Smedvig Capital lead $8.3m Series A investment in Heydoc to accelerate growth and future international expansion
Today we are excited to announce our investment in Heydoc, an integrated clinical operating system and electronic health record. We first started speaking to the Founders, Christoph and Mikael, in 2019 and recently led the $8.3m Series A round along with existing investors Hambro Perks, Triple Point Ventures, and InHealth Ventures, bringing the total amount raised to date by Heydoc to $12m.
Background
Heydoc’s mission is to improve healthcare by empowering clinical teams with an all-encompassing operating system that provides a full suite of features for clinicians and support staff, covering both medical and administrative tasks. It also connects its clinic customers with various other healthcare providers (e.g. hospital groups, pathology services, pharmacies, etc.), ensuring data liquidity and tackling a major challenge in healthcare, the lack of systems interoperability.
Since going live in 2018, Heydoc has been working with clinical teams to consistently improve the quality of their care delivery. Over the past 18 months Heydoc have accelerated rapidly helping clinics to embrace remote consultations throughout the pandemic and capitalising on a broader switch to cloud-based workflow systems. They have gained rapid traction through word-of-mouth referrals and now serve thousands of clinicians and administrative staff across the UK.
Why Heydoc and why now?
The rationale behind out investment can be boiled down into 5 key reasons:
1. The market for private healthcare is growing very rapidly in the UK, as is the adoption of tech tools within state funded healthcare
2. Heydoc’s innovative, user friendly software solves core workflow issues for clinicians
3. It transforms both the clinician experience …
4. … and the patient experience, providing a vastly improved offering compared to existing legacy solutions
5. Christoph and Mikael are brilliant, mission orientated founders who are on a journey to create better healthcare experiences
What’s next?
The new funding will be used for further expansion in the UK healthcare market, where Heydoc is rapidly growing, and to expand its product offering to its existing and new clients. It will also allow Heydoc to expand internationally beyond their current nascent international footprint and to grow the team. Jon Lerner and Peter Duffy will be supporting Heydoc from Smedvig.
Christoph Lippuner, Co-Founder & CEO at Heydoc, commented on the investment: “We’re very excited to have Smedvig Capital as a partner in this new chapter of our adventure. This new raise will help us accelerate our growth in the UK, focus on our product and expand its capabilities, as well as go after international markets. Innovating and contributing to a transforming healthcare industry, profoundly impacted by regulatory changes, new patient expectations and a global pandemic, is both fascinating and rewarding. There is so much to be done in this industry and Heydoc is barely scratching the surface.”
Jon Lerner, Managing Director at Smedvig Capital, added: “We are delighted to invest in Heydoc and partner with Christoph and Mikael. Heydoc has grown rapidly and proven that its platform can dramatically improve the way clinicians work and the quality of patient interaction. The company has a strong mission-based culture and a huge opportunity in front of them to be part of the future of healthcare. We’re looking forward to supporting them in achieving this goal.”
