TELEMEDICINE firm Vala Health is well on its way to a £2.3m funding seed round which will value the company at very healthy £14.8m.
There has already been a significant interest in this round of seed funding which will be used for further growth of the UK operations, which has grown in size by five times since March 2020. This impressive growth is due in part to increased demand as a result of coronavirus, but also because of the excellent reputation Vala Health has built which has led to a positive Net Promoter Score and a member-get-member virality.
London-based Vala Health offers on-demand appointments with primary care clinicians on its platform. It also provides a corporate service including occupational health, which has proven vital to firms dealing with a range of staff issues intensified by the coronavirus pandemic.
The seed money will also be used to expand the service into Asia Pacific and Africa where there is a vast amount of interest in Vala Health already.
Vala Health CEO, Pete Trainor said, “We have recently launched this seed round but I am pleased to say there has been a huge amount of interest in the business.
“We have seen significant growth and built a good reputation which will give us a good mandate to build on UK operations and expand into Asia Pacific and Africa, where we have identified a massive need and desire for what Vala Health can offer.
“This seed round will enable investment in the core team and new clinicians. A large chunk of investment will also be used for upgrading our tech stack to include a data driven salutogenic model to support our clinicians.”
Pete says at this stage Vala Health is only interested in hearing from private investors and not venture capital (VC) firms. But in the second round of fundraising, which will come in 2021, they will be opening to include VC firms to grow the business into a billion-pound global healthcare platform.
Pete added, “Vala Health is not the only firm working in this space but what sets us apart from the competition is we take a holistic approach to our patients. We offer so much more than just one-off treatment for specific problems, as prevention is at the core of everything we do.”