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Aging Well

Aging Well
October 14 2020

Social Security for payout for seniors has experienced the lowest increase since its inception. The arcane calculation rules have the potential to push millions of retirees into poverty. 

The pandemic has increased the cost of living for many seniors as they avoid in-person transactions and activities that usually come at a higher price tag. This spurs many silver tech startups to action. 
 

 AARP 2020 Tech Survey had the surprising finding that adults over 50 are adopting new technologies such as smartphones, wearables, home smart speakers, and smart home technology, at about the same pace as 18-49-year-olds. Covid-19 is accelerating the shift towards online and expediting the older generation’s use of new technology, as more seniors find themselves isolated from friends and family. To meet the large and growing demand for silver tech, innovative startups are applying technologies to service seniors, from improving transportation and mobility, increasing virtual connectivity, enabling telemedicine, and providing entertainment and financial virtual services oriented towards older adults.

In the Spotlight - Silver Tech

Papa monitors and manages all virtual interactions between the company’s employees and their charges, flagging issues that may be raised in discussions, like depression and potential problems getting access to food or medications. The monitoring is designed to ensure that meal plans, therapists or medication can be made available to the company’s charges.

JOANY is a venture-backed technology company that makes understanding, buying, and using health insurance simple and transparent. Using data, machine learning, and an obsessive focus on the customer, the company is personalizing healthcare for consumers.

CareAcademy makes senior care training more accessible through its mobile-first platform. If you’re a private caregiver, CareAcademy will provide classes based on your state’s training requirements. With suggested and customized programs, the company has certified thousands. 

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SoftBank Plans To Launch SPAC
Japanese investment conglomerate SoftBank is getting in on the special purpose acquisition company, or SPAC, bandwagon.
[Read more].
Roblox Files for Public Offering
Roblox has submitted a draft registration statement to go public. The number of shares of Class A common stock to be sold and the price range for the proposed offering have not yet been determined. [Read more].
Since last week, PrivCo has added:
3738 Companies | 131 Funding Activities | 129 M&A Deals

Funding & Deal Highlights:

Swedish lithium-ion battery maker Northvolt is raising $600 MM in fresh equity funds in a private placement joined by investors such as Goldman Sachs Merchant Banking Division, Volkswagen, Baillie Gifford, Norrsken VC, and Scania, as well as private backers such as Spotify founder Daniel Ek and Cristina Stenbeck.

BSPK, a Menlo Park, California-based digital platform for global luxury brands, raised $7 MM in an oversubscribed Series A round of funding to connect sales advisers and their clients in order to drive personalized sales and grab a larger piece of that growing market.

GrubMarket, which provides a B2C platform for consumers to order produces and other food and home items for delivery, and a B2B service where it supplies grocery stores, meal-kit companies, and other food-tech startups with products that they resell, is today announcing that it has raised $60 MM in a Series D round of funding.

Cooler Screens, the world's first and largest in-store digital media platform, announced the close of an over $80 MM Series C funding round from Verizon Ventures, Microsoft's venture fund M12, GreatPoint Ventures, and a number of other preeminent strategic and financial investors to drive company growth and national expansion. Silicon Valley Bank also participated in the round by providing debt financing.

CoreView, the market-leading Microsoft 365 management platform, announced it has closed a $10 MM Series B funding round led by Insight Partners. The Company will use the investment to further extend the company's leadership position within the SaaS management platform (SMP) market by investing in product innovation and expanding its global network of enterprise clients, international resellers, and managed service providers (MSPs). CoreView has already gained significant traction in the market, having increased year-over-year revenue by 173% in 2019, growing its total number of users under management to more than five million, and earned a Microsoft Gold Partner certification.

Chevron Corporation announced today that its acquisition of Noble Energy, Inc. has been completed following approval by Noble Energy shareholders.

Bristol Myers Squibb and MyoKardia, Inc. today announced a definitive merger agreement under which Bristol Myers Squibb will acquire MyoKardia for $13.1 BN, or $225.00 per share in cash. The transaction was unanimously approved by both the Bristol Myers Squibb and MyoKardia Boards of Directors and is anticipated to close during the fourth quarter of 2020.

Japan’s NEC Corp said on Monday it will buy Swiss financial software company Avaloq Group AG for 2.05 BN Swiss francs ($2.2 BN), a move that will spearhead its entry globally into finance software.

Quorum Software, a Thoma Bravo portfolio company and the leader in digital transformation for the oil and gas industry, acquired Landdox, a provider of cloud-first land technology solutions.

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