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K4Connect Raises Additional Capital to Close Series B Funding of $21M; Brings Forte Ventures on as New Investor

K4Connect Raises Additional Capital to Close Series B Funding of $21M; Brings Forte Ventures on as New Investor

Mission-aligned company and investors move to make big impact with technology in senior living

PR Newswire

RALEIGH, N.C., July 8, 2020 /PRNewswire/ -- K4Connect, a mission-driven technology company that integrates the best in technology to serve and empower older adults and those living with disabilities, today announced a financing raise of $7.7 million led by Forte Ventures. This financing officially closes K4Connect's Series B round at $21 million, bringing the company's total outside venture funding to-date to $31 million. K4Connect is the leading provider of enterprise connected-life technologies for senior living communities, currently serving thousands of residents at over 800 premier continuing care, independent living and assisted living communities across the nation. This financing round will further accelerate the development and deployment of solutions that support today's most vulnerable population during COVID-19 and beyond - older adults.

The challenges brought on by COVID-19 have had far-reaching implications for senior living, but have magnified opportunities where technology can have an immediate and long-lasting impact on the daily lives of residents and working environments for community staff. K4Connect brings cutting-edge enterprise technologies to this industry, which innovation has long ignored. The company tailors a variety of technologies to benefit the residents, staff, and resident families of senior living communities through its flagship solution, K4Community.

"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. "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."

K4Community is built upon K4Connect's patented operating system, FusionOS, an advanced multi-modal edge-cloud architecture and the only of its kind in the senior living industry. A comprehensive suite of solutions integrating the best in technology, K4Community enhances daily life for residents, augments the workday for staff, and enables community operators to operate more efficient and data-driven businesses. Residents stay connected to each other and their families through digital communications (e.g., voice, video, messaging), informed on the latest community news (e.g., COVID-19 updates, visitation policies, daily menus), engaged and stimulated during quarantine (e.g., content, virtual engagement, voice-first experiences) and more independent through features such as home automation and Resident Check-in. Community staff benefit from creation, productivity, and awareness tools via the K4Community Team Hub, and key features including automated family/guest communications and Hotline for critical communications. Ultimately, the goal is to enable communities to rapidly transform into Smart Senior Living Communities, creating a more connected living and working environment driven by a foundation of technology.

"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. As part of the investment by Forte Ventures, Louis Rajczi will join the K4Connect Board of Directors. K4Connect was founded in 2013 and is headquartered in Raleigh, N.C. To learn more about K4Connect and its current and future technologies, please visit www.K4Connect.com.

About Forte Ventures:

Forte Ventures is a multi-stage venture capital firm that collaborates and co-invests with corporate strategic partners in technology companies across diversified industry sectors throughout North America. Focus areas include Information Technology, Insurance Tech, Financial Tech, Mobility, On-Demand Tech/Services, Cybersecurity, IoT and Industrial Tech. Initial investments generally range between $1-3 million and typically include participation from leading corporate strategic partners as co-investors. Forte Ventures has offices in Atlanta and Silicon Valley. For more information please visit www.forteventures.com.

About K4Connect:

K4Connect is a mission-driven technology company that integrates the best in technology to serve and empower older adults and individuals living with disabilities, together with the people, communities and organizations that also serve them. We believe the future of senior living is in enabling Smart Senior Living Communities through tech-based solutions that truly impact the lives of older adults, wherever they live. Our premier solution, K4Community, provides smart products and features across Home, Wellness, and Engagement for residents, and Productivity, Building, and Insight for staff and operators.

Based in Raleigh, N.C., K4Connect is currently serving tens of thousands of senior living residents and staff at over 800 continuing care, independent living, assisted living and memory care communities across the nation. For more information, please visit www.K4Connect.com.

MEDIA CONTACT

Natalie Jones

Director of Marketing and Communications at K4Connect

natalie.jones@k4connect.com

(209) 642-2074

 

Cision View original content to download multimedia:http://www.prnewswire.com/news-releases/k4connect-raises-additional-capital-to-close-series-b-funding-of-21m-brings-forte-ventures-on-as-new-investor-301090100.html

SOURCE K4Connect



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