Visionable, a video collaboration platform designed for the healthcare sector, has raised £6m in an oversubscribed Series A1 funding round.
The private placement, completed within 24 hours, was led by West Hill Capital.
The firm plans to upscale its operations by increasing its headcount to 60 by the end of June, up from 14 employees in May of last year.
It will also accelerate research and development, and focus on international expansion.
In the four weeks since lockdown was announced Visionable reports it increased video conferencing hours by 1,607%, facilitated 4,200 hours of patient consultations and onboarded 16,000 NHS staff in using the video streaming technology.
From Q4 2019 to Q1 2020, revenues at the company increased 6.5 times.
Alan Lowe, CEO & Co-Founder of Visionable explained the surge.
“Healthcare systems globally are having to adapt to new ways of providing the quality care and services their patients need and in ensuring that access to medical care is equitable.
“Our technology saves clinician’s and patient’s time, while bridging skills gaps and distances by allowing consultations to take place on a secure online setting. Entire medical teams can review cases together via Visionable with native resolution and high-quality imaging, enabling faster and better outcomes for patients.
“We are experiencing significantly faster adoption of our technology with deal cycle time considerably reduced. This funding round will enable us to fast track our expansion plans and develop new functionality in order to meet growing demand.”