Digital healthcare provider Spectrum.Life Seals funding round

Spectrum.Life, one of the fastest growing in Europe digital health healthcare providers has secured significant funding for its plan to bring its digital healthcare solutions to new markets.

The €17 million investment will help fund the company’s growth, which is strongest in Britain, which – although it only launched there in 2020 – now accounts for more than 50% of turnover, with growth there exceeds 200% in the past twelve months. .

Spectrum.Life provides digital health, mental health and wellness solutions to insurers, universities and corporations, and their workforces.

The company wants to expand into new international markets.

Founded in 2018, the company saw 60% revenue growth in 2023 and is expected to exceed 50% growth this year.

Since launching into the UK market in 2020, the company has built an impressive list of insurance, corporate and university clients and will have more than 50% of sales in the UK market by 2024.

The company cares for 7.2 million people in Great Britain and Ireland, across multiple insurers, 3,000 business customers and 50 British universities.

It employs 260 people, including 125 doctors, half of whom are based in Great Britain.

Spectrum.Life wants to expand digital healthcare

With the help of the investment, Spectrum.Life will look to recruit a further 100 people over the next 18 months, strengthening its team of experienced doctors and professionals. It has also recently strengthened its board, with Dr Paula Franklin – former Global Chief Medical Officer of Bupa Group, chairing the company’s clinical advisory board.

Stuart McGoldrick, executive chairman and founder of Spectrum.Life, said: “With this new investment, we can now realize our ambitious plans to become the market leader in digitally delivered healthcare.

“We are a second-generation digital healthcare provider and believe our blend of clinical insight and track record of scaling digital technologies represents an opportunity to revolutionize healthcare.

“Our goal is to increase patient satisfaction and outcomes, within a commercially sustainable model that actively contributes to healthcare transformation and, critically, accessibility.”

He added: “This milestone not only marks a significant achievement for Spectrum.Life, but also signals the broader market’s shift towards embracing integrated healthtech solutions that deliver digital healthcare transformation for insurers, educators and employers.”

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