Plantation, Florida-based CarePredict has raised $1 million for an aging in place technology service that helps caregivers keep tabs on the wellbeing of older family members. The partial round of funding was disclosed recently in an SEC filing.
CarePredict has developed a wristworn device, called Tempo, that tracks a senior’s behavior and sends this data wirelessly t0 a rhythm journal. Tempo monitors motion, sitting, lying down, and the senior’s location in the home, which is tracked using beacon sensors set up around their house. It will also monitor certain activities including cooking, eating, and sleeping.
After the first week, CarePredict will start noticing if there are changes to the user’s normal routine. When CarePredict identifies a change in a senior’s routine, loved ones are notified through email, text, or the companion app, so that they can reach out to the senior if the change in routine needs to be addressed. Examples of some changes include: the senior is spending 50 percent more time in bed, the senior taking 30 percent less steps than normal, or the senior is cooking less than they usually do.
Data is sent to CarePredict’s online analytics system through a communications hub device that connects to the internet. If the senior does not have internet, the communications hub will send data via cellular connection, although this costs extra.
CarePredict’s offering is available for preorders set to ship this summer direct to consumer. Users can preorder the device from CarePredict’s website for $169 with an additional monitoring fee between $14.99 and $29.99 per month.
No such announcement has been made yet, but the SEC filing indicates that the company intends to raise more in this round. Also worth noting: in April of last year, digital health accelerator StartUp Health added CarePredict to its portfolio of companies.