London-based medtech startup Medbelle has raised $7m in series A funding towards establishing the world’s first ‘digital hospital’.
Medbelle, an end-to-end platform for medical procedures, allows patients to book their procedure, giving them access to specialists and operating facilities, with all organisation taken care of by the platform itself.
Once a patient’s profile is set up, information about every aspect of their treatment is available via a web portal or through their own personal Medbelle care advisor. This approach aims to increase efficiency and save money by simplifying the steps a clinician must take to access the information they need, as well as reduce any stress or uncertainty experienced by patients by streamlining their data and making it easily accessible.
The service has already been used by 30,000 Britons to navigate their treatment journey, and the company predicts it will attract another 144,000 users by 2020.
Medbelle co-founder and managing director Daniel Kolb said: “The new capital will accelerate the development of our platform while growing Medbelle’s operating footprint.
“It will allow us to streamline high-quality care at scale and take even more work off the hospitals’ and specialists’ shoulders. Our technology helps them to operate more efficiently, be better-utilised and fully focused on what matters most: the best care for patients.”
The funding was received from Signals Venture Capital, Talis Capital, Mutschler Ventures, IBB Beteiligungsgesellschaft and Cavalry Ventures.
Medbelle currently has a Net Promoter Score of 93, a management tool used to gauge customer satisfaction, which is used by two thirds of Fortune 1000 companies. This score makes it the highest-rated medical provider in the UK.
The cash injection will allow Medbelle to undertake the next phase of its roll-out, as the firm looks to collaborate further with private medical and public insurance providers as well as the NHS, which has been looking to simplify its administrative process.
Thus far, the platform has been used solely to schedule privately-paid cosmetic, bariatric and ophthalmological procedures. It is currently expanding into orthopaedics and fertility, and ultimately aims to help patients with all medical procedures.
Signals Venture Capital investment manager Clemens Koós said: “Major digital platforms improve customer experience in almost all industries, however, in healthcare, the digitisation of patient journeys has been heavily lagging behind until now.
“Medbelle’s technology and personalised care enable much simpler and more affordable medical treatments - while allowing healthcare providers to efficiently focus on treating patients. We look forward to working with the Medbelle team and co-investors in expanding the platform to include more treatment specialities and increasing its reach."