Pembroke VCT invests £1m into healthcare software Credentially
Platform facilitating faster healthcare provider registration to be scaled-up in the UK
Pembroke VCT, the venture capital trust focused on building the brands of tomorrow, has made an initial investment of £1 million into Credentially, the platform that automates healthcare hiring, onboarding and compliance. During the pandemic, the company has worked with the NHS to speed up the registration of healthcare professionals.
Credentially was launched in 2016 by founders Kit Latham, a former A&E doctor and Artem Stalpouski, a software engineer. They combined their experience and expertise to address the lengthy hiring processes, disjointed onboarding efforts and fragmented compliance reporting that healthcare providers currently experience.
Built with both the candidate and organisation in mind and using machine-learning technology, Credentially eliminates many of the challenges associated with traditional sign-up methods and recruitment across healthcare, achieving a 90% reduction in manual administrative work.
Pembroke’s investment comes as Credentially continues to support the NHS Covid Clinical Assessment Service to efficiently sign-up and verify thousands of doctors, on a volunteer basis. After giving the NHS free access to the Credentially platform at the beginning of the pandemic, it saw the number of candidates verified per week increase twenty-fold.
This initial investment from Pembroke will be used to scale Credentially’s product within the UK by developing and professionalising its sales and marketing functions and continuing to build its technology development team.
Andrew Wolfson, CEO of Pembroke Investment Managers LLP commented;
“Credentially’s strong management team and scalable technology are both key characteristics of the type of business we look for. Credentially has helped improve healthcare efficiency and we are excited about the growth prospects and opportunities that lie ahead that will help drive digital change within the healthcare system.’’
Kit Latham, Co-Founder and CEO of Credentially added;
“Credentially was launched with the mission to save millions of hours across healthcare by automating processes for workers and providers. Our partnership with Pembroke VCT will facilitate expansion in the UK and will be crucial in allowing us to deliver on this mission.”
NOTES TO EDITORS
Pembroke VCT plc, founded in 2012 and managed by Pembroke Investment Managers LLP, is a venture capital trust focusing on growth stage companies in the design, education, food, beverage and hospitality, wellness, digital services and media sectors. The investment team aims to find exceptional, innovative founders as well as use their network and experience to grow the consumer brands of tomorrow – giving investors the opportunity to share in the growth of some of Britain’s most exciting and entrepreneurial smaller companies. The team is committed to helping strong management teams realise their vision through Pembroke’s strategic and operational expertise, helping at every stage of their company’s growth.
Andrew Wolfson, CEO, Pembroke Investment Managers LLP
CEO Andrew Wolfson is responsible for executing the firm’s strategy, leading the investment team, deal origination and supporting portfolio companies. Andrew sits on the board of a number of Pembroke’s investments. Prior to the launch of Pembroke, Andrew was a Director at Oakley Capital and worked with smaller portfolio companies including KX and James Perse. Before joining Oakley, Andrew ran several businesses working across a breadth of sectors from hospitality to manufacturing and telecoms. Andrew is also a director of Benesco Charity Limited, and a trustee of The Charles Wolfson Charitable Trust.
Founded in 2016, Credentially is an innovative healthcare recruitment software that automates the entire end-to-end hiring, onboarding, and compliance process. Credentially works with health providers and automatically verifies documents and professional registrations to help improve productivity and solve healthcare employment, whilst protecting patient safety.
Kit Latham, Co-Founder and CEO, Credentially
Kit is Co-Founder and CEO of Credentially. Prior to launching Credentially, Kit was an Emergency Medicine Physician for three years after completing his medical degree at the University of Leeds. He is in the process of completing his MSc in Technology Entrepreneurship at UCL. Kit is also Co-Founder of the Doctors’ Digital Collective, a co-creation community of doctors who collaborate on technology projects in healthcare and is currently an associate of the NHS Digital Academy.