AI-powered healthcare startup SafelyYou closed a $ 19.5 million Series A round of funding to revolutionize dementia care.
Eclipse Ventures led the cycle, which also included Founders Fund, Swift Ventures, Pacific Health Ventures, Anorak Ventures and 7Percent Ventures, TSQ Advisors, Pathbreaker Ventures and The House Fund. Existing investors DCVC and Foundation Capital also participated in this round. Justin Butler, partner at Eclipse Ventures, said of the company’s involvement:
“Alzheimer’s disease and dementia affect millions of patients and their families around the world, a number that is growing rapidly as our society ages. SafelyYou is building an essential part of the ecosystem needed to care for those affected by these devastating diseases.
Launched in 2015, SafelyYou harvests the latest advances in artificial intelligence technology to improve the detection and prevention of dementia, thereby improving the quality of life of those who suffer from it. The startup is looking to use a combination of artificial intelligence technology and human expertise to empower caregivers to implement essential fall prevention.
Using AI-powered cameras in the rooms of consenting residents to detect falls with unprecedented precision, the solution developed by SafelyYou allows caregivers to be immediately notified if a patient with dementia needs treatment. ‘aid. According to research results published in the American Journal of Managed Care, SafelyYou’s AI technology reduced falls by 40% and emergency room visits resulting from falls by 80%.
To date, the AI-powered healthcare startup is the first-ever falls prevention program a liability insurer has invested in, which is the result of its offering of safer environments across states. -United for organizations of a team of experts who study more than 20,000 observed falls.
SafelyYou plans to use the proceeds of the latest financing to fuel the growth of its assisted living and skilled nursing business in North America. This will allow the AI-powered healthcare startup to maintain its growth rate, having seen its revenue and workforce more than double in the first half of this year.