Insurtech Spectrum.Life has introduced a €17m funding spherical led by Act Enterprise Capital with assist from current buyers.
With this funding, Spectrum.Life will proceed to maneuver ahead with its imaginative and prescient to alter and save as many lives as doable whereas changing into the main healthtech and digital well being accomplice.
Stuart McGoldrick, govt chairman and founding father of Spectrum.Life, mentioned: “With this contemporary funding we are able to now ship upon our formidable plans to be the market chief in digitally delivered healthcare. We’re a 2nd Technology digital well being supplier, and we firmly imagine that Spectrum.Life’s mix of medical acumen and profitable observe document in scaling digital applied sciences presents a real alternative to revolutionise healthcare. Our objective is to raise affected person satisfaction and outcomes, inside a commercially sustainable mannequin that actively contributes to healthcare transformation and, critically, accessibility.
“This milestone not solely marks a major achievement for Spectrum.Life, but in addition alerts the broader market’s shift in direction of embracing built-in Healthtech options that ship digital well being transformation for Insurers, Educators and Employers.”
Spectrum.Life at the moment takes care of 7.2 million people within the UK and Eire, throughout a number of insurers, 3000 company shoppers and 50 UK universities. The Firm at the moment employs over 260 individuals, together with over 125 clinicians, with 50 % based mostly within the UK. With this funding, Spectrum.Life plans to facilitate the recruitment of over 100 new hires over the subsequent 18 months and speed up its progress trajectory.
“I’m extremely happy with our distinctive staff that Stephen Costello, my co-founder and the Firm’s CEO, has constructed. Their dedication and keenness have powered our outstanding journey and enabled us to grab progress alternatives over the previous years. We might not be right here with out them. Equally, the shut relationships with our shoppers and clients are essential to produce medical excellence. I need to additionally thank Laya healthcare who’ve been unwavering supporters of us since our formation. We have now launched some new key strategic partnerships this yr and are enthusiastic about others that can be launching over the approaching weeks and months,” McGoldrick continued.
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Debbie Rennick, basic accomplice at Act Enterprise Capital, added: “Having led their first increase in 2021, we’re thrilled to announce our continued help for Spectrum.Life on this funding spherical. The distinctive staff led by Stuart McGoldrick and Stephen Costello have demonstrated unparalleled dedication in advancing accessibility to digitally enabled well being options in a really fragmented market. We’re assured that this funding will propel Spectrum.Life to even larger heights within the worldwide healthcare market.”
This comes after Spectrum.Life has strategically rebranded to a clinically-backed digital well being, psychological well being, and wellbeing options supplier.
The rebrand for Spectrum.Life displays the agency’s place as a digital well being accomplice for these within the insurer, office, and schooling sectors trying to help employees, members and college students.
