RALEIGH– K4Connect, a Raleigh-based company that creates technology solutions centered around the Internet of Things to help older adults and individuals with disabilities, has raised another $1 million in equity, according to a recent SEC filing.
That’s in addition to $11.75 million that the company raised back in December 2018. In total, the company has now raised more than $23 million since 2015.
Eleven investors contributed to the latest fundraise, with another $500,000 remaining to be sold.
The funds will be used towards the payment of salaries and other compensation and benefits, the filing indicated.
In recent years, K4Connect has become one of the fastest-growing companies in the Triangle.
The company’s K4Community system is built on its K4LifePlatform, which brings together all the aspects of a senior living community: menus, event calendars, smart home automation, community management and analytics in an application that can be accessed on mobile devices or desktop computers.
Future K4Connect products also include K4Home, which the company says is for older adults living in their own homes, and K4HomeCare, which is designed for care agencies.
The company has a growing client base of senior living centers across several states, including North Carolina, Florida and California. K4Connect currently serves more than 15,000 residents at over 75 retirement and care communities across the nation.