Digital health company Wellola today announced the successful closure of a €2.2 million funding round, bringing its total funding to date to €4 million.
Founded in 2016 by healthcare clinicians in Ireland, Wellola develops patient management solutions, including the award-winning platform Portasana®.
It provides hospitals and community-based clinics with the digital communication tools needed to deliver healthcare outside of a hospital setting.
In a representative evaluation of over 600 patients across the UK using education courses featured on the platform:
- 95 per cent Have a better understanding of their conditions
- 91 per cent Feel more confident about managing their condition
- 88 per cent Feel more confident about what to do if their condition gets worse
- 59 per cent Have been to hospital less frequently
Major healthcare organisations, including Leeds Teaching Hospitals NHS Trust, the North East London Foundation Trust and Birmingham Community NHS Trust, have already deployed Wellola’s award-winning Portasana® platform.
Portasana® has enabled one NHS Trust department alone to reduce the need for return appointments by 30 per cent, saving it approximately £325,000 a year.
According to Sonia Neary, CEO at Wellola:
“At Wellola, we are transforming healthcare delivery for both patients and health professionals through fully interoperable innovation.
Digital interventions like ours can address health inequalities by being scalable, affordable, and accessible.
This investment will enable us to further enhance our Portasana patient care and communication platform and expand our footprint across the UK.
It will ultimately empower healthcare professionals to deliver more efficient, effective, and personalised care to their patients."
Elkstone leads the investment with additional funding from Enterprise Ireland and Bay Advisory.
Barry Brennan, Partner at Elkstone, said:
“Wellola is revolutionising how hospitals and clinics care for and communicate with patients. As Ireland’s largest early-stage venture fund, we always look for innovative Irish founders making an impact both at home and abroad.”
Ruth McAvoy of Enterprise Ireland said:
“Wellola has developed an international reputation for innovation and service delivery, and Enterprise Ireland is proud to support this funding round. This will allow Sonia Neary and the Wellola team to continue expanding in the UK and Europe.
Wellola’s technology benefits patients and healthcare systems and will play a critical role in the rapidly evolving healthcare sector."
Wellola will use the funds to accelerate market expansion across Europe and plans to recruit technical and operational staff across Ireland and the United Kingdom.
Lead image: Sonia Neary, CEO and founder Wellola; Niall McEvoy, Venture Partner Elkstone; and Ruth McAvoy, Senior Development Advisor Enterprise Ireland. Photo: uncredited.
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