Perfect Ward secures £4m of growth capital from Octopus Investments
Perfect Ward, a digital quality inspection platform designed to support the health and social sectors, has secured £4 million investment from the Development Capital team of Octopus Investments, part of Octopus Group. Perfect Ward is used across a rapidly expanding base of hospitals, care homes and other health and social care organisations in the UK and internationally. The software helps customers to continually drive improvements in quality and care, through the digitalisation of quality inspections.
Timothy Bolot, Founder and CEO of Perfect Ward said:
“Perfect Ward’s software platform empowers frontline care staff to own quality improvement. It is quick and easy to use, freeing up time for nurses, carers and other staff to devote to patients and residents. We are delighted with the new partnership as Octopus shares our passion for supporting front line staff to improve quality while providing management real-time assurance across all services.”
Perfect Ward combines the clinical knowledge of frontline staff with an intuitive digital platform. This allows hospitals and care providers to better track, monitor and document their quality inspections and action plans through the data collected, allowing them to make better decisions and ensure compliance.
With offices in London and Adelaide, Perfect Ward serves over 70 customers in the UK, Australia and South Africa, and has been used in over 500,000 inspections by more than 25,000 registered healthcare professionals. NHS trusts and private care providers, including the care homes within Octopus Real Estate (part of the Octopus Group), have been driving quality by integrating the platform into their day-to-day processes.
The investment from Octopus will support Perfect Ward’s ambitious plans. This includes a focus on growth of its core territories through an increase in sales, marketing and customer support, as well as further expansion into international markets. Perfect Ward also intends to accelerate its product development as it continues to improve its market-leading solution, whilst enabling accurate, complete, and monitored quality audits.
Richard Court, Head of Development Capital at Octopus Investments, said:
“We’re delighted to be partnering with Perfect Ward. Their platform is well positioned to help healthcare organisations track, monitor, and document their inspections, in line with best-in-class practice guidelines, improving clinical safety. Octopus has a particularly good insight into the importance and potential for growth in this area, with care homes within Octopus Real Estate (part of the Octopus Group) having been a customer of Perfect Ward for the past eighteen months. Tim and his team have an impressive track record, with deep industry experience and expertise to develop the right product for healthcare organisations. There is also a strong values alignment with Octopus, and we are excited to be supporting Perfect Ward in its commitment to delivering clinically safer inspections.”
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About the Development Capital team
The Development Capital team, part of Octopus Investments, provides growth capital to some of the UK’s most exciting B2B software companies. We are passionate about working with brilliant management teams and helping scale-up businesses continue their growth trajectory. Our typical initial investment is between £2-10m and we always look to be the capital provider of choice for our strong performing portfolio companies. Depending on the stage of the company and management team objectives, we can provide flexible capital tailored to each scenario.
About Octopus Group
Octopus is a group of innovative, entrepreneurial businesses investing in the people, ideas and industries that will help to change the world. We are experts in financial services and energy, and we care as much about the impact of our investments as the returns they generate. Today we manage more than £9.2* billion on behalf of retail and institutional investors. Our energy supply business is one of the fastest growing companies in the UK, reaching 1.9 million customers in just four years, and is the only supplier to be recommended by Which? four years in a row.
Octopus Energy, Octopus Investments, Octopus Renewables, Octopus Real Estate, Octopus Ventures, Octopus Wealth and Seccl Technology are all part of Octopus Group. Visit octopusgroup.com.
*Includes funds under advisory mandates and the Octopus Cash service as at 31st December 2020.
About Perfect Ward
At Perfect Ward, we apply the best technology to solve one of health and social care’s most important challenges – how to develop a programme of continuous quality improvement and assurance. Our aim is to bring the mobile user experience that people love to an industry that still heavily relies on manual processes. We started with an app that allows clinicians to do their quality inspections, previously done on paper and using cumbersome spreadsheets, to crunch data. Perfect Ward frees up time to care for our customers, including King’s College Hospital, Bart’s Health, Nottingham University Hospital, South London and Maudsley, Royal Marsden, Cardiff and Vale University Health Board and other leading health and social care organisations in the UK, Australia, New Zealand and South Africa. To discover more visit www.perfectward.com
Press contact: Mary Phillips/Andreina West
PR Artistry Limited
T: +44 (0)1491 845553
E: [email protected]
Octopus Investments press contact: Sam Ferris
T: 020 3142 4933
E: [email protected]