Accurx has successfully raised $50.8 million over four funding rounds, with its latest round being a Series B in September 2021. The platform is designed to improve patient communication for healthcare professionals, and it is used by 99% of GP practices in England.
Keep reading to explore the intricacies of Accurx's fundraising journey and the investors backing this innovative healthcare technology platform.
What Is Accurx?
Accurx, founded by Jacob Haddad and Laurence Bargery, is a healthcare technology company based in London. The company focuses on improving patient communication for healthcare professionals through its innovative platform.
Accurx's mission is to connect patients and their healthcare teams, facilitating seamless communication. Their platform is widely used across GP practices in England and is expanding into hospitals and community providers.
With a team of 201-500 employees, Accurx continues to grow and enhance its services, aiming to make healthcare communication more efficient and effective.
How Much Funding Has Accurx Raised?
- Pre-Seed
- Amount Raised: $335,000
- Date: March 2017
- Motivation Behind the Round: Initial product development and market research.
- Seed
- Amount Raised: $450,000
- Date: February 2017
- Lead Investors: Naji A, Charlie Songhurst, Tom Tugendhat
- Motivation Behind the Round: Further product development and early market entry.
- Series A
- Amount Raised: $12,000,000
- Date: February 2019
- Lead Investors: Localglobe, Atomico, Tom Tugendhat
- Motivation Behind the Round: Optimize product-market fit and expand the team.
- Series B
- Amount Raised: $38,000,000
- Date: September 2021
- Lead Investors: British Patient Capital, Trusted Insight, Encore Capital, Lakestar, Atomico
- Motivation Behind the Round: Scale the business, expand market presence, and enhance product offerings.
Accurx has raised a total of $50,785,000 in funding. The current valuation is undisclosed.
Key Investors
- Atomico
- Details: Atomico is a London-based venture capital firm founded by Niklas Zennström, co-founder of Skype. The firm focuses on helping disruptive technology companies scale globally.
- Investment Focus Areas: Technology, healthcare, fintech
- Notable Investments: Klarna, Lilium, Graphcore
- LocalGlobe
- Details: LocalGlobe is a venture capital firm that invests in early-stage companies. Founded by father-and-son duo Robin and Saul Klein, the firm has a strong track record in supporting startups.
- Investment Focus Areas: Technology, healthcare, consumer
- Notable Investments: TransferWise, Zoopla, Citymapper
- Entrepreneur First (EF)
- Details: Entrepreneur First is a company builder that invests in individuals to help them start companies. It was founded by Matt Clifford and Alice Bentinck in 2011.
- Investment Focus Areas: Technology, AI, deep tech
- Notable Investments: Magic Pony Technology, Tractable, OpenCosmos
- Lakestar
- Details: Lakestar is a venture capital firm that invests in technology companies. It was founded by Klaus Hommels and has offices in Zurich, Berlin, and London.
- Investment Focus Areas: Technology, healthcare, fintech
- Notable Investments: Spotify, Airbnb, Facebook
- British Patient Capital
- Details: British Patient Capital is a subsidiary of the British Business Bank, focusing on long-term investments in high-growth companies. It aims to support innovative businesses in the UK.
- Investment Focus Areas: Healthcare, technology, public services
- Notable Investments: Not specified
What's Next for Accurx?
Accurx is poised to expand its communication platform beyond GP practices to hospitals and care homes, tapping into a vast market. With nearly 22 million COVID-19 vaccinations managed through their platform, the potential for growth is immense. The team is set to grow to 300 members, supporting their vision and product development.
Future fundraising opportunities are likely as Accurx continues to innovate and scale. The push to modernize NHS communication methods presents a significant opportunity. However, challenges such as integrating their platform across different healthcare settings and maintaining company culture during rapid growth remain.
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