PocDoc Secures Record Pre-A Funding for Digital Diagnostics
In a groundbreaking move for the digital diagnostics landscape, Cambridge-based health-tech company PocDoc has successfully completed the largest pre-A funding round ever recorded for a digital diagnostics startup in the UK. Announced on 26 November 2024, the funding round managed to attract considerable investment interest, ultimately securing £5 million from a group of leading investors that includes MMC Ventures, Molten VC, Simplyhealth Ventures, and KHP Ventures, which holds the distinction of being the UK's first NHS-anchored venture fund. Founded in 2020 by Steve Roest, Dr. Vladimir Gubala, and Dr. Kiran Roest, PocDoc is at the forefront of transforming how patients access screenings for cardiovascular, metabolic, and renal diseases by leveraging innovative smartphone-based technology.
This latest influx of capital elevates PocDoc's total pre-A funding to over £10 million, marking a significant milestone for a UK digital diagnostics business in its early stages.
The fresh investment will bolster the company's rapid growth trajectory, which has been fueled by expanding partnerships with pharmacies, retailers, and corporate entities, as well as their solidifying relationships with NHS institutions across the nation. Throughout 2024, PocDoc has experienced remarkable momentum, including a pioneering integration into the NHS app that allows patients to take the 'Healthy Heart Check' test for cardiovascular disease, with immediate results available directly on their devices. Feedback has been overwhelmingly supportive, with a remarkable 97% of users indicating they would recommend the service to friends and family.
The ambitious vision of PocDoc extends beyond just immediate diagnostic testing; it aims to address broader health trends, particularly the transition from traditional healthcare models to innovative digital approaches. By focusing on reducing the burden of chronic diseases that cost the NHS billions, PocDoc's services stand to save the health system substantial sums—one study estimates up to £27 billion in savings over the next decade. With new health assessments in the pipeline and plans for expansion into international markets, PocDoc is poised to make an even greater impact. As Steve Roest, the CEO and Co-founder of PocDoc, asserts, the organization's commitment to preventive healthcare through advanced diagnostic technology is only just beginning, as they are increasingly recognized as a vital player in the digital health ecosystem. The company continues to strive for a healthier future, making diagnostic testing readily accessible for patients across the UK and potentially beyond.
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