Irish digital health company Wellola has raised €2.2m in a recent funding round, bringing total funding to date to €4m.
Wellola was founded in Dublin in 2016 by chartered physiotherapist Sonia Neary. The business provides healthcare organisations with a patient communication platform designed to work with existing systems.
This platform can then provide hospitals and community clinics with the digital communication tools required to provide healthcare outside of a hospital setting.
The funding round was led by Irish investment house Elkstone, with additional funding from Enterprise Ireland and Bay Advisory.
The company plans to use the funding to accelerate their growth in Ireland, the UK and other European markets. Wellola is also set to recruit technical and operational staff in both Ireland and the UK.
“Digital interventions like ours can address health inequalities by being scalable, affordable and accessible,” founder and chief executive Sonia Neary said.
“This investment will enable us to further enhance our Portasana patient care and communication platform and also expand our footprint across the UK, ultimately empowering healthcare professionals to deliver more efficient, effective and personalised care to their patients,” she added.
The company’s Portasana platform is currently being used by a number of organisations, including Leeds Teaching Hospitals NHS Trust, North East London Foundation Trust and Birmingham Community NHS Trust.
Wellola reported that one NHS Trust department using the platform has reduced the need for return appointments by 30pc, reducing costs by around £325,000 (€379,000) a year.
Around 95pc of 600 UK patients who completed an education course featured on the Portasana platform also said they had a better understanding of their conditions, with 91pc feeling more confident about managing it.
The company also pointed to growing demand for digital health solutions following hospital overcrowding and long waiting lists across Europe.
Elkstone partner Barry Brennan said the company is ushering in a “new era of healthcare right across Ireland, the UK and Europe”.
“Wellola is revolutionising how hospitals and clinics care for and communicate with their patients,” he said. “As Ireland’s largest early-stage venture fund, we are always on the lookout for innovative Irish founders making an impact both at home and abroad.”
Enterprise Ireland’s Ruth McAvoy said that the company’s technology brings benefits to both patients and healthcare systems.
By Caoimhe Gordon of Irish Independent.
