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Analysis of investment in the telecare sector. Mangrove Capital Partners invests in SAFE365


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Integral service around a transaction
BY : Diego GutiérrezOctober Wed, 2018

We analyse from a corporate finance point of view the latest round of financing for Safe365, a company dedicated to the management of a telecare app for the elderly.

SAFE365, the first free mobile telecare application for elderly people

Safe365 was started in 2012 by Guillem Viladomat, CEO of the company, under the name Alpify. Even though today the company is dedicated to the management of a care app moreIn the past, this application was designed to improve the safety of people practising risky sports, such as skiers and hikers.

In recent years, the service provided has evolved from family welfare to finally specialising in the care of the elderly.

Currently, Safe365 is the first free mobile telecare application for the elderly. The number of users is growing extremely fast and currently has 100,000 active users. This app offers the possibility of knowing at all times what the situation of their relatives is thanks to geolocation. Customers feel safer by being able to check the daily routines of their loved ones and it makes them feel closer to them.

 

A world-leading investor, Mangrove Capital Partners

Mangrove Capital Partners was founded in 2000 by Mark Tluszscz, the company's current CEO, and has as its core business aim to invest in early stage technology startups from around the world.. They have raised more than a billion euros in investment funds that have been used to boost the industry.

It has made successful investments such as Wix and Skype at the international level, and RedPoints, Wallapop and Badi at the national level. In its latest operation, Mangrove has invested in Safe365 with an eye on the over-65 population.

The investment is backed by a demographic driver, as the population of the over-65s is set to increase significantly over the next 30 years and, for the first time in history, the elderly will be the largest age group in the world. This is according to Mangrove's study, 'Silver Tech: Emerging Opportunities in the Third Age Economy'. In addition, there is a growing shortage of skilled caregivers and smartphone usage in the 55+ population now exceeds 75%.

International industry figures

The following are the largest investments in the video surveillance and elderly care sector. We highlight the 8.5 million $ investment made by the Living Independently Group in 2008 and the three investments made by the French start-up Janasense in 2017.

CompanyCountryDescription Total amount of investmentDate of the last round
RipcordUnited StatesRipcord is a robotic digitisation company that creates robots to digitise records and make them accessible anytime, anywhere.$65M21/11/2017
EnvoyUnited StatesAt Envoy they develop software that enables a world where technology is seamlessly woven into the workplace and where smart tools lessen the workload.$59,2M23/10/2018
SoftomotiveUnited KingdomSoftomotive is a software company that provides robotic process automation technology for organisational development.$25M28/09/2018
NeigouChinaNeigou.com is a platform for operational services and an IT solution that facilitates processes for workers.$14M02/06/2017

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