Advantage Capital Leads $4.25 Million Series A Round in AI Elder Care Solution Company, Ai2
Updated: Dec 10, 2021
Investment in Algorithmic Intuition (Ai2) is powering the growth and expansion of this...
Investment in Algorithmic Intuition (Ai2) is powering the growth and expansion of this first-of-its-kind solution that pairs existing sensor technology with an open architecture, artificial intelligence (AI) platform to provide comprehensive elder care monitoring.
RENO, NV – Advantage Capital today announced it led a $4.25 million Series A round in Algorithmic Intuition (Ai2)—an artificial Intelligence (AI) solutions provider for elder care monitoring. The investment comes as Ai2 announces plans to move its operations to Reno and go to market with its innovative technology in early 2021.
Ai2’s technology is introducing an open-architecture monitoring solution powered by AI and machine learning that can track vitals, activity and fall detection. While there are a number of monitoring solutions on the market, Ai2’s solution uses sensor fusion that can monitor activity in increasingly precise ways. Where other devices rely on bulky wrist-worn wearables or single-point sensors placed in or on various objects, Ai2’s low-cost, water-resistant wearable sensors deliver a more expansive view of a person’s condition by integrating them into just one platform using AI and open-source architecture that offers a “smart” aspect to monitoring.
Ai2’s product has the potential to transform the elder care industry by providing 24/7 data monitoring that can alert caretakers and family members to potential signs of health deterioration or indications that additional ongoing assistive services are required. The monitors work by interpreting sensor data in a way that signals changes in behaviors that can be early indicators of a need for assistance.
“We are truly excited to be taking our product to market. We have spent years refining, testing, and optimizing our technology to ensure its efficacy,” said Dan Brown, CEO of Ai2. “Our product offers family members and caretakers ease of mind, knowing that advanced monitoring systems are in place to help keep track of their loved one’s health.”
Ai2’s monitoring solution also eliminates the need for cameras, infra-red and microphone deployment that many seniors find too invasive. By combining movement monitoring through accelerometer measurements with key vitals, the Ai2 system provides assisted living facilities and home healthcare services with non-invasive visibility into a person’s daily behaviors and health measurements.
The company’s technology is truly redefining what it means to age-in-place. With 20 million people in the US over the age of 75, solutions like the one Ai2 provides will continue to grow in demand. Aging adults are increasingly choosing to live in the comfort of their own homes as opposed to residential care. The Ai2 solution overcomes the challenges associated with understanding when to change care plans or when more immediate help is needed. It enables home care staff to easily access a visual overview of daily activity through an easy-to-use application for a single client or monitor multiple clients through an office dashboard.
Along with the announcement of taking its product to market, the company is also moving its operations from California to Reno. The move is expected to bring more than 40 new jobs to the area over the course of the next five years.
“This is an exciting move for Ai2 and we are thrilled to bring our business to Reno,” added Brown. “With easy access to top tech talent from the local universities, combined with the lower cost of operations, Reno is an ideal place to grow our business.”
“Ai2 is a great company and we are excited to work with them,” said Greg Hulecki of Advantage Capital. “We are always looking for great growth stories and opportunities like this. Ai2 offers a truly innovative and cutting-edge product and we are we are excited to support the Company in their commercial launch.”
About Advantage Capital Advantage
Capital provides financing to established and emerging companies located in communities underserved by conventional sources of capital. Since 1992, the firm has invested more than $3.4 billion in companies from a diverse array of industry sectors and has helped support more than 50,000 jobs. Learn more at www.advantagecap.com, or via Twitter or LinkedIn.
About Algorithmic Intuition
Algorithmic Intuition is focused on ways to close the gap between devices and the way we interact with them. The company develops deep-learning-based algorithms that recognize activity and vital information such as, heart rate, SpO2, respiratory, blood pressure, and fall detection. From these algorithms, its products derive actionable insight for devices to better understand human needs, delivering more robust senior care solutions.
Joe Stosberg, Communications Specialist
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