Press Release

Welbi brings total funding to $6 million to fuel expansion into long term care

July 13, 2022

July 13th, 2022 - Ottawa, ON - Welbi Technologies Inc. is elated to announce a seed round that brings their total funding to $6 million to fuel further expansion into senior living communities across Canada and the United States. As the pioneer of person-centred resident experience software, this new funding milestone represents the latest achievement in Welbi’s mission to transform the lives of older adults through personalised experiences.

In 2020, while mainly servicing the retirement home market and facing uncertainty brought about by COVID-19, Welbi made the bold decision to expand their services into the long term care market. Hundreds of happy communities and tens of thousands of lives impacted later, the team knows they made the right decision as they achieved an extensive growth since the beginning of the pandemic.

The highlight of this rapid growth is without doubt the signing of multiple recognized industry leaders, including Responsive Group Inc., which decided to implement Welbi at all of their long term care communities after a pilot project resulted in significant returns in their mission to empower staff and bring person-centred experiences to all their residents.

“Senior living is undergoing a rapid shift away from ‘one-size-fits-all’ experiences towards a future where the best communities offer experiences that are personalised and specific to each of us,” said Lance Laking, Managing Director and General Partner at Graphite Ventures. “We’re excited to continue supporting Welbi as they create a world where older adults are able to receive the person-centred experiences they deserve.”

This is only the beginning for Welbi, with founder and CEO Elizabeth Audette-Bourdeau already thinking about what’s next for the rapidly growing company.

“We knew that there was this incredible opportunity to change the lives of millions of older adults by bringing Welbi to long term care communities, and I could not be more proud of our team and our partners for making this dream possible. With this funding from Graphite Ventures, MaRS IAF, SoGal Ventures, Roach Capital and others, I’m looking forward to growing our exceptional team and making Welbi the gold standard for resident experience across North America.”

As part of the new funding, Welbi is also adding two new members to its board of directors, who will help guide the growing company through this expansion in the senior care market. “It will be incredible having the leadership and experience of our new board members guide us as we continue to push the boundaries of what residents can expect from retirement and long term care communities,”says Audette-Bourdeau.

What’s next for Welbi? With ambitious goals for the rest of 2022 and 2023, the company is aiming to double their team with a focus on business development after years with laser-focus on building a unique and much-needed product.

“We know it’s time to bring Welbi to the front of the industry’s priority list. Not only is this the perfect timing with the trend towards person-centred initiatives in senior living, but our focus on ensuring our product fits the needs of the staff, the residents and their families over the past 6 years has already shown that we can have a significant impact in our loved ones’ lives. And this is just the beginning,” says Director of Operations Gabriel Rubio. “This time next year, we expect Welbi to not just be in the conversation, but at the forefront of every retirement and long term care operator’s initiatives.”

About Welbi

Welbi helps senior living communities deliver exceptional and unique life experiences with our state-of-the-art recreational platform. Our award-winning, user-friendly software automates hundreds of hours of administrative tasks while helping recreation teams gain a deep and holistic understanding of their residents, increasing quality of life and occupancy rates. For more information, visit welbi.co.

Media Contacts

Terrence Wang

Head of Marketing, Welbi

Phone: 613-777-2725

terrence@welbi.co

July 6th, 2022 - Ottawa, ON - Welbi Technologies Inc. is elated to announce a seed round that brings their total funding to $6 million to fuel further expansion into senior living communities across Canada and the United States. As the pioneer of person-centred resident experience software, this new funding milestone represents the latest achievement in Welbi’s mission to transform the lives of older adults through personalised experiences.

In 2020, while mainly servicing the retirement home market and facing uncertainty brought about by COVID-19, Welbi made the bold decision to expand their services into the long term care market. Hundreds of happy communities and tens of thousands of lives impacted later, the team knows they made the right decision as they achieved an extensive growth since the beginning of the pandemic.

The highlight of this rapid growth is without doubt the signing of multiple recognized industry leaders, including Responsive Group Inc., which decided to implement Welbi at all of their long term care communities after a pilot project resulted in significant returns in their mission to empower staff and bring person-centred experiences to all their residents.

“Senior living is undergoing a rapid shift away from ‘one-size-fits-all’ experiences towards a future where the best communities offer experiences that are personalised and specific to each of us,” said Lance Laking, Managing Director and General Partner at Graphite Ventures. “We’re excited to continue supporting Welbi as they create a world where older adults are able to receive the person-centred experiences they deserve.”

This is only the beginning for Welbi, with founder and CEO Elizabeth Audette-Bourdeau already thinking about what’s next for the rapidly growing company.

“We knew that there was this incredible opportunity to change the lives of millions of older adults by bringing Welbi to long term care communities, and I could not be more proud of our team and our partners for making this dream possible. With this funding from Graphite Ventures, MaRS IAF, SoGal Ventures, Roach Capital, Sweet Spot Capital and others, I’m looking forward to growing our exceptional team and making Welbi the gold standard for resident experience across North America.”

As part of the new funding, Welbi is also adding two new members to its board of directors, who will help guide the growing company through this expansion in the senior care market. “It will be incredible having the leadership and experience of our new board members guide us as we continue to push the boundaries of what residents can expect from retirement and long term care communities,”says Audette-Bourdeau.

What’s next for Welbi? With ambitious goals for the rest of 2022 and 2023, the company is aiming to double their team with a focus on business development after years with laser-focus on building a unique and much-needed product.

“We know it’s time to bring Welbi to the front of the industry’s priority list. Not only is this the perfect timing with the trend towards person-centred initiatives in senior living, but our focus on ensuring our product fits the needs of the staff, the residents and their families over the past 6 years has already shown that we can have a significant impact in our loved ones’ lives. And this is just the beginning,” says Director of Operations Gabriel Rubio. “This time next year, we expect Welbi to not just be in the conversation, but at the forefront of every retirement and long term care operator’s initiatives.”

About Welbi

Welbi helps senior living communities deliver exceptional and unique life experiences with our state-of-the-art recreational platform. Our award-winning, user-friendly software automates hundreds of hours of administrative tasks while helping recreation teams gain a deep and holistic understanding of their residents, increasing quality of life and occupancy rates. For more information, visit welbi.co.

Media Contacts

Terrence Wang

Head of Marketing, Welbi

Phone: 613-777-2725

terrence@welbi.co

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