Preventative healthcare platform Emerald has raised a further £1.4m, taking its total funding to £2.9m.
This additional investment will develop the platform, particularly expanding the artificial intelligence capabilities to provide a more personalised service.
The funds will also support the company’s commercial expansion to achieve the goal of reaching one million members in the next three years.
Half of the funding was a grant provided by Innovate UK, its second award from the organisation.
The other £700,000 was venture capital, which was backed by existing shareholders, including Boost Capital Partners.
This venture capital funding round brought new investors into the business, including Sequel and Highgoal Capital.
Spotting it early
Emerald’s platform helps members spot potential health risks early through combining in-clinic laboratory screening with wearable data and the member’s health history.
The company has processed more than 100,000 laboratory tests, with repeat-screening data highlighting improvements in cholesterol levels for two out of three users, blood sugar levels dropping by a third and reduced inflammation amongst members almost halving.
In the past 12 months it has formed agreements with Pluxee, Epassi, Yonder and other employee benefit, fintech and fitness businesses with the aim of reaching more people.
The right pathways
Emerald chief executive and co-founder Alexander Badalyan (pictured) said a preventative approach to healthcare can empower people to enter the right pathway earlier.
“Achieving this ambition is a cornerstone of the current government’s current health agenda – but the NHS cannot deliver this shift alone.
“Government efforts must be matched with innovative solutions that are able to have widespread reach.
“Emerald has unlocked access to millions of potential users through its partnerships – with ambitions to become the UK’s go-to platform for long-term health management.
“This additional funding allows us to build on the demand we’re already seeing, deepen these partnerships and expand care.”
