How meeting a man with MS would inspire the company’s mission: to serve older adults and those living with disabilities, and debunking stereotypes around older adults and technology. Scott Moody talks advice and the future of K4Connect.

September 16, 2020

An exclusive Tech Tribune Q&A with Scott Moody, the co-founder and CEO of K4Connect, which was honored in our:

• 2021 Best Tech Startups in Raleigh
• 2020 Best Tech Startups in Raleigh
• 2019 Best Tech Startups in Raleigh
• 2018 Best Tech Startups in Raleigh

Tell us the origin story of K4Connect – what problem were you trying to solve and why?

Isn’t there a saying that good things happen in threes? In our case, the first of those three started soon after I had “retired”, when the company I co-founded, AuthenTec, was acquired by Apple. I was on a trip to Rwanda when I met someone that I thought was doing so much good in her life that I just needed to do more. The thought (and there was not much more to it) was to start another company focused on serving the underserved, although I am not quite sure what that meant at the time. It was literally only a couple of weeks later that the second of my trilogy fell into place. That is when I met my (now) co-founder Jonathan Gould, who had what I thought was a great idea around developing a multi-modal operating system that could integrate smart devices, applications, services, and stand-alone systems into a single comprehensive system (what we now call FusionOS). Interestingly enough, we started the company with the sole idea of developing the technology, leaving the small detail of figuring out the market opportunity until later (not a recommended strategy for budding entrepreneurs). And then the final and third piece fell into place when I met someone named Eric, who was living with the challenges of MS. Now, there are a lot more to each of those stories, but it was when I met Eric that I knew why I had been called to start K4Connect – and that was to serve older adults and those living with disabilities.

What was the biggest hurdle you encountered in your journey?

There is no doubt that there are a number of set, and false, stereotypes when it comes to older adults. First is this idea that older adults do not like technology, and that is pure hogwash. What they don’t like is technology designed by a 20 year old for a 20 year old, with slightly bigger font. The fact is that if you create technology around things older adults find of value in their lives, they use it. In fact, they use it more than almost any other age demographic. Second is the idea I often hear of putting a bunch of sensors around their homes to monitor them. Well, the fact is that at the age of about two, people stop liking being monitored and it does not change once they’re 82! Again, it is the idea of providing technology that adds value to how they live their lives and when they see that value, they don’t mind if it is used to help monitor them when they need it.

What does the future hold for K4Connect?

We are a mission-centered company and what we do (serving older adults and those living with disabilities) has NEVER been more important. The fact is that our society has generally failed this demographic during these troubling times, but I believe that will almost certainly change. This change will be led by technology, coupled with the fact that there are over 1.4 billion people (and growing rapidly) in the world today in our served demographics. In the U.S., those over 65 alone are forecast to grow from 14% of the population to 24% in the next couple of decades, while in Japan, that number is forecast to grow from about 23% to over 40%. We have every intent to serve these demographics worldwide, and we have support from our investors and partners to do just that.

What are your thoughts on the local tech startup scene in Raleigh?

There is no doubt that it is one of the best in the country. OK, so it is not Silicon Valley (it is in a class all its own), but we have a growing entrepreneurial ecosystem. Early stage startup support has been very strong here, particularly around the universities’ startup funds, as well as co-founders who have funded a lot of companies in the last few years. Those funds join several others already in the area. Yet, in anything, there is room for improvement, and we need to improve in later stage funding. The fact is that folks looking to “swing for the fences” have to go outside the area (and likely the southeast) for funding. Of course, there is risk in that, versus say, a smaller acquisition, but it is those kinds of big exits (whether an IPO or large acquisition) that drive the startup ecosystem. We get a few of those (and I am sure some on this list will do just that) and we are well on our way of being in the top five startup ecosystems in the country.

What’s your best advice for aspiring entrepreneurs?

Well, first, do your due diligence on your idea. Folks often jump in too quick and don’t do the right amount of due diligence on their own idea before they commit their lives to that idea – and that is a pretty big investment. Second, do something that matters, since even if is the right idea at the right time, it will take a lot more work (and money) than you ever thought. The mission of the company, and not the money, is what keeps you going through the tough times, and there definitely will be tough times! Last, it is all about the team, not only in terms of having a great team (you can’t do it by yourself), but in that you have a far greater responsibility to all your stakeholders, including your employees (the ones that trust you care about them too), your customers (the ones that are making a commitment to some little puke company no one ever heard of), your community (where your team and customers live), and your investors (the ones that took a bet on your idea to start). They are all responsible for making your company a success, so that success does not all belong to you – either egotistically or financially.

You can find this article and more on The Tech Tribune, here!

It’s time to shift focus to solutions that will not just aid in getting by for a few months, but rather those to make us successful during this pandemic or any other crisis we may face going forward. I call it “acting tactically but thinking strategically.”

By: F. Scott Moody

August 3, 2020

The human component is a powerful part and cannot be forgotten in this rush to technology. It involves the sense or feeling of connectedness among members, where residents are engaged with their community and with each other and their families. This also is extending the connectivity to caregiver team members, integrating them with other providers and vendors, giving them the ability to reach a variety of groups with different messages or programs, quickly and at scale.

Infrastructure

A truly connected community addresses the unique needs of each stakeholder but does so in the most efficient way. The digital component can make this far easier; in fact, it is almost impossible in today’s world to do without. Of course, having the right Wi-Fi infrastructure for connectivity in all areas of a building or campus is foundational. Also, developing a multi-channel strategy for communication to all types of residents, no matter the acuity or technical ability, and providing tools and devices that integrate across the community structure.

COVID-19 has elevated telehealth to new value and importance. Having the digital infrastructure in place to connect vulnerable residents with the medical and mental health providers while remaining in the safety of their home truly has been a lifesaver. As more services move to this tele format, collecting and sharing vital signs, social behavior patterns or other assessment data will be key to supporting resident wellness and well-being.

Read the full story for more of Scott’s insights on McKnight’s Senior Living, here!

Our K4Community solutions with Allbridge’s network expertise ensures the highest quality digital experiences for the senior living communities we serve.

By: Seth Thomas Gulledge  

July 30, 2020

In the midst of an unprecedented rise in demand for its services, a Raleigh-based technology firm has a new partnership with another Triangle company that will further spread its platform across the nation.  

On Tuesday, K4Connect announced its partnership with Raleigh’s Allbridge, a leading provider of data, video and voice solutions for senior living, hospitality and health care properties. Under the terms of the partnership, Allbridge will deliver K4’s leading product, K4Community, to its senior-living operators. K4Community is designed to provide engagement and wellness features for the residents and staff of senior-living communities. The company, led by CEO and founder Scott Moody, has experienced a windfall opportunity amid the pandemic as staying home has become the norm.

“This is a powerhouse partnership,” said Ian Sanders, K4’s vice president of business development. “Joining our K4Community solutions with Allbridge’s network expertise ensures the highest quality digital experiences for the senior living communities we serve.”

Sanders said the partnership will allow K4 to reach “even more communities with these technologies” while also adding Allbridge’s technical expertise. Financial details of the deal were not disclosed. For its part, Allbridge said adding K4 Connect to its services will create a more desirable package of content.

“Together with K4Connect, we are able to reach senior living communities with dynamic digital solutions that empower residents and transform the work day for staff teams,” said Craig Snelgrove, the company’s executive vice president of sales, in a prepared statement. “Combining the K4Community senior living resident and staff solutions alongside our industry-leading data network, video, and voice products, makes for a seamless package of enterprise digital solutions these communities need now.”

According to Allbridge, the company serves more than 1 million different rooms across properties in the U.S. Already this year, K4 has reported nearly 500 percent growth, due to the demand for its product stemming from the pandemic. That success has its investors excited, and the partnership with Allbridge comes after K4 managed to close a $21 million Series B earlier this month.

“There are over 2 million older adults living in senior care communities throughout the U.S,” the companies said in a joint release announcing the news. “The technology needs of this demographic are rising in smartphone adoption, social media use, and more. Recently, the Covid-19 pandemic has further accelerated the need to reach seniors with digital tools that keep them informed, connected, and engaged while experiencing longer periods of isolation during quarantine.”

K4Connect currently counts over 800 continuing care, independent living and assisted living communities across the country as clients. Earlier this year, the company also announced a deal with Amazon to distribute more than 8,000 Echo Dots – Amazon’s smart speaker – loaded with the company’s K4Community program designed for residents and staff of senior-living communities.

Read more from The Triangle Business Journal, here!

Forte Ventures is the latest investor in K4Connect; supporting the mission-driven technology company that’s creating solutions to serve and empower older adults and individuals living with disabilities.

By: Danny Sullivan

July 10, 2020

We talk with VC investor Forte Ventures about its first foray into AgeTech, COVID-19 and the Longevity investment opportunity.

Longevity agetech company K4Connect has announced a $7.7 million finance injection, bringing its Series B VC funding round to a total of $21 million. The North Carolina based firm is a provider of smart technologies for senior living communities and serves thousands of residents at over 800 care homes, independent living and assisted living communities across the USA.

The company will apply the new funds to further accelerate the development and deployment of solutions that address the challenges brought on by COVID-19, which has had far-reaching implications for senior living. Billed as a single “operating system” for senior living communities, the K4Community solution brings together a range of smart products for residents, staff and operators in a single, simple interface.

The new funding round was led by institutional VC firm Forte Ventures. We caught up with Forte partner Louis Rajczi to find out what led his firm to get involved in its first investment in the Longevity sector.

“For K4Connect specifically, it starts with an extremely capable and experienced management team, who have “done this before” with other startup companies, and who have a commitment and belief in their mission to be able to dramatically improve people’s lives,” says Rajczi. “In addition to the team, we believe K4Connect has identified a way to successfully package and sell technology offerings into the senior living market. While the company is still at the early stages, there are clear indications that it is on the right track and fully committed to developing the customer relationships required to broaden the availability of the K4Connect solutions.”

Rajczi also points out the importance of the strong relationships Forte has with a number of K4Connect’s co-investors.

“And we know the strategic partners they have around the table, including AXA Venture Partners, Ziegler Link-Age, and Intel Capital, will bring tremendous value to help the company grow,” he adds. “We believe the combination of all these elements will position the company well for success.”

Rajczi expects the next few years to be both exciting and challenging for K4Connect – even without the extra challenges presented by the coronavirus pandemic.

“The company is at a stage now where its technology is being deployed at scale and we will soon be able to get detailed feedback from customers, not only on how well the current solutions address their issues, but also on other things they would like to see the technology do for them in the future,” he says. “It is also a time when more and more intelligent, connected consumer devices are coming on to the market that could be incorporated as part of these new solutions.”

In the context of COVID-19, Rajczi believes companies looking at buying AgeTech and care-related technologies are being impacted in the same ways as most other companies.

“Crises like these tend to expose weaknesses and faults in the “normal” way of doing business, and force companies to adapt because the old way of doing business is no longer feasible,” he says. “In some cases, it changes a “nice to have” technology to a “must have” technology, or one that would be considered as part of “next year’s budget” into one that is needed immediately. Any time there is change, new opportunities arise, and I believe investors will identify where these new opportunities are being created – including in the AgeTech sector.”

All companies are having to adapt to accommodate to the changes in the world around them, and Rajczi points out that some will do this more successfully than others.

Read more from Longevity Technology, here!

The Series B will further accelerate the development and deployment of solutions that support senior living residents; today’s most vulnerable population during Covid-19 and beyond.

By: Seth Thomas Gulledge

July 9, 2020

A Triangle technology firm working to provide solutions for senior living and the disabled has announced fresh fundraising – giving it new capital during an unprecedented spike in demand for its services. 

On Wednesday, Raleigh-based K4Connect announced a new $7.7 million raise led by Georgia-based Forte Ventures. The company says the new funding officially closes its Series B at $21 million. 

The company develops a platform called K4Community that’s designed to provide engagement and wellness features for the residents and staff of senior-living communities. The company, led by CEO and founder Scott Moody, has experienced a windfall opportunity amid the shutdowns related to the pandemic. 

In fact, Moody previously said the company had grown nearly 500 percent in just a matter of months earlier this year, due mostly to its product going from a “nice to have” to a “we have to have this.”

With its fresh funding from the Series B, the company said it plans to use the cash to “further accelerate the development and deployment of solutions that support today’s most vulnerable population during Covid-19 and beyond.” 

“We are incredibly fortunate in our investor relationships in that they not only believe in our vision but equally value our mission” Moody said of the raise. “Forte Ventures is a prime example of that relationship and we’re proud to welcome them to the bench of our valued investors. With their support, and all of our investors, we’re continuing to accelerate to serve as many older adults through technology as possible.” 

The latest raise brings the company’s total venture funding to date to $31 million. The company currently counts over 800 continuing care, independent living and assisted living communities across the country as clients.

Earlier this year, the company announced a deal with Amazon to distribute more than 8,000 Echo Dots – Amazon’s smart speaker – loaded with the company’s K4Community program designed for residents and staff of senior-living communities.

Read the full story from the Triangle Business Journal, here!