Senior living provider TSOLife receives $43M in capital funding

TSOLife, an innovative technology company focused on enhancing the senior living home experience, has received an additional $43 million in capital, after completing a Series B funding round led by PeakSpan Capital.

Through advanced AI technology, the Tampa-based company has developed a platform that uses resident interviews to create applicable data that senior living homes can utilize every day. The platform is called Minerva.

CEO David Sawyer. Photo provided.

“Our whole goal is to continuously invest in our product and our development team,” TSOLife CEO and co-founder David Sawyer told the Catalyst. He believes AI technology can revolutionize the senior living industry. 

Many think of senior living as a need-based industry. Seniors are often moved to homes because they can no longer take care of themselves, or their families cannot take care of them. Sawyer wants to use TSOLife’s technology to make senior living homes more appealing to residents.

“For senior living to survive and really innovate, it needs to move away from being need-based to actually want-based,” he said.

“We should create a product that people want to move into.”

Helping residents pursue the activities they love, and encouraging them to form bonds with other like-minded residents can dramatically “improve [their] quality of life,” Sawyer added.

TSOLife’s platform removes the need for paper resident profiles. The data collected in the interviews allows Minerva to develop digital resident profiles, including each resident’s history, personal preferences and favorite activities. Minerva can also help plan activity calendars, analyze satisfaction surveys and even suggest friend matches.

The software’s goal is to form “actionable insights that support real-time decision-making,” TSOLife declared in a prepared statement. Minerva encourages residents to “take an active role in shaping their well-being” by sharing what makes them most happy and what specific needs they may have.

For example, residents can highlight their morning or bedtime routines, favorite games and what religion they practice. This data can help senior living staff connect more with the residents and ensure their needs and desires are met. 

Series B funding, which is the second level of investor funding for startup companies, will help expand TSOLife’s business and mission. The company plans to “expedite product development, enhance its AI capabilities, and increase customer support.”

TSOLife was established out of a personal passion. Sawyer developed a legacy preservation software for a college project at Stetson University after losing his grandmother. He started to interview residents at local senior living homes to preserve their histories and life stories.

Sawyer then realized he could use interviews to transform how residents live, by creating tailored experiences for them. “It all started with that central ethos of wanting to get to know somebody,” he elaborated.

TSOLife’s platform has been used by Brookdale Senior Living, Priority Life Care, Benchmark Senior Living, Commonwealth Senior Living and Sagora Senior Living, among others.

The recent Series B round increases the company’s total funding to $52 million since 2022.