Health tech company DrDoctor has closed a £3 million Series A funding round from venture capital firms Ananda Impact Ventures and 24Haymarket.
The company said it will use the funding to hire across the business and add new functionality to DrDoctor’s patient communication platform, which it claims improves the way hospitals communicate with their patients, ensuring fewer missed appointments across the NHS, lower administrative costs for hospitals and clinics, and more timely and clinically effective care for patients.
DrDoctor added that new funding will help it to expand its remote patient management and data solutions, reducing face-to-face appointments and helping improve clinical risk stratification. Results from these products have shown a 40-60% reduction in face-to-face appointments.
DrDoctor is currently partnered with 27 NHS trusts and health boards across England and Wales and has increased its staffing complement by 43% since the beginning of the coronavirus pandemic, as hospitals and clinics across the country use new ways of communicating and treating their patients with hospital visits severely restricted. The company currently employs 60 staff and expects to add another 35 staff over the coming year as it expands its development and sales teams to meet the demand for its services.
During the pandemic DrDoctor said it offered its Covid-19 Toolkit free of charge to any NHS trust who wished to use it. The toolkit helped oversubscribed hospitals and clinics broadcast messages to their patients, ensuring appointments that had to be cancelled were rescheduled with minimal disruption. The company said it is now helping clients break the backlog in patient appointments – now estimated to be ten million across the NHS – by implementing recovery programmes built on remote assessments, patient-initiated follow-ups, and video consultations.
Ananda Impact Ventures and 24Haymarket are both early stage investors with a key focus on accelerating the growth of digital healthcare companies. It is the first investment for both firms in DrDoctor.
DrDoctor was founded in 2012 by Tom Whicher, Rinesh Amin and Perran Pengelly with an initial seed investment of £15,000 from Bethnal Green Ventures.
Whicher said: “The team at DrDoctor have never been busier as we work to help our NHS trusts break the backlog in care that has been created by the havoc of Covid-19. Having the backing of Ananda Impact Ventures and 24Haymarket will help us meet the tremendous demand that now exists for our services as care and patient communication goes digital. We are delighted to have their support.”
Date published: September 17, 2020