1Konnection, a matchmaking platform to facilitate senior living and care deals, recently named a former Amazon Business executive to its leadership as the company prepares to expand its reach and offerings.
“In the next few months — the next few quarters — we’re releasing a lot of new technology that is going to change the way that deals happen for the better,” 1Konnection Founder Yoni Kirschner told Senior Housing News. “It’s going to empower the users to get more deals done on all fronts.”
Kirschner sees 1Konnection — which launched in 2021 — as a matchmaking service for any company in the senior living industry that is looking to make a deal – whether that be a vendor seeking clients or an operator looking to sell a community.
Since launching in 2021, 1Konnection has accrued more than 6,000 users and facilitated more than $2 billion in transactions, according to Kirschner.
Potential buyers, sellers or brokers can register for the 1Konnection platform and enter information about properties they are selling or investment specs they are pursuing.
The platform uses data analytics, predictive analytics and algorithms to customize results for the owners, operators and vendors, creating potential matches.
Viewing the platform is completely free to all users, but 1Konnection takes a cut of all transactions based on the size of the transaction, according to Kirschner, who added that “for acquisition opportunities, buyers pay up to 1%.”
There are similarities with how Amazon works for consumers.
In August, the company named Amazon Business alum Denisse Martinez Sierra to the position of vice president of business development. Her mission will be to lead growth by driving subscription sales to the platform.
“She’s a superstar,” said Kirschner. He added that the two had previously worked together at CVS Health and developed a rapport. Now, Martinez Sierra’s experience at Amazon will be put to use immediately.
”[Amazon] empowers their buyers and sellers through creating an online network – that’s our goal,” Kirschner said.
For Kirschner, the volume of business generated through the dealmaking platform indicated that the company’s hypothesis was correct; the senior living industry had a hankering for a product like this one.
“The industry as a whole is antiquated, offline and [reliant upon] word-of-mouth marketing,” he said.
Kirschner now hopes to capitalize on the newcomers coming into the senior living industry by creating a way for the innovators to gain traction for their ideas and offerings.
“You have so many products, so many services, so many smart people out there that can’t get their opportunities or their businesses in front of the right people,” Kirschner said. “Our industry should have access to the resources they need at the time they need them.”
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