UK-based LogmyCare, a software platform that helps care facilities and social care organizations “become digital,” has raised £3.25 million in a funding round led by Mercia with participation from angel investors and Oxford Capital.
LogmyCare lets caregivers use a mobile app to get rid of paper documents, find patient records quickly, and save time from anywhere. The software, which helps organizations run more efficiently and saves caregivers up to an hour every shift, uses data to generate individualized care plans.
Company Size
Log my Care, the only freemium product of its kind in the UK, has been rapidly expanding its customer base. More than 800 care providers of different sizes now use it to support 10,000 patients each week.
In the last 12 months, the London-based company’s monthly recurring revenue has climbed by approximately 300%, and its staff has grown from 6 to 24.
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Founders
Sam Hussain and Adam Hurst, both of whom went to Oxford University, started Log my Care in 2017 with the goal of making technology for social care more accessible to everyone.
Sam had worked with a care management platform in Singapore before, and he thought he could give the care industry high-quality software at a fair price.
Funding till now
Before this round, the business had already raised £1 million from angel investors to help create a platform.
As part of its plan to become the best digital care management platform in the world, the company will be able to strengthen its position in the UK market, improve the platform, and look into new international opportunities.
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Investors
Mercia was making investments through its Northern Venture Capital Trusts (VCTs) thanks to its most recent funding round, which also included angel investors Alexander Limpert, Matthew Westerman, and Steven Meersman. Mercia’s Alex Gwyther said:
Although many healthcare providers still use paper, regulators and the government are putting more and more pressure on them to switch to digital. Log My Care is a simple, all-in-one solution for smaller providers that is still affordable. The company has been growing quickly, and this new capital will accelerate that growth even more. We’re excited to aid Sam, Adam, and the team as they work to advance social care in the UK and abroad.
Closing thoughts:
The startup seems to have the confidence of investors and is already generating revenue, so its next round will be a good one to keep an eye on.
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