SAN FRANCISCO — Seniorly has raised a $6.5 million Series A round led by Formation Capital.
Founded in 2014, Seniorly helps families and older adults find the right senior living for their needs and budget. Through its online platform, Seniorly provides access to thousands of senior living communities, expert insights, and personalized recommendations based search preferences.
Seniorly says more than 4.5 million people are using its site to search for senior living every year. The company says it became profitable during the pandemic, doubled its team size, and has grown 3x in the last 12 months. Atlanta-based Formation Capital has been investing in the senior housing and care sector since its founding in 1999. The firm currently manages $2.9 billion in assets. They recently announced an investment strategy focused on creating new models of senior living and services.
Formation Executive Chairman Arnold Whitman said: “With several new growth initiatives around occupancy and technology drivers, we see both value creation in the company as well as in future real estate assets. Seniorly is the only company focusing on user experience and better alignment of all stakeholder interests.”
Seniorly plans to use the new funds to accelerate hiring, product development, and go-to-market plans with new growth initiatives. Arthur Bretschneider, Seniorly’s CEO and cofounder, says the company spent the last few years building its foundation and is now entering a new phase of growth. “Over the next few months we will be making some major announcements on initiatives we’ve been working on for several months. We couldn’t have asked for a better partner than Arnie and the Formation team.”
