London-based Cera, a digital-first home healthcare company, has raised $320 million in equity and debt funding. The funding round was led by Cera’s existing investor Kairos HQ.
The round saw participation from Vanderbilt University Endowment, Evolve Healthcare Partners alongside Schroders Capital (that invested in Ada), Jane Street Capital, Yabeo Capital, Squarepoint Capital, Guinness Asset Management, Oltre Impact, 8090 Partners, technology investor Robin Klein and several other international institutional investors.
With this investment, Cera becomes the top player in Europe’s digital-first home healthcare market.
Expand UK’s care
The funds will allow Cera to expand its tech-enabled health services from 15,000 to 100,000 at-home patients each day, freeing up NHS beds and boosting the UK’s care capacity by the equivalent of over 50 hospitals.
The new capital will be used to increase the number of patients in Cera’s care by over 5-fold by 2025, furthering Cera’s mission to empower patients to live longer, healthier lives in their own homes through technology. It will also be used to expand the company’s investment in nursing, telehealth and prescription delivery services, both in the UK and internationally, to provide multiple healthcare services per household.
Currently, Cera operates in the UK and Germany delivering care, nursing, telehealth and prescription delivery services, in the home, supported by technology, around 10 times more affordable than a patient receiving care in a hospital.
On the fundraise, Dr Ben Maruthappu MBE, CEO and Co-founder of Cera, commented, “Receiving such significant financial backing during this period of global economic volatility, is testament to the strength of Cera’s business model, our innovation, and our commitment to revolutionising healthcare. We’re now in pole position to be able to use our unique technology to expand what we do for patients across the world who are in need of care, while relieving pressures on public services.”
Tim Creed, Head of Private Equity Investments of Schroders Capital, commented, “Cera’s digital-first home healthcare is a unique offering that we believe must be rolled out far and wide to provide a tangible solution to hospital waiting times, building a bigger carer workforce and to help our elderly communities to receive quality, genuine care. We’re proud to be a partner of Cera, and to play a part in supporting their mission to empower people to live longer, better lives in their own homes through technology.”
Sir David Behan CBE, Chair of Cera’s Advisory Board and former CEO of the Care Quality Commission, commented, “Cera has already transformed the lives of tens of thousands of people, helped the UK Government to employ carers during the COVID-19 pandemic, and created and implemented technology that gives carers, those they care for and their families peace of mind, while also giving them the freedom to live their lives in the comfort of their own homes. Cera’s Next Chapter will take that further to more people who require care, more countries and with more technology innovations.”
On Cera’s services, Christine Wand from Suffolk, being cared for by Cera, commented, “Cera has completely changed my life. Managing my health problems has been really difficult, but now that I have a Cera carer and their app, their technology has helped me to really stay on top of my health and wellbeing and it has dramatically improved my outlook on life. My carer is more like a friend – she is so reliable, so friendly and she truly understands me and my needs.”
Digital-first home healthcare provider
Launched in 2016 by Dr Ben Maruthappu MBE in London, Cera is a digital-first home healthcare company delivering care, nursing, telehealth and repeat prescriptions. Its mission is to empower patients to live longer, better lives in the comfort of their own homes, saving the need to go to hospital. Cera’s revenue has grown 100-fold in less than three years, making it one of the fastest growing businesses in Europe.
Cera’s Carers and Nurses collect patient symptoms and health data during at-home appointments, which its artificial intelligence algorithms use to predict deterioration in conditions before they occur, triggering earlier health interventions to prevent people becoming unwell.
This technology is touted to have reduced hospitalisation rates by an unprecedented 52% and predicted up to 80% of hospitalisations seven days in advance.