nurses, and geriatric clinicians, continuously develops new data points to enhance the system’s capabilities. According to Gubes, Sensi’s technology is already in high demand, with over 80% of the largest home care networks in the United States using it to monitor their clients' physical, emotional, and cognitive health.


The company's revenue has grown threefold annually for the past three years, a trend that Gubes expects to continue. This rapid growth has attracted significant investor interest, culminating in the recent $31 million Series B funding round. With this new influx of capital, Sensi.AI plans to expand its services to other countries, leveraging advancements in generative AI to support new language models and broaden its reach.


As Sensi.AI continues to innovate and expand, it is poised to play a crucial role in addressing the global elder care crisis, enabling more seniors to age comfortably and safely in their own homes.


Source: TechCrunch, Sensi.AI

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