Tenera Care Receives New Funding for Product Development and Growth
Tenera Care today announced it received CDN$7.4 million (about US$5.2 million) in new funding led by Build Ventures and Export Development Canada (EDC) and including its previous investors. This includes CDN$2.1 million in bridge funding to finalize product development and CDN$5.3 million to support an ambitious Canadian and U.S. growth plan. The Halifax, Nova Scotia-based company’s Tenera Care Real Time Location Service (RTLS) is focused on empowering Senior Living community operators with data-driven insights on the health and wellness of residents as well as supporting better staff management.
“The Senior Living market needs innovative solutions to protect residents and better support staff,” said Stephen Fitzgerald, CEO of Tenera Care, “This funding advances Tenera Care’s industry-leading location tracking and fall detection while fueling strategic growth. We are already seeing strong interest in both the Canadian and United States markets”
Tenera Care provides real-time data to deliver better outcomes for staff and residents alike, enhancing operational efficiency and improving resident health and safety. Residents can call for assistance from anywhere, and the system identifies situations where they may need help and automatically calls for them.
Nova Scotia-based Shannex, with care facilities in Nova Scotia, New Brunswick and Ontario, is a strategic partner and active user of the Tenera Care solution. “At Shannex, we have seen firsthand the benefits of the Tenera Care platform to improve the health and wellbeing of our residents. This location-based technology empowers our managers with data-driven insights and improves the performance and job satisfaction of our staff,” said Jason Shannon, president of Shannex.
Tenera Care also identifies trends in resident mobility, socialization and more. The solution integrates with existing call systems and other Senior Living community software, and can be applied to other healthcare settings, including homecare.
“The Senior Living space, particularly those facilities focused on complex care and memory care environments, need the Tenera Care solution. It is a practical, pragmatic and affordable platform that improves resident health and safety while also creating happier and more satisfied employees,” said Rob Barbara, general partner at Build Ventures.
“That kind of win-win solution will make Tenera Care very attractive to operators across North America.”
