Senior living engagement technology firm iN2L has purchased LifeLoop in a move to unite platforms and offer a more integrated option for providers.
The sale, which closed on March 31, 2022, represents iN2L’s long-term strategy for continued growth with the goal of offering a comprehensive senior living technology solution. That strategy will include further mergers and acquisitions, according to CEO Lisa Taylor.
Denver-based iN2L was co-founded in 1992 by Leslie Sweeney and Silicon Valley veteran Jack York, growing from a mission to donate computers to assisted living communities and nursing homes in Southern California.
iN2l uses content to drive engagement and meaningful experiences among seniors. In the subsequent 30 years, iN2L has been involved with more than 3,700 senior living communities including assisted living, independent living, memory care and skilled nursing communities.
Vista Equity Partners announced a strategic investment in iN2L in March 2021, aimed at accelerating growth. Shortly after Vista invested in iN2L, the company announced the addition of two new executives – JB Snodgrass as CFO and Skip Hanson as COO.
LifeLoop offers senior living operators software solutions such as resident portals, resident tracking, transportation, photo sharing and calendar management – the kinds of things that improve efficiency and staff satisfaction, according to Taylor.
“From [our] perspective, do we develop those things and compete? Or do we look at it from an M&A perspective or a partnership perspective? ” Taylor told Senior Housing News.
Feedback from senior living operators spurs iN2L to find technology providers in senior living to unite services under one platform. During client outreach, operators voiced frustration about the number of tech vendors and a splintered marketplace.
More than 60% of senior living leaders who responded to an iN2L survey reported that they would prefer a single platform for resident engagement as well as administrative and operational functions.
“So part of our long-term strategy will be bringing these technology platforms together to offer the most comprehensive platform for resident engagement and experience,” said Taylor.
iN2L prioritizes technology companies with features and functionality that can solve a client’s immediate problem, and are “willing to pay to solve [that problem] within 12 months, ”Taylor said.
The new combined firm will undergo market research for branding while the addition brings the total number of employees at iN2l / LifeLoop to nearly 150, according to Taylor.
Not only was every employee retained, but the company is also looking to fill open positions.