Digital care record provider Log my Care has raised £3.25m in a funding round led by Mercia, along with Oxford Capital and some angel investors.
With its platform now used by over 800 care providers, supporting 10,000 people each week, Log my Care has increased monthly recurring revenue by almost 300 per cent in the past 12 months and increased its staff numbers from six to 24.
Having previously raised £1m from angel investors, the latest funding round, also joined by angel investors Alexander Limpert, Matthew Westerman and Steven Meersman, will enable Log my Care to strengthen its foothold in the UK market, enhance the platform further, and explore new opportunities internationally in line with its mission to become the world's leading digital care management platform.
Alex Gwyther of Mercia said: "While many care providers are still using paper, there is growing pressure from regulators and government for them to go digital. Log my Care provides an easy-to-use solution that covers all the bases and is affordable even for smaller providers. The company has been expanding rapidly and this new funding will further boost its growth. We’re looking forward to supporting Sam, Adam and the team as they help improve social care across the UK and beyond."
Stephen Hampson, investment director at Oxford Capital, added: "We’re really proud to have backed founders Sam and Adam on their mission to deliver an outstanding care management system in a sector which is fragmented, analogue and under-served by its legacy products. At Oxford Capital, we’re passionate about backing early-stage companies in sectors the UK is considered a world leader and we’ve got a growing number of digital health companies in our portfolio. The team have already made huge strides to build the business and we’re looking forward to supporting them on their growth journey."
