PocDoc announces £2.5m extension to seed round

Cambridge-based digital health platform PocDoc has announced a new fundraise, adding £2.5 million to its Seed round.

This takes the total investment raised at Seed stage £5 million.

The extension round was led by existing investors Forward Partners and MMC Ventures.

Simplyhealth Ventures joined alongside notable angel investors including founders of Graze and Skin + Me and the owners of Mclaren and TAG Heuer.

PocDoc has also added ex-Axa Healthcare CEO Keith Gibbs as Chair.

Steve Roest, CEO of PocDoc, said:

“We are excited to announce this investment which is a huge statement of confidence from our investors that we have a unique approach to solving a major global problem in healthcare – how to truly increase access and treat people faster, without adding further burden onto clinicians.

“We are thrilled to add Simplyhealth Ventures and look forward to working with them as we look forward to growing in the UK and beyond in the next 12 months. ”

PocDoc is an app-based technology platform combining proprietary lateral flow tests and cloud-based AI diagnostics to deliver end to end digital pathways for the assessment, diagnosis and treatment of major diseases.

The technology is initially focusing initially on cardiovascular disease, where access to full five marker cholesterol testing is a major obstacle to diagnosis and treatment.

PocDoc is able to deliver the full end-to-end cardiovascular health check pathway, including a quantified, lab-grade five-marker cholesterol test with results in the app, in under 10 minutes per person.

There are 7.6 million people living with CVD in the UK, and Cardiovascular Disease is a leading cause of premature disability, mortality, and health inequalities, and responsible for one in four deaths each year, according to the British Heart Foundation.

Luke Smith, Investment Partner at Forward Partners, said:

“We’re pleased to help support PocDoc with the round. Steve and the team have built a fantastic product that can improve access to testing and follow on treatment for cardiovascular disease, which is a huge issue for people across the UK – and the world.

“The involvement of further high-profile investors and a fantastic new Chair strengthens the business and further validates their approach. We look forward to seeing their progress in the coming months.”