Further Secures Growth Investment to Revolutionize Sales and Marketing for Senior Living Operators
Financing enables further to drive increased lead conversions, sales efficiency, and occupancy rates for senior living operators through advanced ai-powered solutions
New York, NY—October 8, 2024 – Further, the leading provider of AI-powered sales and marketing tools for Senior Living operators, today announced that it has secured a significant growth equity round, led by Silversmith Capital Partners, a $3.3 billion growth equity firm with deep expertise in software for healthcare verticals.
Founded in 2019, Further pioneered the use of AI and data in Senior Living sales and marketing with the introduction of the industry’s first Virtual Sales Assistant. Since then, Further has delivered dozens of new features and implemented thousands of data-driven optimizations—making it the first AI Sales & Marketing platform built specifically for Senior Living.
Further currently supports over 5,500 Senior Living communities, helping generate $5.2 billion in revenue by converting digital interest into increased occupancy and NOI through omni-channel marketing engagement, AI-powered sales productivity tools, and real-time performance and competitive insights.
Further will use the funding to enhance its AI capabilities, enabling Senior Living operators to convert more leads, increase sales productivity, and make smarter decisions using real-time performance and competitive insights. The company plans to double the size of its product and engineering team, ensuring customers continue to receive best-in-class support and innovation, and invest deeply in Customer Success to deliver white-glove onboarding and support to its rapidly growing customer base.
"As Senior Living communities experience increased demand driven by an aging population and the rise in digital engagement, operators have been searching for a way to deliver the personalized, dynamic experiences today’s prospects expect," said Wes Fuller, CEO and Co-founder of Further. "This investment will enable us to continue pushing the boundaries of what’s possible with AI, helping our customers generate more move-ins while making data-driven decisions about pricing, marketing, and resource allocation."
According to a recent study, there are 6,000 online searches related to Senior Living every hour, and nearly 82% of smartphone users consult their phones when making purchasing decisions. Meanwhile, marketing budgets have increased by 24% over the past decade, with half of Senior Living operators planning to increase their digital marketing spending over the next 12 months.
Further’s AI-powered tools are specifically designed to help operators navigate these challenges by converting online interest into actual move-ins, optimizing the entire buyer journey from the first web visit through to move-in.
"Traditional Marketing Automation and Conversion Rate Optimization systems weren’t built for Senior Living. Further is specifically optimized for this industry, using AI models built from over 250 million prospect engagements to deliver personalized experiences that drive results," said James Johnson, Chief Product Officer and Co-founder at Further. "Our platform has already helped generate $5.2 billion in revenue for our customers and that number is accelerating year-over-year."
"At Silversmith, we are proud to support those who are transforming care for families. We are thrilled to partner with Further at this pivotal moment in the Senior Living industry,” said Jeff Crisan, Managing Partner at Silversmith Capital Partners. "Senior living plays a vital role in the nation's care infrastructure. With rising demand and evolving consumer expectations, we believe Further's AI-driven solutions, combined with the exceptional leadership of Wes, James, and their talented team, are uniquely positioned to empower operators to succeed in this dynamic environment."
This funding round marks a significant milestone for Further as the company continues to shape the future of sales and marketing for Senior Living operators, providing them with the tools they need to succeed in an increasingly digital landscape.
About Further
Founded in 2019, Further is the leader in AI-powered sales and marketing tools for Senior Living operators. Further’s platform helps operators increase occupancy and streamline operations through AI-driven conversion optimization, sales productivity tools, and data-powered insights. With over 5,500 Senior Living communities using Further’s technology, the company has helped generate over $5.2 billion in revenue and improved the search experience for millions of senior living website visitors. Learn more at www.talkfurther.com.
About Silversmith Capital Partners
Founded in 2015, Silversmith Capital Partners is a Boston-based growth equity firm with $3.3 billion of capital under management. Silversmith’s mission is to partner with and support the best entrepreneurs in growing, profitable technology and healthcare companies. Representative healthcare and marketing technology investments include ActiveCampaign, impact.com, Impel, Iodine Software, LifeStance Health, Market Access Transformation, MediQuant, Nordic Consulting, Panalgo and Upperline Health. For more information, including a full list of portfolio investments, visit silversmith.com or follow the firm on LinkedIn.
Media Contact:
Aaron Kaffen
VP of Marketing
Further
