Cavalry x Patronus
We are delighted to finally announce that Patronus has joined our portfolio. Patronus aims to bring healthcare for older people into the 21st century through a suite of digital tools, and we are excited to support them on this journey.
Elderly care is still stuck in the 70s
In fact, the processes and tools in eldercare have hardly changed in the last 50 years. This is astonishing, as seniors and their caregivers have changed significantly, have different demands and also differ in their ability to use tech products. In addition, the health system is facing new challenges due to demographic change. In Germany, the over-65s are already the fastest-growing group, whose share of the total population will rise to 30% in the next 10 years. In the US, the same age group will grow by more than 20 million people by 2030. This poses major challenges to the health systems of both countries.
Digital companions for seniors and the relief of the health care system
Patronus uses a research-based approach to identify the most pressing challenges faced by different stakeholders. The company’s initial product already addresses one of the biggest fears of older people: getting into an emergency situation and not being able to call for help. The emergency call software for smartwatches specially developed by Patronus, which works 24/7 regardless of location, helps with this. Since its market launch, Patronus has already won over thousands of users who use the product on a daily basis.
Towards collaborative software for older people’s wellbeing
The next step is to involve other stakeholders — first and foremost the family members. In the future, caregivers will be able to access relevant information from the Patronus watch via the app, such as emergencies, geofencing alerts and activity confirmations. They can also talk to elderly users directly via the watch. The aim of the app is to provide peace of mind for caregivers who cannot be with the elderly 24/7. It will also facilitate daily tasks such as configuring reminders to take medication and coordinating tasks with other caregivers such as professional caregivers, inpatient nursing homes, physiotherapists and doctors.
Steep growth and positive customer feedback right from the start
Patronus’ vision is to develop collaborative software through which all stakeholders can work and interact with each other. The user feedback demonstrates that they are on the right track. Patronus has grown to more than €1m in ARR just 11 months after launching its first product. The subscription model is based on the basic needs of the user group and is therefore not vulnerable to economic cycles. In the last six months, Patronus has tripled its user base and expanded the team at all levels. The current focus is on expanding the product scope, further scaling and expanding the B2B distribution network.
Alessandra Mazzilli from Cavalry briefly sat down with Tim Wagner from Patronus to dive deeper into the current challenges in the elderly care space and Patronus’ vision — enjoy!