K4Connect Secures $8M Series A Funding Led by Intel Capital to Empower Seniors and People with Disabilities Through IoT Health Platform

K4Connect, a developer of an IoT health platform for seniors and individuals with disabilities based in North Carolina, was founded in 2013 and recently secured $8 million in Series A financing led by Intel Capital. Other participants included RGAx, a subsidiary of Reinsurance Group of America, Traverse Venture, Sierra Ventures, Stonehenge Growth Equity, Lowe’s Corporation, and Better Ventures.

“There are currently nearly 1.5 billion older adults and people with disabilities worldwide, and this demographic is projected to grow to nearly 28% of the global population by 2050,” said Scott Moody, co-founder and CEO of K4Connect, in a statement. “They represent the largest yet most underserved group in terms of technology adoption today. As a leader in the senior care market, our solutions empower them to lead simpler, healthier, and happier lives.”

K4Community integrates diverse smart technologies and hardware kits into a unified responsive system that is user-friendly for its target demographic of older adults, encompassing connected smart lights, appliances, and fitness equipment. The K4Community starter kit includes a Garmin activity tracker and enables users to view fitness data from the system on a tablet. The company primarily markets this system to retirement communities.

K4Community is essentially the currently popular Internet of Things (IoT)-enabled smart home system. It comprises everyday products, ranging from light switches to thermostats, which are now interconnected via IoT technology to meet user needs through a tablet interface. For instance, by integrating “smart” thermostats and light switches with a dedicated tablet application, users can adjust ambient temperature and lighting brightness at any time, thereby conserving energy. The tablet can even serve as a remote control for the television.

Today’s senior living communities offer an endless array of entertainment programs, travel opportunities, and courses. Through the K4Community platform, you can access all community information, from dining menus to community event calendars and announcements. K4Community ensures that you are always informed and engaged, making it easier for every senior in the community to manage their apartment (often automatically) and health status, while staying connected with others in the community and their families. With this service, senior living communities can reduce staff turnover.Network, benefiting from increased revenue and cost savingsCarriers can enhance customer and household satisfaction.

Founder Moody is an impressively successful entrepreneur; his previous company, AuthenTec, was acquired by Apple and became the foundation of the company’s Touch ID technology.

Intel’s investment in K4Connect was part of a cohort of 12 tech startups that collectively received $38 million in funding, as announced last week. The announcement was made at the Intel Capital Global Summit held in San Diego, California.

Doug Davis, Senior Vice President and General Manager of Intel’s Internet of Things (IoT) Group, stated, “K4Connect harnesses the power of technology to make life more convenient for older adults and people with disabilities. By delivering smarter connectivity and innovative technologies to those who need them most, this aligns with Intel’s vision for transforming the future of how we live and work.”