With Backing from Omega, SafelyYou Wraps $30M Funding Round

Fall management technology company SafelyYou raised $30 million in a Series B funding round, bolstered by Omega Healthcare Investors (NYSE: OHI).

Omega also prepaid $10 million so the real estate investment trust’s 944 senior living and skilled nursing facilities could utilize its SafelyYou technology, which uses artificial intelligence-enabled video to detect falls and record them.

“We were immediately attracted to the mission of SafelyYou, which is not only an innovator and industry leader, but also supports our focus on improving senior care facilities for both staff and residents,” said Vikas Gupta, senior vice president, acquisitions and developments at Omega Healthcare Investors, in a news release.

Omega’s investment in SafelyYou is part of a larger effort that the REIT is undertaking related to technology. In March, Omega acquired Connected Living, which offers resident engagement platforms, in-room TV systems and other services.

“One of the biggest challenges for operators throughout this [Covid-19] crisis is how they could safely facilitate the connection between residents and their loved ones,” Omega SVP of Corporate Strategy and Investor Relations Matthew Gourmand said at the time. “We saw in Connected Living an opportunity to help operators address this challenge, enhance the resident experience, and differentiate the offering of their facilities.”

SCAN Group, the parent organization of SCAN Health Plan, also participated in the latest funding round. SCAN Health Plan is one of the nation’s largest non-profit Medicare Advantage plans, and recently launched a new institutional special needs plan (I-SNP) coined Embrace.

Existing investors in SafelyYou include Eclipse Ventures, Foundation Capital, Founders Fund and DCVC. Funding for the company now totals around $70 million.

In announcing the funding around SafelyYou also released a case study that showed when the technology was functional in 25 of Belmont Village Senior Living’s memory care neighborhoods over a two-year period, the rate of fall-driven emergency room visits was down to 4% – which fell below the industry average of 17-25%.