Elemental Software clinches £300,000 for digital healthcare platform
'Social prescribing' platform will use finance to accelerate software development, make key hires and improve marketing
Elemental Software, a digital healthcare platform, has just completed a £300,000 raise from European investment bank ClearlySo.
Launched at NHS Expo 2016 by Leeann Monk and Jennifer Neff, Derry-based Elemental Software has developed a ‘social prescribing’ (community referral) platform that connects patients, health and social care professionals and community health and wellness providers.
With the NHS spending around £7 out of every £10 on treatment of conditions – such as type 2 diabetes, mental health related illness and heart disease – that can be avoided by lifestyle changes, and an estimated £22bn funding gap expected by 2020, Elemental’s platform is aiming to demonstrate “the value and difference that referrals to local exercise, diet and nutrition and mental support can make to peoples’ lives”.
The company will use the funding to accelerate software development, bolster its employee base and expand its marketing efforts.
Monk and Neff said: “We are absolutely delighted that ClearlySo plugged into the Elemental vision for revolutionising the ability to socially prescribe across the health, social care and third sectors.
“The investment partnership, created by London-based ClearlySo, engages social impact investors who each bring a wealth of knowledge, expertise and resource to help us solve one of the most pressing health and social care challenges of our generation.“
Stefano Cappanari, investment manager at ClearlySo, added: “We were very pleased to play a role in helping Elemental scale the “more than medicine” approach to health.
“From grass-roots Monk and Neff built a business around the patient, health and social professionals, community based providers and Commissioners and we are excited that the capital raise, which closed in record time, and capabilities from our network will allow them to take the next step in transforming our care system for better.”