News Summary
TSOLife, a tech company focused on improving senior living, has raised $43 million in Series B funding led by PeakSpan Capital. This brings total funding to $52 million since 2022. Their AI-driven platform, Minerva, helps create personalized profiles for seniors, improving engagement and well-being. The investment will accelerate product development and support relationships with senior living operators, benefiting over 125,000 residents so far.
Tampa, Florida – TSOLife, a technology company dedicated to enhancing the senior living experience, has successfully secured $43 million in a Series B funding round spearheaded by PeakSpan Capital. This significant investment brings the company’s total funding to $52 million since its inception in 2022.
TSOLife’s platform, named Minerva, employs advanced artificial intelligence to process data derived from resident interviews, ultimately aimed at transforming the senior living industry from a need-based model to one that appeals to prospective residents. The company’s innovative approach focuses on improving the quality of life for seniors by creating digital profiles that encompass their personal histories, preferences, and favorite activities, thereby replacing traditional paper profiles.
The Minerva platform plays a vital role in streamlining the management of senior living homes. It assists in creating activity calendars tailored to residents’ interests, analyzes satisfaction surveys for continual improvement, and facilitates social connections by suggesting friend matches among residents. Through the power of real-time data insights, TSOLife aims to elevate resident engagement and overall well-being.
The funds from the Series B round are expected to bolster TSOLife’s business expansion, expedite product development, enhance artificial intelligence capabilities, and improve customer support services. These enhancements are crucial as the company seeks to deepen its partnerships with major senior living operators, providing personalized support across their operations.
TSOLife’s inception was influenced by the CEO’s personal experiences after losing his grandmother, prompting him to interview seniors to preserve their life stories. This led to the development of technology designed to improve living conditions for seniors, aligning closely with the goals of the platform.
To date, the Minerva platform has been adopted by several prominent senior living operators, including Brookdale Senior Living, Priority Life Care, Benchmark Senior Living, Commonwealth Senior Living, and Sagora Senior Living. Within a span of three years, TSOLife has gathered data from over 125,000 residents, focusing primarily on social connections and quality-of-life metrics. The data-driven insights reveal over 300 profile indicators per resident, significantly enhancing daily operational management and enriching resident interactions.
As TSOLife prepares for the future, it intends to release new tools targeting staff retention within the third quarter of the year. The goal is to assist senior living communities in seamlessly integrating technology into everyday workflows, fostering stronger connections between residents and staff.
Justin Kelly of PeakSpan Capital has expressed strong confidence in TSOLife’s potential to streamline operations and enhance revenue metrics for senior living facilities through improved insight generated by data. This investment is not only aimed at providing operational support but is a strategic move towards redefining how senior living environments cultivate a sense of community and engagement.
In summary, TSOLife’s recent funding will play a pivotal role in the ongoing evolution of senior living experiences, emphasizing a shift towards more personalized and data-driven approaches that prioritize the desires and needs of residents.
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Additional Resources
- St. Pete Catalyst
- McKnight’s Senior Living
- Business Wire
- Axios
- Finsmes
- Wikipedia: Senior Living
- Google Search: Senior Living Technology
- Google Scholar: Senior Living AI
- Encyclopedia Britannica: Artificial Intelligence in Senior Care
- Google News: TSOLife Funding
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