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Software platform raises £3.25m to help care sector ‘go digital’

Investors in this round: Led by Mercia with Oxford Capital and angel investors participating

Log my Care – a fast-growing company whose software platform enables care homes and social care organisations to ‘go digital’ – has raised £3.25m in a funding round led by Mercia, with Oxford Capital and angel investors also participating.

Log my Care enables carers in any setting to replace paperwork, easily find patient records and save time through the use of a mobile app. The platform, which saves carers up to an hour per shift, harnesses data to create personalised care plans and helps organisations improve how they run.

The only UK product of its type that offers a freemium model, Log my Care has been rapidly growing its client base. It is now used by over 800 care providers of all sizes, supporting 10,000 people each week.

The London-based company has increased monthly recurring revenue by almost 300% in the past 12 months and increased its staff numbers from 6 to 24.

Log my Care was founded in 2017 by former University of Oxford students Sam Hussain and Adam Hurst with the aim of making technology accessible to everybody in social care. Sam previously worked for a Singapore-based care management platform and felt he could bring consumer-quality software to the care sector at an affordable price.

The company has previously raised £1m from angel investors to help make it a best-in-class platform. 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.

Mercia was investing from its Northern Venture Capital Trusts (VCTs). 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, 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.”

Alexander Limpert, CEO & Co-Founder of GuestReady said he was:

“Excited to get behind a mission-driven business that’s looking to make social care easier, better and more affordable. Digitalisation in care is lacking and there’s plenty of room for growth. The sector needs more modern tools and Log my Care is revolutionary compared to existing solutions.”

 

ENDS

Note to editors: See our video interview with Log my Care founder Sam Hussain – please feel free to include this link within your story.

About Log my Care

Founded in 2017 by Sam Hussain and Adam Hurst in response to the growing pressure on the UK care sector, Log my Care is the platform for outstanding care management. It gathers insights to help care providers allocate resources and speed up day-to-day tasks, so they can focus more on delivering person-centred care. Log my Care’s Starter Plan is free to use, making it the only free care management platform on the market.

Easy and intuitive, it can be used in any setting, without the need for extensive training. Designed alongside support workers and service users, it’s the platform of choice for enriching the lives of everyone in care.

Website | LinkedIn | Facebook | Twitter

 

About Mercia Asset Management PLC

Mercia is a proactive, specialist asset manager focused on supporting regional SMEs to achieve their growth aspirations. Mercia provides capital across its four asset classes of balance sheet, venture, private equity and debt capital: the Group’s ‘Complete Connected Capital’. The Group initially nurtures businesses via its third-party funds under management, then over time Mercia can provide further funding to the most promising companies, by deploying direct investment follow-on capital from its own balance sheet.

The Group has a strong UK footprint through its regional offices, 19 university partnerships and extensive personal networks, providing it with access to high-quality deal flow. Mercia currently has c.£940million of assets under management and, since its IPO in December 2014, has invested c.£111million gross into its direct investment portfolio.

The Group raises its own Enterprise Investment Scheme (EIS) Funds and manages Venture Capital Trusts (VCTs) details about open offers can be found through Mercia’s website.

Mercia Asset Management PLC is quoted on AIM with the epic “MERC” and includes the following wholly owned subsidiaries –

 

  • Mercia Fund Management Limited is authorised and regulated by the FCA under firm reference number 524856
  • Enterprise Ventures Limited is authorised and regulated by the FCA under firm reference number 183363
  • EV Business Loans Limited is authorised and regulated by the FCA under firm reference number 443560

 

www.mercia.co.uk

About Oxford Capital

Established in 1999, Oxford Capital is an alternative investment manager that is passionate about investing in early-stage technology enabled companies.  For over 20 years, it has offered private investors and family offices the opportunity to invest in a portfolio of unquoted UK companies that have the potential to grow rapidly.  It works in partnership with founders and their teams to grow their businesses and deliver meaningful impact.  Based in Oxford and London, it is at the heart of Europe’s most exciting technology clusters.  Visit us on our website, Twitter and LinkedIn

£3.25m

Software platform raises £3.25m to help care sector ‘go digital’

Software platform raises £3.25m to help care sector ‘go digital’

By Oxford Capital Oxford Capital Profile 03 Nov 2022