Posted Oct. 25, 2016 at 7:34 a.m.
K4Connect lands $8M investment from Intel
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It’s no secret that Scott Moody and Jonathan Gould are on a mission with their team at K4Connect. On Monday, the duo made good on their plans to secure institutional capital and strategic partnerships to rapidly scale their connected home venture.
Intel Capital announced an $8 million Series A investment in the Raleigh-based company during Intel’s annual summit. The resources and partnerships aim to accelerate development of K4Connect’s technology that helps adults live independently. Moody says their integration of hardware and software enables more efficient and effective home automation, in-home healthcare and connectivity while offering senior community staff a dashboard to monitor their residents’ well being.
The company’s newest investors say the partnership allows for expanded possibilities for how people apply technology in daily life.
“Bringing smarter connections and innovative technologies to new places and underserved users aligns with Intel’s vision for the future of how we live and work across all sectors,” says Doug Davis, senior vice president and general manager of the Internet of Things (IoT) Group at Intel Corporation.
K4Connect is poised to serve adults with disabilities and customers whose patterns of daily living are changed by the dramatic demographic shift as Baby Boomers age. K4Community, their first product, centralizes software such as messaging and video chat with connected home hardware like thermostats, lighting, and smoke detectors while compiling data to predict illness.
“There are close to 1.5 billion older adults and people living with disabilities in the world today, a market segment expected to grow to nearly 28 percent of the world’s population by 2050,” said Moody, co-founder and CEO of K4Connect. “That’s an enormous segment of society currently underserved by technology. Our solutions, of which K4Community is just the first, empower those we serve to live simpler, healthier and happier lives.”
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