HealthTech app Locum’s Nest has bagged £3m in funding from Albion Capital, taking total raised to £4.1m.
The start-up is also backed by IDO Investments, an innovation firm based in Oman.
The app, which was created by two former NHS doctors, helps doctors find temporary locum work in hospitals while also cutting out middlemen for teams hunting for staff.
Locum’s Nest app was co-created by former NHS doctors Nicholas Andreou and Ahmed Shahrabani, and instead charges a small one-off admin fee per shift that is filled.
The pair believed hospitals were ‘held over a barrel’ by recruitment agencies when looking for doctors, and created the app to streamline the process.
“We are truly delighted that Albion Capital and IDO have combined to invest in the next stage of our growth,” said co-founder Nicholas Andreou.
“Albion Capital understands digital health and how healthcare can be transformed through technologies such as ours. They realised the huge potential of Locum’s Nest when supporting us with start-up funding in June last year.”
To date, Locum’s Nest has successful placed over 40,000 doctors in shifts across 15 NHS Hospitals and nearly 100 GP Practices.
Will Fraser-Allen, deputy managing partner at Albion Capital, said: “Locum’s Nest is a clear demonstration of how the NHS can use technology to drive performance improvement by disrupting the expensive locum recruitment agency model and generating considerable savings for the Exchequer.
“The Locum’s Nest team has achieved a great deal in a short timeframe and we are proud to support the business with additional funding. We look forward to working with them to deliver their growth strategy.”