Kevala, which emerged from Pioneer Square Labs in 2020, secured $4 million in funding in January 2021 and an additional $12.1 million in February 2022. The company’s CEO, Todd Owens, boasts an impressive background, having previously led successful ventures such as TalentWise, Appuri, and Azuqua, all of which were acquired by prominent industry players.
Residex’s acquisition of Kevala is expected to fortify the company’s presence in the senior care technology sector by integrating workforce optimization capabilities into its platform. While Residex focuses on managing resident health records, medication administration, care planning, assessments, and clinical documentation, Kevala’s Quin software enables healthcare facilities to efficiently schedule workers, manage the labor pool, and monitor caregiver credentials.
Todd Owens expressed enthusiasm about the acquisition, emphasizing the potential for combining Quin’s workforce intelligence with Residex’s clinical expertise to enhance residents’ quality of life. Reflecting on Kevala’s journey, Owens highlighted the challenges faced over the past five years, including the impact of COVID-19, fluctuations in the healthcare labor market, and the growing demand for AI and automation in improving care delivery.
As of April this year, Kevala boasted a team of 28 employees and had raised a total of $21 million in funding. The acquisition marks a significant milestone for both companies, paving the way for innovative solutions in the senior care technology landscape.
Related:
- Tech Vets: Kevala CEO Todd Owens leads startup much like he navigated his role on Navy submarine
- Kevala lands $12.1M to address worker shortages for healthcare companies
