The San Francisco Bay Area – Is That Where You Can Find the Most Disruptive Age Tech Companies?
True to its image, the San Francisco Bay Area is home to several Age Tech startups looking to disrupt the aging industry. Some of these companies could potentially save the United States $300 Billion in medical costs, some are focused on memory care, and some are disrupting mobility. Read on to learn more.
Transportation and Mobility
Uber and Lyft have truly disrupted urban transportation, and allowed more people to get around quickly and easily. Some older adults, however, still don’t own a smartphone, and even if they do, they don’t necessarily feel comfortable using an app that requires a credit card. Here are some Bay Area startups tackling this issue from different angles.
Go Go Grandparent
Founded in 2016, GoGoGrandparent is considered a veteran in ride sharing for older adults, and is available throughout the United States and Canada. This was the first company that enabled older adults to use ride-sharing services without using an app. GoGoGrandparent allows people to call an operator which will book an Uber or Lyft for them.
Onward
Onward could potentially solve not only mobility for the aging population, but also, post retirement employment. The service helps seniors get reliable, safe, door-to-door rides.
Unlike regular “curb to curb” ride-sharing services, Onward’s drivers get out of the car to pick up their passengers from where they are, escort them into the car, and upon arrival to the destination, they’ll walk with them to wherever they need to be, sometimes waiting until they finish running errands or meeting with their physician.
They emerged from stealth last month, with the announcement on raising $1.5M seed funding. The company is led by serial entrepreneurs Mike P. Lewis and Nader Akhnoukh who had also co-founded (and sold) Kapost.
I spoke to Mike, Onward’s CEO, and he mentioned that most of their drivers are retirees. Many retirees don’t want or can’t afford to stop working altogether, a recent study found that only a fraction of 50-62 employees hold steady jobs with benefits. Being Onward drivers allows them to create their own work schedule and know in advance how many hours they’re going to work (and how much money they’re going to make). Since the riders are booked in advance, the drivers can see their schedule weeks ahead and not be dependent on “on demand” rides that may or may not come.
Seismic
Seismic, a.k.a. SuperFlex, has been recognized as a 2018 Global Technology Pioneer by the World Economic Forum.
Offering a unique approach to solving mobility issues in the aging population, their Powered Clothing™ includes discreet robotics that enable the wearer to overcome limitations and achieve their full physical potential. Simple tasks, like getting dressed in the morning, can be tailored to the user’s body and your lifestyle.
Tech Enabled Home Care
Honor
With $115M in funding, raised from top tier funds like Andreesen Horowitz, Honor is probably the most funded company in the Age Tech ecosystem. Led by former Meebo (acquired by Google) co-founders Seth Sternberg & Sandy Jen, Honor utilizes data from it’s network of independently owned and operated agencies, to tackle issues that make it hard for agencies to turn a profit and provide the best possible care for care recipients. Caregiver turnover, which has reached an all-time high of 82% in 2018, recruiting, training, matchmaking, are some of the things Honor is aiming to improve using a data-driven approach.
Carelinx
Acquired in 2017 by Generali Global Assistance, CareLinx is a nationwide professional caregiver marketplace, enabling families to find, hire, manage and pay caregivers who match their specific needs and budget online. The CareLinx app also allows the family caregiver to order Lyft rides for their loved ones, allow specific people to also order rides, and sends them updates along the way.
Smart Home
Leeo
This 2019 CES Innovation awards honoree has raised ~$40M. Leeo’s line of products includes an array of smart home sensors that alert the user when something goes wrong. The Leeo Ping service allows users to create a trusted circle of family and friends, with whom they can share presence, activity, health, environment or frequent places, etc’. If something seems wrong the app will alert friends, family or professional caregivers.
Health
What costs the United States an estimated $300 Billion and is completely preventable? The answer is: Medication nonadherence.
Mango Health
Mango Health developed an app that helps users manage their medication and create healthy habits. It also provides the users information about the medications they’re taking, including drug interactions and side effects.
Toi Labs
Toi Labs is on a mission is to open a new frontier of science through innovative bathroom technology. They’ve created the TrueLoo – a smart toilet seat that provides health insights based on data collected from human waste. They also won the 2019 Silicon Valley Boomer Venture Summit Business Plan Competition, and several other awards. Their product is currently being tested in senior living communities.
Vynca
Vynca addresses critical unmet needs in end-of-life care by aligning two important factors: individual preference with individual care. They help individuals, their caregivers, and clinicians navigate the complex process of making choices for future care preferences, and ensuring they are honored.
Cognitive Care
According to the Alzheimer’s Association, there are roughly 50 million people worldwide living with dementia today – a number that will almost double every 20 years, reaching 75 million in 2030 and 131.5 million in 2050. Research suggests the progression of memory loss due to Alzheimer’s and other dementias can be slowed and perhaps prevented altogether.
Neurotrack
Neurotrack is a digital health company on a mission to transform the measurement and management of cognition and memory loss. This award-winning startup is led by Elli Kaplan and has raised more than $50M. In April, the company received a fast-track grant worth up to $3.3 million from the National Institute on Aging, to assess how the company’s Memory Health Program affects memory health in those at risk for Alzheimer’s and related dementias.
Mentia
Mentia is on a mission to improve the well-being of people impacted by dementia. Led by Co-Founder and CEO Mandy Salomon, who received her Ph.D. for her work on inclusive design for people with dementia, the company co-designed their product with people who have significant dementia.
Their care companion tool, Deva World, is a 3D digital world filled with activities that support commonly expressed needs like a sense of belonging, a sense of independence, and the ability to express a life well-lived.
Savonix
Savonix was founded by its CEO, Dr. Mylea Charvat who is a clinical psychologist and translational neuroscientist. Savonix developed an actionable and affordable tool for professional cognitive screening, that enables healthcare providers to evaluate and leverage results to improve health and treatment outcomes. It delivers a 30-minute mobile assessment of cognitive and emotional function.
Senior Living
Seniorly
Seniorly has built a search platform for senior living. All the user has to do is enter the city or zip code of where they are looking for housing and let the search platform do the rest. The user can see pictures and access details like average prices without having to provide any personal information. Seniorly has local advisors who can help with tasks like scheduling tours, filling in applications and eventually moving in to a community. To the user – these services are free, and Seniorly is compensated by the community that was selected.
Carepredict
CarePredict predicts health decline in seniors ahead of clinical diagnosis. Their technology utilizes wearable technology, smart indoor location tracking, deep machine learning and predictive analytics. It can detect any deviation from the user’s normal daily patterns and provides actionable insights to care professionals. CarePredict is available to seniors through Assisted Living and Memory Care communities, Independent Living communities, CCRCs and home care agencies.
StoriiCare
With offices in SF and in Glasgow, StoriiCare’s story started with a reminiscence therapy product for senior living providers. After visiting hundreds of them, the team realized that what senior living really needed was an easy to use platform that will help Senior Living providers perform more daily tasks digitally. This saves time, allows management to make data-informed decisions and makes it easy to include families in the care process. StoriiCare has recently received some more funding from the 1517 fund.
SafelyYou
SafelyYou stemmed from UC Berkeley’s Artificial Intelligence Research Lab, and developed technology that enables care staff to implement person-centered fall prevention interventions. Their study has shown the technology reduces falls and emergency room visits in memory care.
Fintech
True Link Financial
True Link Financial enables families to safeguard their loved one’s financial well-being, without compromising their independence. With more and more financial scams targeting the aging population, the True Link Card helps families control when and where the card works, and be alerted when there are charges. Using the online platform, it’s possible to prevent over-the-phone spending, disable wire transfers, block specific merchants, or limit ATM withdrawals, while allowing specific merchants or spending categories.
Want to read more local ecosystem reviews? Check out the Age-Tech scenes in the UK, Switzarland, Finland, and of course, Israel.
You can subscribe for updates using this link.
Are there any other local ecosystems that are worth reviewing? Feel free to let me know via LinkedIn! You can also follow me on Twitter and subscribe to my YouTube channel.