RALEIGH — K4Connect, which creates tech solutions for older adults and individuals living with disabilities, has raised an additional $7.7 million led by the Silicon Valley-based Forte Ventures. That officially closes its Series B round with $21 million in its coffers and brings total outside venture funding to date to $31 million.
As part of the investment by Forte Ventures, Louis Rajczi will join the K4Connect’s board of directors.
“We are thrilled to lead this round of funding to support all that K4Connect is doing to serve the older adult community and the senior living industry,” said Louis Rajczi, partner at Forte Ventures, in a statement. “This is a particularly exciting partnership for us as we are passionately behind K4Connect’s vision of improving the lives of the nation’s older adults through innovation. Forte Ventures focuses on opportunities where strategic investment will push industries forward, and K4Connect is clearly leading the innovation movement in the senior living segment.”
Founded in 2013, the Raleigh-based startup has become one of the fastest-growing companies in the Triangle. It currently serves tens of thousands of residents at over 800 continuing care, independent living communities across the nation.
The company tailors a variety of technologies to benefit the residents, staff, and resident families of senior living communities through its flagship solution, K4Community.
K4Community is built upon K4Connect’s patented operating system, FusionOS, an advanced multi-modal edge-cloud architecture and, according to the company, the only of its kind in the senior living industry.
It offers a comprehensive suite of solutions. Among them: allowing residents to stay connected through digital communications (e.g., voice, video, messaging); keeping them engaged (e.g., content, virtual engagement, voice-first experiences); and supporting independence through features such as home automation and Resident Check-in.
The K4Community Team Hub also features automated family/guest communications and Hotline for critical communications.
Ultimately, the goal is to enable communities to transform into “smart senior living communities,” the company said in its release.
“We are incredibly fortunate in our investor relationships in that they not only believe in our vision but equally value our mission. Forte Ventures is a prime example of that relationship and we’re proud to welcome them to the bench of our valued investors. With their support, and all of our investors, we’re continuing to accelerate to serve as many older adults through technology as possible,” said K4Connect CEO and Co-Founder, Scott Moody.
Additional investors taking part in the round include existing K4Connect investors Sierra Ventures, Intel Capital, AXA Venture Partners, the Ziegler Link•Age Fund, Revolution’s Rise of the Rest, Topmark Partners (formerly Stonehenge Growth Equity Partners) and Traverse.
Original Article Source: WRAL TechWire