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Wednesday, May 22, 2024

Morrisville-based K4Connect raises $8.9 million

A Morrisville-based company that makes and integrates software for nursing homes and assisted living facilities and their residents has raised $8.9 million from investors.

K4Connect said in a Securities and Exchange Commission filing on Thursday that the money came from 14 investors. It would like to raise another $1 million in the funding round.

The company announced last year that it had raised $12 million in venture funding from existing and new investors since the start of the pandemic. The investors included Forte Ventures, Second Century Ventures, and senior living industry leaders — CoastWood Senior Housing Partners President Daniel Decker, BPOC Founder and Omega Healthcare Investors co-founder William Petty, and RSF Partner and National Investment Center for Seniors Housing & Care Chairman Kurt Read.

K4Connect has now raised more than $43 million. Its FusionOS integration platform has more than 40 patents and acts as an operating system for a nursing home or assisted living facility.

Its K4Community controls everything someone needs through a single app. When a resident gets up in the middle of the night, a light comes on, helping prevent falls. Thermostats adjust overnight. Activity trackers, pill reminders and bed sensors that monitor sleep are part of the package. Residents connect with the community through in-app calendars, messaging and video chats.

Last year, the company reached a partnership with Vayyar Care, an automatic fall detection and remote monitoring company, to provide touchless, camera-free fall detection technology to senior living residents and operators.

Its CEO and co-founder is Scott Moody. He was the co-founder and CEO of AuthenTec that went public in 2007 and sold to Apple in 2012.

 

Chris Roush
Chris Roush
Chris Roush is executive editor of Business North Carolina. He can be reached at croush@businessnc.com.

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