The United States is experiencing a significant increase in its elderly population — 80 million over age 65 by 2040 — and 90% of these baby boomers prefer to age at home, not in a nursing home.

Further reading: The future of aging relies on purposeful software innovation

Unfortunately, our healthcare system and social support fabric are not adequately equipped to support this shift. Caregiver burnout is expected to rise, with 42 million Americans currently caring for an elderly parent, spouse, or other individual — a number projected to grow by nearly 50% by 2040. Private payers have not kept pace with the increasing demand. The fragmented provider networks for non-medical aging-in-place services, long-term care insurance (LTCI), and Medicare Advantage have struggled to create a cohesive national network. These outdated systems result in poor visibility in care quality for those wishing to age in place.

Non-clinical home care agencies are the buttress to the dam, providing support and stability and enabling elders to safely stay home. From personalized care plans, assistance with daily activities, or companionship, non-clinical home care agencies can be a great combination of SMB resourcefulness, hard work, and patient empathy. The results? Seniors maintain independence, which means dignity and quality years of life. They also happen to stay out of hospitals at a higher rate — better for health and societal cost.

However, these agencies are not designed to scale without compromising service qualities. Supporting hourly caregivers is expensive, made even more difficult by the shortage of qualified professionals, significant regulations, fragmented communications, and data sharing with providers and payers.

If only there were technology and data science to continuously and accurately assess elders 24/7, allowing home care agencies to enhance their responsiveness while preserving consent, privacy, and dignity…

Enter Sensi.ai.

Sensi helps seniors live independently for longer, driving revenue for home care agencies, and reducing the burden on payers and providers. The company’s audio-based NLP- and LLM-based models sell into non-clinical home care agencies and monitor elderly patients at home to identify emergencies and care needs in real time, resulting in reduced hospitalizations. In addition to additional revenue streams and greater caregiver efficiency, Sensi also enables home care agency customers to drive higher senior client retention and competitive differentiation between other agencies.

Sensi’s solution comes in three parts:

1. Hardware: Sensi’s in-home pods use audio technology to detect care anomalies. Setup is a simple plug and play, frequently taking fewer than five minutes (including the unboxing).
2. Software: Verticalized NLP and LLM models trained on rich, clinician-labeled data process sounds to identify emergencies and care needs (falls, UTIS, cardiac events, mental distress) tailored to each patient, with high accuracy.
3. Care Co-pilot: Sensi offers real-time alerts with a patient and workforce management platform for care agencies, helping management deploy services at the right time depending on urgency and care needs.

Sensi first came on Insight’s radar back in 2020. We recognized the company’s innovative audio offering, which was well-positioned to serve this market with its balance between accuracy and privacy. We highlighted their process in our blog in 2023, and continue to be impressed by Sensi’s growth, spearheaded by a strong management team.

Sensi’s home care agency customers are impressed, too:

• “We want to keep clients in their home as long as possible, and with Sensi, we can act fast when things go wrong to minimize risk of hospitalization.”
• “Sensi helps you know when your clients need you most, allowing you to best allocate caregivers across clients in a way that increases efficiencies and quality of care.”
• “Sensi is helping us drive new business, since we can now offer Sensi to clients who do not use our caregivers before but want an extra level of assurance.”
• Since working with Sensi, we are getting a lot more interest from nursing homes and hospitals for referrals given the technological edge Sensi provides.”

We are excited to be co-leading Sensi’s $31M Series B with Zeev Ventures!

If you’re a non-medical home care agency looking to elevate your quality of care, you can learn more about Sensi at https://www.sensi.ai and get a demo. You can also reach out directly to the Insight Team (sbarclay@insightpartners.com, alundin@insightpartners.com, smohammadzadeh@insightpartners.com).

TPG, a leading global alternative asset firm, and Fractal (fractal.ai), a global provider of artificial intelligence and advanced analytics solutions to Fortune 500® companies, today announced that they have signed a definitive investment agreement. TPG is investing US$ 360 million (about INR 2700 crores) in Fractal through TPG Capital Asia, the firm’s Asia-focused private equity platform, in a transaction that includes a combination of primary investment and secondary share purchase from Funds advised by Apax, who will remain a major shareholder following the transaction. The transaction is expected to close by the first quarter of 2022. Additional terms were not disclosed.

“We continue to see great momentum in how clients are leveraging AI to accelerate digital transformation. Fractal is building a great workplace and an innovative culture that’s driving significant client outcomes through our ‘user focused, decision-backwards’ approach to solving problems,” said Srikanth Velamakanni, Co-founder & Group CEO, Fractal. “TPG’s capabilities across all our markets and their proven success in building and supporting top AI providers is the perfect complement to the partnership we’ve enjoyed with Apax, whose insight and expertise have been instrumental in accelerating our growth.”

Pranay Agrawal, Co-founder & CEO, Fractal, said: “The demand for AI is surging across the enterprise. Our AI solutions and products, along with our globally recognized team of experts, empower these organizations to realize and maximize their full potential. Apax has been a great partner to us as we have worked to grow our business, providing valuable insights from their tech experience, operational leadership, and access to their unique network. As we continue to build upon this foundation, the investment from TPG will accelerate our ability to scale and meet this rising demand globally.”

“In the growing market for data and analytics services, Fractal continues to stand out as one of the most well-established, differentiated providers and a clear leader in AI and advanced analytics,” said Puneet Bhatia, Co-Managing Partner of TPG Capital Asia. “The quality of Fractal’s offering has enabled them to build a deep and loyal client -base, made up of some of the world’s largest and most respected companies. Srikanth and Pranay have built a highly respected and market leading company, and we are excited to partner with this proven management team to continue to enhance Fractal’s organic and strategic growth.”

Rohan Haldea, Partner at Apax and Shashank Singh, Partner at Apax, commented: “Since partnering with Fractal, we have been able to combine the Company’s strong value proposition and unique culture with Apax’s deep tech expertise to drive the business forward. We are proud of the progress the Company has made to date alongside Srikanth and Pranay, establishing Fractal as one of the leading players in the rapidly-evolving analytics and AI space, and look forward to partnering with TPG and Fractal in this next chapter for the business.”

Fractal is one of the most prominent players in the Artificial Intelligence space. Fractal’s mission is to power every human decision in the enterprise and brings AI, engineering, and design to help the world’s most admired Fortune 500® companies. Fractal has more than 3,500 employees across 16 global locations, including the United States, UK, Ukraine, India, Singapore, and Australia.

As part of the transaction, TPG’s Puneet Bhatia and Vivek Mohan will join Fractal’s board of directors. All current directors including Gavin Patterson, Rohan Haldea, Shashank Singh, and Gulu Mirchandani will continue to serve on the company’s board. Both TPG and APAX will be minority shareholders in the company.

TPG is a leading investor in software and enterprise technology with extensive experience partnering with the world’s top AI solutions, business analytics, and data processing companies. Select current and past investments include C3 AI, Digital.ai, LLamasoft, MX, Noodle Analytics, and Onfido.