The founder of online bank Monzo has helped a company working to tackle the NHS staffing crisis raise £20m alongside a group of private equity firms.
Tom Blomfield has backed Patchwork Health in a Series B funding round as well as Social Chain co-founder Dominic McGregor and Perwyn, Praetura Ventures and KHP Ventures.
Founded in 2016 by NHS medics Dr Anas Nader and Dr Jing Ouyang, Patchwork partners with over 100 healthcare sites across the UK.
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CEO Dr Nader said: "NHS staff are resilient, resourceful and deeply committed to their work. But they’re not super heroes. As the world of work shifts around them, NHS staff are locked into rigid schedules whilst demand escalates.
"This is pushing clinicians out of healthcare careers as they’re too exhausted to continue. And that heaps further pressure on those who remain. It’s a vicious cycle we can ill-afford.
"Too many clinicians have, like myself and my co-founder, found themselves trapped in a schedule which can grind you down and push you out of a career you love.
"NHS staffing isn’t working for NHS staff; but it can be fixed with the right tools. At Patchwork, we work closely with NHS organisations to design technology-powered solutions that allow all staff to have their needs, preferences, and wellbeing put front and centre of workforce strategies.
"Our solution gives the NHS the power to make this sustainable staffing a reality, whilst improving staffing levels and safeguarding the quality of patient care.
"We’re so grateful to Perwyn and all the investors involved in this round for enabling us to scale up this mission and help even more healthcare professionals work in a sustainable way."
Martin le Huray, partner at Perwyn, added: "Anas, Jing and their team are building a truly game-changing solution for the NHS. The traditional way of staffing our NHS is outdated and is contributing to the pressures our health service is facing.
"Their track record of working closely with the NHS to affect change is very impressive and we are delighted to have led this round. We believe that Patchwork is well on its way to playing a pivotal role in creating a stronger, more sustainable healthcare system for future generations."
David Foreman, managing director at Manchester-headquartered Praetura Ventures, said: "As long-standing partners of Patchwork, we want to continue to support their team as they scale. Their team is motivated by a unifying purpose: to make life better for NHS staff and to secure better outcomes for patients.
"This fuels everything they do and is the passion behind their ongoing success. We can’t wait to continue on this journey with them as they go from strength to strength."
Daniel Dickens, co-managing partner at KHP Ventures, added: "As an early-stage fund anchored by one the UK’s largest healthcare systems, it was a natural fit to support two brilliant clinical entrepreneurs in Anas and Jing, and their talented team, to scale a platform that addresses one of the biggest challenges facing the NHS.
"We were incredibly impressed with their roadmap and traction to date, and look forward to working with Patchwork’s team and our partners to help accelerate their growth and impact for NHS staff and patients."
Perwyn was advised by Squire Patton Boggs (legal), Crosslake Technologies (tech), Deloitte (FDD and tax), PwC (CDD), and Pearson & Pearson (Advisory).
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