Australian startup application Tapestry, which is targeted at senior citizens, has acquired California-based ConnectAround, a social network designed for active living retirement communities. The deal has taken place at an undisclosed amount.
Post the acquisition, ConnectAround Co-Founder Marcie Rogo, will assume the role of Head of Operations for Tapestry in the US.
Andrew Dowling, CEO, Tapestry said, “Integration with ConnectAround will allow us to benefit from its unique understanding of retirement community needs, as well as provide a platform for Tapestry’s ongoing expansion into the US market.”
With the acquisition, Tapestry expands from private senior users into the aged care sector, and gets a wider scope in the US market. At the same time, ConnectAround will get the opportunity to leverage Tapestry’s app offerings.
Read Also: With Asia expansion in mind PayTouch scouts for US$1.4M funding
“This acquisition not only provides a massive step up for our offering into active adult living communities in the US, but also the rapidly growing 55+ market more broadly,” added Dowling.
ConnectAround was founded in 2011 as the first private social network connecting residents of active retirement living communities, with a well established user base in Los Angeles, San Francisco and the Bay Area.
“Tapestry and ConnectAround are clearly aligned in our goals; we are both committed to providing seniors with user-friendly technology that helps them stay in touch with their community, and to reducing the feelings of isolation and loneliness that have become all too common in this generation,” shared Rogo of ConnectAround.
Tapestry’s availability on iOS and Android phones and tablets provides ConnectAround high visibility. “I truly believe our combined assets will ensure Tapestry is wildly successful in the US and global enterprise markets,” added Rogo.
Featured and Lead Image Courtesy: Tapestry.net