Lifestyle monitoring company Lilli, today announced that it has raised £8.2 million in Series A financing, a 37 percent increase in its initial target. It brings the company's funding to £12.7 million.
Lilli is pioneering the shift from a reactive to a proactive care model. Through smart, non-intrusive technology and proprietary AI and machine learning (LLM), Lilli observes patterns and trends among users to equip care workers with clear and accurate insights into wellbeing and what is happening in the home.
This supports accurate decision-making and means behavioural changes can be easily identified before conditions become acute, improving health outcomes and reducing hospital visits.
The technology is already helping throughout the UK health and social care system in the UK, with evidence from local councils showing that organisations using Lilli can expect to save up to £9 for every £1 spent, generate thousands of additional carer hours and see hospital discharge rates sped up by up to 16 days.
In the longer-term, independent economic analysis predicts that, by 2035, it could deliver benefits that are the equivalent of employing an additional 10,000 full-time carers in the UK.
Today’s funding was led by West Hill Capital and will support the company’s growth trajectory and mission to help people to live safely and independently in their homes for longer.
The funds will also enable the company to explore deeper avenues into AI insights and reporting and support Lilli to launch a friends and family version of the app.
Gren Paull, Chief Executive Officer at Lilli, said:
“This latest financing powers Lilli with the funds needed to accelerate our mission of bringing the benefits of remote monitoring to more people within the UK and internationally.
The sector is in a well-documented state of crisis, and we have empirically proved how we can alleviate pressures of diminishing budgets, resources and even bankruptcy that local governments are facing. This success and evidence is what has delivered investor confidence and powered this oversubscription."
Mark Hickson, Managing Partner at West Hill Capital, adds:
“Lilli’s data driven digital healthcare platform has the potential to revolutionise how social care is delivered, utilising innovative technology to provide substantial productivity gains and cost savings for local authorities and healthcare providers.
The capital raised in the offer provides resources to enable Lilli to meet growing demand and to rapidly scale this technology with a view to improving the quality of life for people across the UK and then worldwide.”
Lead image: Lilli. Photo: uncredited.