Doccla, a Sweden-founded, London-based healthtech startup, has secured a £15 million Series A funding round led by venture capital firm General Catalyst, who also invested in Plume, a virtual healthcare services designed for the transgender community.
Other investors who participated include healthcare investors KHP Ventures – a collaboration between King’s College London, King’s College Hospital NHS Foundation Trust, and Guy’s and St Thomas’ NHS Foundation Trust – as well as existing investors Giant Ventures and Speedinvest.
As a part of the funding round, Chris Bischoff, Managing Director at General Catalyst, will join the board.
How will the funding be used?
The UK company will use the capital for the development of a tech stack that facilitates the integration of its patient monitoring solutions with more medical devices and electronic healthcare record systems, data analytics, AI.
Further, the company plans to expand clinical capacity and availability to meet the increasing demand for virtual hospitals.
Doccla told Tech Funding News that its European expansion would be shaped by upcoming public tenders, notably those in larger markets. Further, the company is in dialogue with significant operators in several countries.
Martin Ratz, Doccla Founder, comments, “I’m very proud of our team in completing this successful financing round, marking a significant step in Doccla’s vision of making virtual wards a core part of modern healthcare systems. From the company’s beginnings in 2019, we have continued to grow and expand and have received contract extensions from all of our clients, proving the inherent value of Doccla to the healthcare sector. Combining new technology with a service layer and clinical capacity reduces work for the NHS. We look forward to using this new level of support to further build on our success by getting more hospitals on board and developing our technology and clinical capacity to help solve the hospital bed crisis and alleviate the immense pressures on the NHS and other healthcare systems.”
Patient monitoring technology
Founded in Sweden in 2019 by health and tech entrepreneurs Martin Ratz and Dag Larsson, Doccla provides virtual ward and patient monitoring technology – a comprehensive service that allows clinical staff from hospitals across the UK to monitor the vital signs of those under treatment remotely.
The company partner with hospitals to enable early discharge and reduced readmission across a wide range of patient groups. Doccla’s end-to-end solution is device agnostic, integrates with local systems, and delivers data-driven insights.
Doccla’s offering consists of a tailor-made box of equipment, which includes pre-configured smartphones that have a large font that is easier to read for those with vision impairments, and wearable medical devices that can measure various physiological parameters such as heart rate, respiration rate, body temperature, sp02, and blood pressure.
To date, Doccla has saved thousands of bed days for the NHS and client health trusts and has achieved a 29% reduction in Emergency Admissions and a 20% reduction in A&E attendance.
Supports long-term view
General Catalyst is a venture capital firm that invests in powerful, positive change that endures people and society.
The VC support founders with a long-term view who challenge the status quo, and partners with them from seed to growth stage and beyond.
With offices in San Francisco, Palo Alto, New York City, London, and Boston, the firm has helped support the growth of businesses such as Airbnb, Deliveroo, Guild, Gusto, and more.
Chris Bischoff, Managing Director at General Catalyst, comments, “The virtualisation of hospital wards is critical in efficiently expanding health resources and enabling timely, safe transition of care into the home. Doccla has immense potential and is driving real impact by providing a much-needed lifeline for overwhelmed hospitals and improving patient outcomes through remote monitoring. The founders’ vision to drive more digitally-enabled, decentralised healthcare that combines physical and virtual pathways aligns with General Catalyst’s Health Assurance thesis. Importantly, their partnership approach with NHS Trusts echoes our core values of radical collaboration and responsible innovation — an innovation that improves society. At General Catalyst, we support companies that bring about powerful, positive change that endures, and we believe Martin, Dag, and the team will do just that.”