RwHealth RAISES $8.4 MILLION IN TOTAL SERIES A FUNDING TO SUPPORT HEALTHCARE PARTNERS WITH ARTIFICIAL INTELLIGENCE POST-PANDEMIC
- RwHealth, the AI healthcare partner which helped UK hospitals to anticipate demand and combat bed shortages during the pandemic has raised $8.4 million in total Series A funding
- It now works with more than 40 providers in the UK and internationally and the company has seen 160 per cent year-on-year growth with success mirroring the wider growth of, and investment in Artificial Intelligence in healthcare (including a £140 million NHS investment in AI pilots)
- Funding will support UK and US health industry partners to increase efficiency, save money and deliver optimised clinical outcomes at speed post-pandemic
- Maven VC and Guinness Asset Management led the round, along with ICON Corporate Finance
LONDON, UK. 02/11/2021: RwHealth, the leading provider of Artificial Intelligence to the healthcare industry, has announced an $8.4 million raise in its Series A funding round. 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.
Founded in 2017, RwHealth’s unique Data Science Platform combines Artificial Intelligence, Machine Learning and Data Science to give healthcare providers access to the best and most in-depth data available, helping them to make better decisions, and improve outcomes for their patients. By using RwHealth’s deep analytical capability to make predictions, model treatment options, improve safety and increase efficiency, clinicians can deliver better care to more people.
The raise, led by Maven VC and existing investor Guinness Asset Management, comes after the company recently reported 160 per cent year-on-year growth as its data-led solutions are increasingly embraced by NHS trusts, private healthcare providers and major pharmaceutical companies.
Orlando Agrippa, CEO and Founder of RwHealth, said:
“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.
“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 currently works with more than 40 providers in the UK and internationally and its AI technology has processed more than 10.5 million patients in the UK and a further 5.5 million across the Middle East and Australia. Its successful platform has helped many of the UK’s hospitals to combat bed shortages and tackle waiting list issues which have worsened during and immediately after the pandemic.
RwHealth is headquartered in London’s Canary Wharf and was founded in 2017.
Notes to editors:
For more information, please contact Dawn Vincent, [email protected]