PocDoc Secures Record £10m Pre-Series A Funding

Deal News | Nov 27, 2024 | Business Cloud

PocDoc Secures Record £10m Pre-Series A Funding

PocDoc, a Cambridge-based HealthTech startup, has raised its pre-Series A funding to over £10 million, marking the largest-ever pre-Series A round for a digital diagnostics company in the UK. The funding was led by MMC Ventures, Molten VC, Simplyhealth Ventures, and KHP Ventures, the first NHS-anchored venture fund. PocDoc was launched in 2020 and aims to transform access to cardio, metabolic, and renal disease diagnostics with its innovative smartphone-based technology. The technology allows patients rapid access to screening results at home, workplaces, and within the community. The company integrated its diagnostic service, the Healthy Heart Check, into the NHS app, further broadening its presence in public healthcare. This service has already been successfully used by tens of thousands and enjoys overwhelming positive feedback. As PocDoc continues to scale, it has formed partnerships with major pharmacy chains like Asda and Lincolnshire Co-op Pharmacy. The recent funding will be utilized to expand its operations, forge new partnerships, and introduce new diagnostic tests, while also exploring international markets. CEO Steve Roest expressed satisfaction with the investment, highlighting its alignment with NHS priorities and PocDoc's future vision.

Sectors

  • HealthTech
  • Venture Capital

Geography

  • United Kingdom – PocDoc is based in Cambridge, UK, and the article highlights their extensive work and partnerships within the NHS and UK pharmacy sector.

Industry

  • HealthTech – PocDoc operates within the HealthTech industry, leveraging technology to provide diagnostic solutions for health issues like cardiovascular diseases.
  • Venture Capital – The article informs about the pre-Series A funding round, representing the involvement of venture capital firms like MMC Ventures and Molten Ventures.

Financials

  • £10 million – Total amount raised in PocDoc's pre-Series A funding round, marking a record for UK digital diagnostics.
  • £5 million – The amount specifically raised through the latest funding contribution.

Participants

NameRoleTypeDescription
PocDocTarget CompanyCompanyA Cambridge-based HealthTech startup focused on digital diagnostics for diseases using smartphone technology.
MMC VenturesInvestorCompanyA venture capital firm leading the funding round.
Molten VCInvestorCompanyA venture capital firm involved in the funding round.
Simplyhealth VenturesInvestorCompanyA venture firm investing in PocDoc's pre-Series A round.
KHP VenturesInvestorCompanyThe first NHS-anchored venture fund participating in PocDoc's funding.
Steve RoestCEO and Co-founderPersonCEO of PocDoc, communicating the importance of the investment and future plans.