Draper & Dash, the healthcare focused data analytics platform that has changed how hospitals and care providers access, understand and work with patient data, has raised £3m in venture funding from Guinness’ EIS Funds.
The company’s SaaS-based analytics platform uses advanced data science and machine learning techniques to predict patient flow and demand for hospitals and care providers. The platform supports healthcare systems to improve patient flow, drive cost improvement programs, create new strategic partnerships and ultimately improve health outcomes.
Draper & Dash has already successfully deployed its software into over 20 public and private hospitals and healthcare providers in the UK, US and Australia including the Royal Free London, Guy’s & St Thomas’ NHS Trust and Royal Melbourne Health, delivering significant cost savings and operational efficiencies for its clients.
The new investment from Guinness Asset Management’s EIS Funds will allow Draper & Dash to continue to develop its product offering as well as grow its sales and marketing resource to expand into new territories. In 2019 the company plans to extend the capabilities of its industry-leading AI and ML integration for both its UK and international clients enabling even greater predictive analysis and personalised care for users.
Orlando Agrippa, Founder and CEO of Draper & Dash, said “our software platform business has been accelerating significant recently and so we are raising capital to scale the business through increased penetration of our existing customers and territories, as well as converting our expanding pipeline of new prospects. We have tripled our AI and ML investment over the last year through a number of long-term projects with existing customers.
Our strategy continues to focus on real value creation with better outcomes for healthcare providers and their patients. As outcomes, efficiency and patient flow becomes more of a challenge globally, I’m fortunate to lead a team of people who are all dedicated to advancing the capabilities of data analytics in healthcare and improving care delivery.”
John Spearman, Chairman of Draper & Dash, added: “This is an important step for D&D. The value and potential of the company has been recognised now, not just by enthusiastic early investors, but also by a highly respected and well known fund.”
Edward Guinness, Fund Manager at Guinness EIS Fund, commented “We look forward to working on building this business into a substantial contributor to service improvements for both public sector and private healthcare providers. We were impressed by Orlando’s team and have received positive feedback from customers on the Draper and Dash products. Draper & Dash have an attractive proposition that should be in more hospitals and healthcare providers and we hope that our funding will allow the company to extend its reach.
Eddie Harding, Partner at ICON Corporate Finance who advised management on the funding round, added “I’m delighted to have assisted Orlando and his team in raising this venture funding from Guinness. Draper & Dash’s analytics platform makes a real impact in driving efficiencies at healthcare providers globally, and most importantly improving patient outcomes.”