Independa Closes Initial Series B Round of $2.25 Million

San Diego, CA – October 9, 2013 – Independa, Inc., the leader in resident-facing care solutions for the senior market, announced today that it has secured its initial close of $1.85 million of its $2.25 million Series B Financing round, in order to continue with the market growth of its award-winning integrated CloudCare solutions. The latest round was led by City Hill Ventures, a San Diego-based life sciences and healthcare venture capital firm.

Independa pioneered the integrated cloud-based approach to deliver remote care models that address the needs of stakeholders across the senior care continuum. Independa’s growth and market success have been driven by the ability of its unique solutions to meet the increased demand to help older adults live independently longer, safer, more comfortably – all through innovative yet easy to deploy and use remote care solutions.

“As demonstrated by its remarkable growth and innovation, Independa clearly leads the market in the development and delivery of its remote care platform,” says Jonathan Lim, M.D., Managing Partner and Founder of City Hill Ventures. “City Hill’s investment enables Independa to capitalize on the global demand for its solutions, and accelerate the company’s pace of innovation.” 

Independa will use the additional financing to continue expanding its reach on both a national and global basis, accelerate product growth and innovation, invest in additional sales and marketing resources, and continue engaging with strategic partnership opportunities.

“Independa and our partners strive to be life changing for our users, and game changing for the organizations who care for the elderly,” says Kian Saneii, CEO of Independa. “This capital gives us additional resources to expand quickly and strategically into new markets, continue with our unique and award winning innovations, and meet the rapidly growing demand for our integrated and cost-effective approach to delivering remote care solutions and benefits.”

"The senior care technology market needs success stories like Independa, which has demonstrated innovation and business acumen -along with market growth and financial strength, “ says Laurie Orlov, Industry Analyst, Aging In Place Technology Watch.  “A successful Series B round is an all too rare milestone for a technology company in this emerging space. It’s great to see Independa playing a leadership role in this high growth and important market segment."

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About Independa, Inc.

Independa offers leading technology enabled independent living solutions for the elderly. Independa’s Integrated CloudCare services enable organizations and individuals to cost-effectively help the elderly remain independent longer, safer and more comfortably. The company, along with its strategic global technology partner LG Electronics USA, provides a suite of award winning solutions, including comprehensive social engagement benefits, medication and appointment reminders, support for activities of daily living, and wireless health, remote monitoring and safety solutions. Care recipients enjoy these benefits through a standard telephone, as well as through Independa Angela running on a TV or tablet.

About City Hill Ventures, LLC

City Hill Ventures is a health care focused investment firm whose mission is to restore human health through innovation, by building or helping other health care entrepreneurs build great companies that collectively have a transformative impact on patients, the health care industry, and society.

Web: https://independa.com/           

Twitter: https://twitter.com/independa

Facebook: https://www.facebook.com/Independa

LinkedIn: http://www.linkedin.com/company/864684

Contact

Deborah Jondall

Independa, Inc.

San Diego, CA 92130

djondall@independa.com

800.815.7829