MFA Longevity Market Report
News and insights from thought leaders in the longevity economy
July 2021
Dear Friends and Colleagues,
 
I’m hoping you are getting a bit of a "refresh" this summer despite the ups and downs of the COVID pandemic. I took a day trip to see the ocean last week and visited Mavericks in Half Moon Bay. Some of you may remember Mavericks' owner Jeff Clark keynoted our Silicon Valley conference on "Surfing the Longevity Market" in 2016. It was fun to see the local surfers in the water and get a welcome change of scenery.

After the success of the What’s Next Longevity Venture Summit, we have been incredibly busy. We are so very impressed by the tenacity and creativity of entrepreneurs in the longevity field as they continue to build their teams, products, and services – and strive to support all of you, either through our newly expanded base of private clients or through our conferences.

We hope you find the many exciting updates in this newsletter refreshing and revitalizing. And please send us pictures of your summer adventures to be included in our next newsletter!
 
Warmly,

Mary
Table of Contents:
  • Register Now: Washington, D.C. Innovation Summit, December 1-2
  • RESI Longevity Conference, September 16-17
  • New Podcast - Grandparents Using Tech to Connect
  • Funding and Promotional Opportunities
  • Funding News
  • Corporate Updates
  • Books, News, Reports
Register Now for the Washington, D.C. Innovation Summit!

Now in its fourth year, the What’s Next Longevity Innovation Summit helps leaders in the innovation ecosystem connect and informs entrepreneurs and investors about how to navigate the regulatory environment. This year’s summit, Innovation, Investments, Infrastructure, and Influencers, will be held December 1-2. Register now for the early bird rate!
Join MFA at the RESI Longevity Conference

MFA is helping to organize the RESI Longevity Conference, which is being held from September 16-17. RESI Longevity is a new partnering conference focused on early-stage companies in the longevity field. RESI Longevity brings fundraising startups together with investors to make deals that help older adults live longer, healthier lives. Register now!
New Podcast! Gaming Grandparents: Using Tech to Connect

Gaming Grandmas? Today, grandparents are engaging their grandchildren across different online platforms. And it’s fun! In Episode 12 of What’s Next: Living Longer Better Smarter, learn what’s driving this and what platforms grandparents are logging in to. Mary Furlong and Fred Fishkin are joined by Tami Bhaumik, VP of Marketing and Digital Civility at Roblox; Lori Bitter, President of The Business of Aging and Author of The Grandparent Economy; Jean Gregoire, Founder & CEO of Lovebox; and Aaron Neuenschwander, CEO of Readeo.
Funding and Promotional Opportunities

  • Apply by July 28th for the Techstars Future of Longevity Accelerator, which is run in partnership with Pivotal Ventures. The accelerator focuses on innovative solutions to address the unmet needs of older adults and their caregivers. Program themes include: aging in place, caregiver support, care coordination, financial wellness, preventive health, and social engagement. 
  • Apply by August 6th for the Consumer Technology Association Foundation’s Eureka Park Accessibility Contest. Five startups with technologies that can benefit older adults or people with disabilities will be selected to receive: (1) a complimentary booth at CES 2022 in Eureka Park (the show’s flagship startup marketplace); and (2) a $2,500 prize. 
  • Submit proposals by August 15th to present at the American Society on Aging's annual conference.
  • Apply by August 26th for the ICAA NuStep Beacon Award that recognizes senior living facilities focused on improving quality of life for residents and staff. 
Funding News

  • The behavior change startup Thrive Global raised $80 million in Series C funding, co-led by Kleiner Perkins and Owl Ventures. 
  • The University of South Florida received a $70 million grant from the National Institutes of Health to support research on environmental causes of Type 1 Diabetes, once considered primarily genetic. 
  • Wellthy, a care coordination platform, received $35 million in Series B funding led by Rethink Impact. 
  • A medtech startup that makes dialysis care more accessible, Quanta, received $245 million in Series D funding led by Glenview Capital and Novo Holdings.
  • Canadian home and community services software company AlayaCare raised $225 million CAD in series D funding led by Generation Investment Management LLP. 
  • Alio Medical, which uses wearables to provide real-time clinical data, raised $20 million in Series B funding led by Thomas Krebs and Zekavat Investment Group. 
  • Telehealth company Connect America acquired Royal Philips’ Aging and Caregiving business for an undisclosed amount in a push to get into the senior care market. 
  • A platform focused on helping adults 55+ learn through social interaction named Jump raised $3.1 million, led by Creandum and South Park Commons.
Corporate Updates
Home is the "New Frontier of Healthcare"

As more older adults receive care in their homes, greater burdens are being placed upon family caregivers. In fact, caregivers spend an average of $7,242 a year on caregiving expenses according to a new AARP report. And the stress of providing specialized care for little or no pay and training adds up – impacting health, finances, and quality of life. This is why AARP is calling on Congress to pass the Credit for Caring Act that would give family caregivers up to $5,000 in tax credits per year to help cover some of the costs (and lessen some of the stress) associated with caregiving. 
GetSetUp Expands with New Platform and Markets

The 15-month-old social learning startup GetSetUp has launched a new member engagement platform for Medicare Advantage plans that helps address social determinants of health. GetSetUp is also seeing increasing traction with its original social learning platform in emerging markets. With users creating classes in Mandarin, Malay, Hindi, and more, GetSetUp offers older adults from Asia who live in the US a unique opportunity to connect with peers back home and lead an active lifestyle. GetSetUp's global offering was recently profiled in YourStory and in G1, the website of Brazil's TV Globo.
Embodied Labs on CNN's 'Tech for Good'

Embodied Labs was featured in CNN International’s Tech for Good segment, which explores how technology is changing healthcare. CEO Carrie Shaw shared how the company’s immersive virtual reality training provides a unique opportunity to truly understand the experiences of those with specific health conditions and needs.
Obie for Seniors Achieves a Series of Wins

Obie for Seniors by EyeClick has a handful of exciting updates this month:
MyndVR Gains Traction in California

This month, MyndVR received great press coverage about its work providing virtual reality experiences to senior living residents in California. Coverage included an article in McKnights Senior Living, an article on the front page of the Bakersfield Californian, and an article on KGET (NBC).
Caregiver Corner Offers New Supports

BrioCare, a voice-first care platform, has launched the Caregiver Corner on its mobile app. The Caregiver Corner provides one convenient location for caregivers to access information and supports, including conveniently storing care team contact details, accessing health condition-specific resources, finding information on government supports, and much more in one convenient location.
Vivo Passes 100 Members

Providing a community for those who are staying active to stay independent, Vivo recently crossed the 100 member milestone and boasts a 90% retention rate. Based on physical assessments after the initial two months of training, Vivo members average an increase of lower body strength by 27%, endurance by 25%, as well as marked progress in upper body strength and agility.
BlueStar SeniorTech now BlueStar Telehealth

BlueStar SeniorTech is changing its DBA name to BlueStar TeleHealth to reflect its increased focus on using senior technologies to provide healthcare services in the home. BlueStar is providing remote patient monitoring and chronic condition management services to seniors. With a dozen current telehealth clients, BlueStar has recently signed letters of intent to begin new work with two hospitals, two federally-qualified health centers (FQHCs), and two large physician practices.
xCures Raises $12.7m and Launches xINFORM

xCures announced the closing of its Series A round raising $12.7M. xCures also announced the publication of a technical paper that explains how its approach can generate evidence from real world evidence gathered from a small cohort of patients in a similar manner to controlled trials. Lastly, xCures launched its xINFORM product which allows patients to get direct, free access to its technology for generating treatment options for advanced cancer.
VitalCare Social Enhances Engagement

VitalTech has acquired Breezie, now known as VitalCare Social, with plans to enhance seniors’ experience of connectedness and engagement through user-friendly technologies. With this strategic acquisition, the VitalCare platform offers seniors the opportunity to engage
and contribute to their communities and interact with their loved ones remotely through a single app — making VitalTech’s virtual care platform, VitalCare, and VitalCare Social’s personalized tablet interface the most comprehensive patient engagement technology in the market.
LivNow Relocation to Launch September 1

LivNow Relocation is currently meeting with investors with a go live date of September 1st. LivNow Relocation delivers financial results to 55+ and senior living communities nationwide by helping residents speed up the move in process and transition into the community with ease through its dedicated Move Coordinator and The Move Planner App.
Books, News, and Reports

  • Wiser, by Dr. Dilip Jeste and Scott Lafee, explores what science says wisdom is and how to grow “wiser” at any stage of life. 
  • In Lifelines, Dr. Leana Wen emphasizes the pivotal role that public health plays in our society while sharing her journey from struggling immigrant to one of Time’s 100 Most Influential People. 
  • Researchers from Project Big Life, a Canadian health calculation research group, created Risk Evaluation for Support: Predictions for Elder-Life in the Community Tool (RESPECT) that projects a frail person’s survival to inform what types of services and supports they may benefit from.  
  • The pandemic pushed many Baby Boomers to retire early, which will have longer-term economic impacts according to a recent LA Times article. 
  • Senate Democrats proposed a budget framework that would include federal funding for home and community based services, likely similar to what President Biden originally included in his infrastructure plan. 
  • Triple Tree recently released a report on trends in telehealth and virtual care.
Send us your summer pictures for a chance to have them included in our next newsletter!
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