AI-powered HealthTech firm Current Health raises £9m
AI-powered HealthTech firm Current Health has secured £9m in Series A funding.
The patient management platform uses wearable tech and data to track patients’ health, and applies artificial intelligence to detect illness and alert providers to high-risk patients.
Thirteen of the largest healthcare systems in the US and UK use the firm’s technology to manage patient care.
The firm, previously known as snap40, reported a 300 per cent revenue growth and a doubled employee count in the past 12 months.
The new capital will be used to scale up the firm’s platform, with the goal of preventing illness for one million patients around the world by 2021.
“We’ve spent the last three years quietly and carefully building and testing our platform directly with healthcare providers,” said Chris McCann, Founder and CEO of Current Health.
“Now with our platform FDA-cleared and through partnerships with some of the biggest healthcare providers and pharmaceutical companies in the world, we plan to scale our solution to better treat millions of lives over the next five years.
The investment was led by MMC Ventures with participation from Par Equity, Scottish Enterprise’s Scottish Investment Bank, and Legal & General.
The Edinburgh-based firm’s latest investment follows an $8m Seed round in July 2018.
“Healthcare is undergoing a paradigm shift from reactive, in-hospital treatment to proactive, community-based care,” said Bruce Macfarlane, managing partner at MMC Ventures.
“Current Health has the right fundamentals to execute on a vast opportunity and become a global category leader in this important market.”