In what could be the latest indication of how video content is playing a larger role than ever in senior living, OneDay has raised a substantial amount of capital to fuel its next stage of growth.
The Dallas-based startup on Thursday announced a $19 million Series B funding round, which will be used to facilitate key hires, market expansion and continued investment in its platform.
OneDay, a software as a service (SaaS) platform that creates branded video content to increase resident engagement, saw substantial growth over the past 18 months, as senior housing communities adopted the platform as a way to connect residents who were restricted to their communities and their families throughout the pandemic.
Nearly 2,000 senior living communities were using OneDay at Covid-19’s onset in March 2020. By June 2020, that number doubled, and communities using the technology created over 100,000 videos in that span, Co-Founder and CEO Clint Lee told Senior Housing News at the time.
OneDay was able to absorb that growth, courtesy of a $5.2 million Series A funding round that closed in December 2019. The company also has expanded into other sectors, including multifamily housing and funeral homes.
Funding for the latest round was led by Volition Capital, a Boston-based growth-equity firm that invests in high-growth startups across the software, internet and consumer sectors. On July 22, Volition also announced a $25 million investment in telehealth platform Qure4U.
Silverton Partners, which led OneDay’s Series A funding round, also participated in the Series B fundraising. To date, OneDay has raised over $25 million.
In June, OneDay introduced a revamped platform, OneDay for Senior Living 4.0. The service includes extensive videos and templates for sales and marketing, resident stories, and human resources; streamlined notifications for sales and marketing teams to connect faster with new leads; instant two-way messaging; and secure account management when staffing needs change.