Awell secures USD 5M from Octopus Ventures, S16, Lord David Prior

Awell is eyeing up the US healthcare market, after the company secured $5m in funding for its clinical workflow platform.

The seed funding, led by Octopus Ventures with participation from S16, will support expansion in the US and creation of new products. Awell also said the backing, which included funding from angel investor Lord David Prior, former chair of the UK’s National Health Service (NHS), will be used for R&D investments.

Awell’s software aims to modernise paper-based workflows by providing a framework to manage a patient’s care on one platform. In a statement announcing the funding, the company pointed to a study which highlighted that paper-based documentation was perceived to be the greatest time waste of doctors’ and nurses’ time.

Awell offers triaging, patient onboarding and care plans on its platform. It can also bring data together from different systems.

The Belgium digital health company stated its monthly active patient numbers grew by 522% in H1 2023.

Awell’s CEO and founder Thomas Vande Casteele said: “Overwhelmed doctors wade through endless admin, patients juggle a different point solution for each medical condition, and care teams are forced to stay up-to-date with more medical research than they can handle.”

“Our journey is inspired by these challenges faced by care teams across the world. We are on a mission to drive real change in the sector, supporting those on the frontline of healthcare by making care flows work harder than care teams.”

Despite the proliferation of digitised healthcare management solutions, there has been industry wariness about cybersecurity risk as more patient data becomes electronically stored. There were numerous patient data leaks from health platforms in 2023 – the largest being HCA Healthcare’s data breach affecting 11 million patients. Medical Device Network