RALEIGH, N.C., Oct. 24, 2016 /PRNewswire/ -- K4Connect, a
mission-oriented technology company that creates solutions that
serve and empower older adults and individuals living with
disabilities, today announced it has raised $8 million in Series A funding, led by Intel
Capital. In addition to Intel Capital, this financing included new
strategic investments by RGAx, LLC, a subsidiary of Reinsurance
Group of America, Incorporated (NYSE: RGA), a global provider of
life and health-related reinsurance with over $10B in revenue, and Traverse Venture Partners, a
growth equity platform focused on accelerating the transition to
more productive, flexible and valuable real estate, including
senior living communities. All of the Company's seed-stage fund
investors also participated, including Sierra Ventures, Stonehenge
Growth Equity, Lowe's Corporation and Better Ventures. K4Connect
plans to use the funds to accelerate the growth of its first
product, K4Community, designed specifically for the residents and
operators of Senior Living Communities, of which there are over
22,000 in the U.S. alone.
Intel Capital announced the investment earlier today at its
17th Annual Intel Capital Global Summit in San Diego, a gathering of nearly 1,000
technology executives and industry influencers.
"There are close to 1.5 billion older adults and people living
with disabilities in the world today, a market segment expected to
grow to nearly 28 percent of the world's population by 2050," said
Scott Moody, Co-founder and CEO of
K4Connect. "That's an enormous segment of society currently
underserved by technology. Our solutions, of which K4Community is
just the first, empower those we serve to live simpler, healthier
and happier lives."
K4Community integrates the latest in smart technologies into a
single responsive platform, enabling smarter living environments
and healthier lives, while also fostering family and community
engagement for senior living residents. With a single touch,
community residents can control their apartments, stay connected
with loved ones through photo sharing or video chats, and stay more
engaged in community activities through event calendars and
newsletters. K4Community also benefits operators of these
communities by allowing them to provide the best in care and
hospitality with value-added amenities, while increasing revenues
and lowering costs.
"K4Connect puts the power of technology to work in a way that
benefits the lives of older adults and people living with
disabilities," said Doug Davis,
senior vice president and general manager of the Internet of Things
(IoT) Group at Intel Corp. "Bringing smarter connections and
innovative technologies to new places and underserved users aligns
with Intel's vision for the future of how we live and work across
all sectors."
Sierra Ventures and Stonehenge Growth Equity were previously
investors in AuthenTec, the fingerprint sensor technology company
co-founded by Moody that was acquired by Apple in 2012. AuthenTec
remains the only public company ever acquired by Apple, and its
technologies are now the foundation for Apple's Touch ID.
"We're excited about supporting Scott and the team at K4Connect
as they work to transform an industry and make a difference in
people's lives, much as they did at AuthenTec," said Ben Yu, Managing Director at Sierra Ventures.
"We've seen many other companies in this space, but K4Connect has
worked extensively with those they serve to produce what we think
is a truly unique solution."
"What impresses us most about K4Connect is not only their
mission orientation, 'To serve the underserved', but that they have
assembled a very talented team," said Steve
Lux, Managing Partner at Stonehenge Growth Equity. "We're
thrilled to be supporting Scott again and helping the K4Connect
team make their mission a reality."
To learn more about K4Connect, visit www.k4connect.com.
About K4Connect
K4Connect creates solutions that serve
and empower older adults and individuals living with disabilities,
enhancing lives through an open technology delivery and management
platform that combines home automation, health and wellness
technology, content and communications. The Company's products
enable simpler, smarter living environments and healthier lives,
while fostering family and community engagement. For more
information, please visit www.k4connect.com.
About Intel Capital
Intel Capital, Intel's strategic
investment and M&A organization, backs innovative startups
targeting computing and smart devices, cloud, datacenter, security,
the Internet of Things, wearable and robotic technologies and
semiconductor manufacturing. Since 1991, Intel Capital has invested
US$11.7 billion in 1,457 companies
worldwide, and 605 portfolio companies have gone public or been
acquired. Through its business development programs, Intel Capital
curates thousands of introductions each year between its portfolio
executives and Intel's customers and partners in the Global 2000.
For more information on what makes Intel Capital one of the world's
most powerful venture capital firms, visit www.intelcapital.com or
follow @Intelcapital.
Media Contact:
Lindsay
Hull
Zer0 to 5ive for K4Connect
(508) 963-1356
Lindsay@0to5.com
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SOURCE K4Connect