ICON Corporate Finance has secured £3m venture funding for Draper & Dash, a healthcare focused data analytics platform that is changing how hospitals and care providers access, understand and work with patient data, from Guinness EIS Fund.
Draper & Dash’s SaaS-based analytics platform uses advanced data science and machine learning techniques to predict patient flow and demand for hospitals and care providers. The platform supports healthcare systems to improve patient flow, drive cost improvement programs, create new strategic partnerships and ultimately improve health outcomes.
Draper & Dash has already successfully deployed its software into over 20 public and private hospitals and healthcare providers in the UK, US and Australia including the Royal Free London, Guy’s & St Thomas’ NHS Trust and Royal Melbourne Health, delivering significant cost savings and operational efficiencies for its clients.
Orlando Agrippa, Founder and CEO of Draper & Dash, said “our software platform business has been accelerating significantly recently and so we are raising capital to scale the business through increased penetration of our existing customers and territories, as well as converting our expanding pipeline of new prospects. We have tripled our AI and ML investment over the last year through a number of long-term projects with existing customers. Our strategy continues to focus on real value creation with better outcomes for healthcare providers and their patients.”
Eddie Harding, Partner at ICON Corporate Finance who advised management on the funding round, added “I’m delighted to have assisted Orlando and his team in raising this venture funding from Guinness. Draper & Dash’s analytics platform makes a real impact in driving efficiencies at healthcare providers globally, and most importantly improving patient outcomes.”
The new investment from Guinness Asset Management EIS Funds will allow Draper & Dash to continue to develop its product offering as well as grow its sales and marketing resource to expand into new territories. In 2019 the company plans to extend the capabilities of its industry-leading AI and ML integration for both its UK and international clients enabling even greater predictive analysis and personalised care for users.
Edward Guinness, Fund Manager at Guinness EIS Fund, commented “We look forward to working on building this business into a substantial contributor to service improvements for both public sector and private healthcare providers. We were impressed by Orlando’s team and have received positive feedback from customers on the Draper and Dash products. Draper & Dash have an attractive proposition that should be in more hospitals and healthcare providers and we hope that our funding will allow the company to extend its reach.
John Spearman, Chairman of Draper & Dash, added: “This is an important step for D&D. The value and potential of the company has been recognised now, not just by enthusiastic early investors, but also by a highly respected and well known fund.”