Growth Catalyst Partners has teamed up with Greg Mason, a digital media and tech executive, to form SilverAssist, a senior assistance platform. No financial terms were disclosed.
New York, NY June 1, 2022 – Growth Catalyst Partners (“GCP”) has joined forces with seasoned digital media and technology executive, Greg Mason, to announce the formation of SilverAssist, a comprehensive senior assistance platform incorporating market-leading information, tech-enabled services, and lead generation serving the Elder Care Market.
The foundation of SilverAssist is built off the combination of three strategic acquisitions: Elderlife Financial Services, a financial concierge service helping identify the best way to pay for senior living; Care Changes, a complementary advisory service helping families find senior communities and customized care; and FamilyAssets, an information platform providing education, resources and community listings to help match families with senior living options. Through these foundational acquisitions, SilverAssist launches with 150+ corporate community relationships, spanning 7,000+ communities, and communicates directly with thousands of families every month to provide personalized solutions and make valuable connections on behalf of community partners.
There is a dire need in the US for more senior resources, services and facilities. Senior Housing News reports there are over 6,000 online searches relating to senior care made every hour in the US and this number is expected to continue to grow. According to the United States Census Bureau, in 2012 the US had 43.1 million adults aged 65 and older, and by 2050, this number is expected to almost double to 83.7 million adults. SilverAssist addresses a massive market opportunity, created by the aging baby boom generation and increased life expectancy, sitting at the critical intersection of several secular trends in senior care, information technology and healthcare.
GCP has partnered with Greg Mason to lead the formation, development and growth of SilverAssist. Greg brings extensive experience as a digital brand builder and operator. The common thread in his career has been the development of service-based brand portfolios that combine high value information, data, and services to help consumers solve problems and create fluid connections to products and service providers. Greg held senior leadership roles at CNET, CBSInteractive, WebMD, and Purch, the latter a leading content+commerce publisher he developed and led as CEO until its sale to FuturePLC.
“At this stage of my career, it’s very gratifying to be in the position to help the elderly and their families answer all the difficult questions that come with the later innings of life. I’m also very fortunate to have formed a stellar team of elder care industry and digital technology experts to build and unify our portfolio of brands and services,” said Greg Mason. “We’re all continually surprised how fragmented, disjointed, and low-tech the current experience is for consumers to find high-quality information and services, and believe there is significant room for innovation and a vastly improved consumer experience.”
“Our team has done extensive research into the growing eldercare market and pinpointed a significant market gap that SilverAssist will address,” said James Nally, Managing Director of Growth Catalyst Partners. “We are thrilled to partner with a seasoned leadership team who has already shown immense passion and dedication to our vision and roadmap which is filled with acquisitions and organic growth plans.”
This formation comes on the heels of several recent announcements from GCP in which they are currently investing out of their $270 million GCP II fund. GCP has acquired 11 companies across four platform companies in GCP II.
SilverAssist is a comprehensive senior assistance platform, connecting seniors and their families with trustworthy information, expert guidance, and quality services to simplify senior life. Composed of three major portfolios, SilverAssist offers insights and complementary advisory services into home care, senior communities and financing options to empower families to provide the best care for their loved ones.