A provider of artificial intelligence to the healthcare industry has announced an £6.2 million Series A raise.
Founded in 2017, RwHealth’s data science platform gives healthcare providers access to the best and most in-depth data available, helping them to make better decisions and improve outcomes for their patients.
Headquartered in London’s Canary Wharf, RwHealth helped UK hospitals anticipate demand and combat bed shortages during the COVID-19 pandemic and works with more than 40 providers in the UK and internationally.
It says the capital will help clinicians manage elective recovery backlogs in the NHS and advanced clinical research in areas such as acute myeloid leukaemia (AML), CAR-T and other diseases as the healthcare industry attempts to recover post-COVID.
The raise, led by Maven VC and existing investor Guinness Asset Management, comes after the company recently reported 160% year-on-year growth as its data-led solutions are increasingly embraced by NHS trusts, private healthcare providers and major pharmaceutical companies.
“As we continue to accelerate and invest in the ethical use of clinical research data to advance new medicines for patient care, this funding gives us the capital needed to carry out our immediate plans while delivering AI solutions which will help futureproof our NHS,” said CEO and founder Orlando Agrippa.
“The raise will support our work with UK and US healthcare partners, helping us to provide deeper clinical care technologies, while supporting post-pandemic recovery efforts with our AI data science platform.”
Alexander Sleigh, investment director at Maven VC, said; “RwHealth is at the forefront of the drive to use real world evidence and predictive analytics more effectively in the healthcare and pharma sectors – ultimately, this will enable better patient outcomes and will be more vital than ever in the post pandemic era.
“The company has seen significant commercial growth through its blue-chip customer base which includes NHS Trusts and large pharma companies and is now poised to scale up internationally.
“We are delighted to be able to support the company’s next phase of growth through this investment via a number of our funds and co-investment partners.”
RwHealth has processed more than 10.5m patients in the UK and a further 5.5m across the Middle East and Australia.