Resource Center / Seniorly News / Seniorly Raises $6.5M from Formation Capital Press Release

Seniorly Raises $6.5M from Formation Capital Press Release

Learn about this important announcement. Seniorly is excited to partner with Formation Capital to accelerate hiring, product development, and growth initiatives.

By Stephen Anderson · Updated Jan 20, 2023
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San Francisco, CA, October 28, 2021 — As senior living occupancy continues its slow recovery from all-time lows, industry leader Arnold Whitman and his firm Formation Capital are betting on Seniorly’s platform and leading its $6.5M Series A. 

San Francisco-based Seniorly has been quietly building its platform that is now used by more than 4.5 million people searching for senior living every year. The company became profitable during the pandemic, doubled its team size, and has grown 3x in the last 12 months. Atlanta-based Formation Capital has been investing in the senior housing and care sector since its founding in 1999. The firm currently manages $2.9 billion in assets. They recently announced an investment strategy focused on creating new models of senior living and services. 

Formation Executive Chairman Arnold Whitman has a history of taking contrarian views in senior living, and this investment is no different. While many operators have contentious relationships with other third party customer acquisition engines in the space, Whitman sees a major difference in Seniorly’s roadmap: “With several new growth initiatives around occupancy and technology drivers, we see both value creation in the company as well as in future real estate assets. Seniorly is the only company focusing on user experience and better alignment of all stakeholder interests.”

Seniorly will use the new funding to accelerate hiring, product development, and go-to-market plans with new growth initiatives. Arthur Bretschneider, Seniorly’s CEO and cofounder, says the company spent the last few years building its foundation and is now entering a new phase of growth. “Over the next few months we will be making some major announcements on initiatives we’ve been working on for several months. We couldn’t have asked for a better partner than Arnie and the Formation team.”

About Seniorly

Seniorly helps families and older adults find the right senior living for their needs and budget. Combining the power of its advanced technology with the high-touch support of a national network of local advisors, Seniorly is modernizing senior living discovery. Through its online platform, Seniorly provides access to thousands of senior living communities, expert insights, and personalized recommendations based search preferences. Seniorly also has a growing marketplace of trusted companies, offering other services and products that are helpful to families at this stage of life. Founded in 2014, Seniorly currently supports over 4.5 million visitors every year on their senior living journey. Visit www.seniorly.com or LinkedIn for more information.

About Formation Capital

For over two decades, Formation Capital has been a leading investor in senior healthcare, sponsoring approximately $2.0 billion of equity in 22 investments across skilled nursing, senior housing, behavioral health, hospice and related ancillary services. We have delivered attractive returns across economic cycles by developing innovative, custom capital solutions to address the complexity and specialized nature of senior healthcare. Headquartered in Atlanta, Formation Capital currently manages private funds totaling $2.9 billion of assets under management. The firm is an SEC-registered investment adviser with fund management and administration services.

For more information on Seniorly, please contact Stephen Anderson at stephen@seniorly.com or 510-467-0034. 

For more information on Formation Capital, please contact Nela Powell at npowell@formationcapital.com or 770-754-9660.

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written by:
Stephen Anderson

Stephen Anderson

Stephen has been a digital marketing, sales, and operations leader. A strategist at heart, he has built high performing solutions for brands large and small across challenging industries such as Insurance, Travel, and Personal Finance. As Seniorly's Chief Strategy Officer, Stephen draws on this experience to help families and senior living communities connect with the best possible outcomes. Originally from the north east, Stephen enjoys playing on the mountains and beaches of California with his wife, son and daughter.

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