These Are the Age Tech Startups You Need to Watch in 2020
Part of the work that goes on behind the scenes for TheGerontechnologist, involves following the startups that get featured on the Market Map on an ongoing basis.
Every year, some companies stand out, for various reasons, from major funding rounds to strategic partnerships.
These are the Age Tech startups (and scale-ups) I think you should watch in 2020.
This 2016 YC alumni promised to connect college students to older adults in need of transportation or basic help around the house. Their tagline, “Grandkids on-Demand” represented a simple idea executed so well, that by 2019, they managed to dominate 3 states and announce nationwide expansion. Besides YC, the company has been backed by Initialized Capital (Alexis Ohanian, Reddit co-founder) and Pivotal Capital (Melinda Gates).
Why are they on the list? This company has shown spectacular growth over the past few years, and recently announced that it was expanding the scope of its services to “Family on-Demand”, with programs designed to “support all Government-sponsored health plans, employers and consumers nationwide”.
Serial entrepreneurs Mike Lewis and Nader Akhnoukh founded Onward in late 2018 to help seniors get reliable, safe, door-to-door rides.
Unlike regular “curb to curb” ride-hailing 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.
Why are they on the list? This in-advance ride hailing service could potentially fix not only mobility for the aging population, but also, post retirement employment.
When I spoke to Mike, Onward’s CEO, 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).
Founded in 2016 with the ambitious goal of transforming care, Embodied Labs is using VR to create an immersive training platform for the elderly care workforce, enabling them to “walk a mile” in someone else’s shoes. Watch their CEO, Carrie Shaw explain how it works:
Why are they on the list? They’ve recently announced raising $3.2M in funding to scale the platform, so we can expect their reach to grow and expand.
Satish Movva founded the company in 2013, out of a personal need that he had, to take care of his parents. The CarePredict Tempo™ wearable is able to track activities of daily living and notice the small changes that can precede serious risks like falls, malnutrition, depression, and UTIs – enabling early attention days before something happens. The company has won several awards and was an honoree for 2020’s CES innovation awards.
Why are they on the list? After raising almost $20M and signing agreements with several senior living providers, CarePredict announced the launch of their direct-to-consumer brand, CarePredict @Home, in 2019.
Founded in 2014 in Canada, this company developed an award-winning cloud-based software for home care and senior living. Recently, they’ve raised $33M growth funding, partnered with CareAcademy and acquired Procura and Arrow Solutions to scale expansion in the long-term care US market.
Why are they on the list? The latest funding round followed by strategic partnerships and acquisitions indicate that AlayaCare is determined to dominate the long-term care software market.
Pillo Health
This company was founded in 2015 with the purpose of improving patient outcomes and allowing businesses to bring their healthcare mission into the home. They’ve developed an adorable pill dispenser that is able to remind users when they need to take their pills.
Why are they on the list? They recently announced a partnership with Black & Decker to launch the robotic health companion Pria. That announcement followed a previous one about a $11M funding round led by Stanley Ventures, the corporate venture capital fund within Stanley, Black & Decker.
Those were the Age Tech startups (and scale-ups) that I think you should watch in the 2020. Know anyone else that belongs on this list? You can use the contact page to write to me.
If you missed my review on the past decade in Age Tech, click here. If you’re interested in who made the Startup Watchlist in 2019, click here.
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