London’s DrDoctor secures £3m to expand patient platform
Posted on September 16, 2020 by Alistair Hardaker
HealthTech firm DrDoctor has raised £3m in Series A investment from venture capital firms Ananda Impact Ventures and 24Haymarket.
The new capital will be used to hire across the business and add new functionality to DrDoctor’s patient communication platform, which is designed to update the way hospitals communicate with their patients.
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.
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 swelling demand for its services.
During the pandemic DrDoctor offered its Covid-19 Toolkit free of charge to NHS Trusts.
The firm said its toolkit helped oversubscribed hospitals and clinics broadcast messages to their patients, ensuring appointments that had to be cancelled were rescheduled with minimal disruption.
The firm, which developed its video consultation service in just eight weeks during the pandemic, said it is now focussed on easing an estimated ten million backlogged appointments across the NHS via recovery programmes built on remote assessments, patient-initiated follow-ups, and video consultations.
The investment will also allow DrDoctor 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 while maintaining or improving clinical standards and providing more convenient services for patients, the firm said.
The firm was founded in 2012 by Tom Whicher, Rinesh Amin and Perran Pengelly – all of whom remain in senior positions at the business – with an initial seed investment of £15,000 from Bethnal Green Ventures.
The company had eschewed further outside investment until today’s announcement, as the business’ organic revenue growth made outside investment unnecessary.
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.”