Seniorly Raises $6.5 Million Series A

<p class&equals;"responsiveNews"><strong>SAN FRANCISCO<&sol;strong> &&num;8212&semi; Seniorly has raised a &dollar;6&period;5 million Series A round led by Formation Capital&period;<&sol;p>&NewLine;<p>Founded in 2014&comma; Seniorly helps families and older adults find the right senior living for their needs and budget&period; Through its online platform&comma; Seniorly provides access to thousands of senior living communities&comma; expert insights&comma; and personalized recommendations based search preferences&period;<&sol;p>&NewLine;<p class&equals;"responsiveNews">Seniorly says more than 4&period;5 million people are using its site to search for senior living every year&period; The company says it became profitable during the pandemic&comma; doubled its team size&comma; and has grown 3x in the last 12 months&period; Atlanta-based Formation Capital has been investing in the senior housing and care sector since its founding in 1999&period; The firm currently manages &dollar;2&period;9 billion in assets&period; They recently announced an investment strategy focused on creating new models of senior living and services&period;<&sol;p>&NewLine;<p class&equals;"responsiveNews">Formation Executive Chairman Arnold Whitman said&colon; &OpenCurlyDoubleQuote;With several new growth initiatives around occupancy and technology drivers&comma; we see both value creation in the company as well as in future real estate assets&period; Seniorly is the only company focusing on user experience and better alignment of all stakeholder interests&period;”<&sol;p>&NewLine;<p class&equals;"responsiveNews">Seniorly plans to use the new funds to accelerate hiring&comma; product development&comma; and go-to-market plans with new growth initiatives&period; Arthur Bretschneider&comma; Seniorly’s CEO and cofounder&comma; says the company spent the last few years building its foundation and is now entering a new phase of growth&period; &OpenCurlyDoubleQuote;Over the next few months we will be making some major announcements on initiatives we’ve been working on for several months&period; We couldn’t have asked for a better partner than Arnie and the Formation team&period;”<&sol;p>&NewLine;