K4Connect Growth Leads to New Strategic Investors, Accelerates 2022 Market Expansion

As the need for older adult technology resources grows, senior living innovator itself innovates to meet demands

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Feb 14, 2022, 08:05 ET

RALEIGH, N.C, Feb. 14, 2022 /PRNewswire/ -- K4Connect, a mission-driven healthtech company integrating the best in technology to serve older adults and individuals living with disabilities, is leveraging its growth since 2020 to empower more senior living operators, staff and residents with technology and data. As senior living's appetite for innovation increases, meeting that need with solutions that provide actionable behavioral, operational and health insights is critical.

The pandemic revealed an undeniable need for dependable and scalable resources that can support the older adult population with easy access to important information, socialization tooling, communications and safety. Technology quickly rose in importance for senior living operators with over 80% of long term care executives increasing investment in innovations that would assist residents – and community staff – with navigating through the challenges of quarantine, visitation restrictions and more. In early March of 2020, K4Connect pivoted its product roadmap and company structure to quickly respond to these immediate customer needs. Expanding the features of its K4Community solution for residents and staff, issuing contactless and remote deployments to ease community onboarding and improving its award-winning automated Resident Check-In safety feature, resulted in the company nearly tripling its member base while doubling its revenue over the last two years.

"The pandemic pulled much of the world to a screeching halt. For us, it served as an opportunity to deliver on our mission of using technology to better serve older adults," said K4Connect CEO and Co-Founder, Scott Moody. "We prioritized product releases and integrations that solved critical issues for communities, all while lowering costs for our community partners. While the last two years were not without their many challenges, we're proud of our small part in helping those most often underserved by technology. Now, the opportunity lies within enabling these communities to not only maintain but advance their technology strategies many started during the pandemic."

With the rapid adoption of essential, yet disparate, technologies over the last two years, senior living operators must have the operational infrastructure to extend the value of these solutions beyond the pandemic need. K4Connect's FusionOS integration platform transforms these point solutions into a single, cohesive technology system – all while collecting and delivering data-driven insights for operators. With over 40 patents, FusionOS, on which K4Community is built, acts as an operating system for the community, providing a flexible architecture that allows customers to integrate systems and tools needed today, while seamlessly expanding implementations as community and resident needs evolve over time.

To support its mission, K4Connect has raised an additional $12 million in venture funding ($35 million in total) from existing and new investors since the start of the pandemic. The new investors include Forte Ventures, Second Century Ventures (National Association of REALTORS®), and senior living industry leaders, CoastWood Senior Housing Partners President, Daniel Decker, BPOC Founder and Omega Healthcare Investors Co-Founder, William Petty, and RSF Partner and National Investment Center for Seniors Housing & Care Chairman, Kurt Read.

"As operators along the entire senior living continuum look to advance hospitality and care, the need for data to inform resident and staffing solutions is absolutely critical," said Kurt Read, Principal - RSF Partners and current Chairman of the Board of the National Investment Center for Seniors Housing and Care. "K4Connect delivers on this promise of data value for operators with an enterprise platform that not only connects and aggregates data, but also delivers actionable insights that inform better care and experiences."

K4Connect is a leading provider of enterprise technologies designed for senior living community residents and staff teams. As the company looks to expand in 2022, it will initiate its first pilots to broaden its K4Community solution for congregate senior living to support home care recipients, and their caregivers, who wish to age in place. For more information about the company and K4Community, visit www.K4Connect.com.

About K4Connect:

K4Connect is a mission-driven healthtech company that integrates the best in technologies and services to serve and empower older adults and individuals living with disabilities. We believe meaningful technologies have the power to make the lives of older adults simpler, healthier and happier. Our leading solution for senior living, K4Community, is an ecosystem of smart products and features that help residents live more independently, while streamlining staff workflows and driving operational efficiencies for operators. The entire K4Community experience is powered by our patented FusionOS operating system, enabling all of our community partners to finally unlock the value of enterprise data.

Based in Raleigh, N.C., K4Connect is currently serving thousands of senior living residents and staff at continuing care, independent living and assisted living communities across the nation. For more information, please visit www.K4Connect.com.

Contact:
Natalie Jones
Director of Marketing and Communications at K4Connect
[email protected]
(209) 642-2074

SOURCE K4Connect