Doccla Secures £35 Million in Series B Funding to Expand Virtual Ward Technology Across Europe
In a significant boost for the healthcare technology sector, Doccla, a leading provider of virtual ward and remote monitoring technology, has successfully raised £35 million in a Series B funding round. The investment, spearheaded by the prominent venture capital firm Lakestar, marks a pivotal moment for the company as it seeks to expand its innovative services across Europe, particularly in the life sciences sector.
A Vision for Remote Patient Care
Founded with the mission to enhance patient care through technology, Doccla has made remarkable strides in the UK’s National Health Service (NHS). The company’s remote monitoring technology allows patients to receive care in the comfort of their homes while being closely monitored by healthcare professionals. This approach not only improves patient outcomes but also alleviates pressure on acute care settings, thereby optimizing healthcare resources.
Martin Ratz, the founder of Doccla, emphasized the dual benefits of their technology: “Technology-enabled virtual wards deliver great benefits for patients, who can recover at home, while freeing up resources for healthcare providers.” This innovative model has proven invaluable to the NHS, and with the new funding, Doccla is poised to scale its operations across Europe.
Strategic Expansion Plans
The £35 million funding will primarily be directed towards expanding Doccla’s footprint in key European markets, including France, Germany, Austria, and Switzerland. This strategic move comes on the heels of a previous financial injection of €5 million (£4.21 million) from Bertelsmann Investments in November 2023, which underscores the growing interest and confidence in Doccla’s potential.
Ratz noted the exceptional upside potential for their services in the life sciences sector, stating, “We will continue to invest in our data science operations.” This focus on data science is crucial for enhancing the effectiveness of remote monitoring technologies and ensuring that healthcare providers can deliver personalized care to patients.
Innovative Technology at the Core
At the heart of Doccla’s offering is a comprehensive remote monitoring solution that includes a pre-configured tablet and wearable medical devices capable of measuring various vital signs. This technology enables healthcare professionals to monitor patients remotely, ensuring timely interventions when necessary. The system is designed to facilitate care in virtual wards, which have become increasingly popular as healthcare systems strive to manage patient loads more effectively.
By enabling patients to receive care at home, Doccla’s technology not only enhances the patient experience but also contributes to significant savings in hospital bed days. For instance, recent reports indicate that virtual wards have saved nearly 1,000 bed days at Leeds Teaching Hospitals, showcasing the tangible benefits of this innovative approach.
Recognition and Partnerships
Doccla’s rapid growth and success have not gone unnoticed. Lakestar partner Oliver Heimes, who has joined Doccla’s board, praised the company’s journey from a research project to a market leader in less than five years. He highlighted the proven results of remote patient care, stating, “Remote patient care delivers proven results and is ushering in new standards in the healthcare systems globally.”
In addition to securing funding, Doccla has also formed strategic partnerships to enhance its service offerings. In November 2023, the company announced a collaboration with Joined Up Care Derbyshire, which will see the deployment of Doccla’s virtual ward technology across five sites within the integrated care system. This partnership focuses on various healthcare pathways, including palliative care, respiratory health, frailty, cardiology, and haematology, further solidifying Doccla’s commitment to improving patient care.
Conclusion
As Doccla embarks on this exciting new chapter with substantial funding and strategic partnerships, the future looks promising for the company and the healthcare sector at large. By leveraging technology to enhance patient care and streamline healthcare processes, Doccla is not only setting new standards in the UK but is also poised to make a significant impact across Europe. With a focus on innovation and patient-centered care, Doccla is leading the charge in transforming how healthcare is delivered in the modern age.