Orcha is planning to double its headcount and expand across Europe and the US, following a new £1m investment.
The Cheshire digital health-tech specialist has received the funding from Maven Capital Partners.
“We are delighted that Maven chose to invest in ORCHA and our vision to improve the lives of people with the best digital health,” said Liz Ashall-Payne, CEO and Co-founder at ORCHA.
“The market is growing exponentially, and with Maven’s help, we are better placed to ensure people access only safe and effective products that will improve health systems and change lives.”
The company assesses and distributes digital health, to enable private, local, and national health systems to adopt digital solutions and support healthcare professionals to prescribe digital health apps to patients.
Its products are currently used in 12 countries and annual recurring revenue has increased 300% in the last year.
The Maven investment will be used to develop a US operation and increase its presence in Europe. It also plans to double headcount to 150 staff by Spring 2023.
“We are delighted to be partnering with Liz and her experienced management team to fulfil ORCHA’s exciting growth ambitions. The business has created a truly unique platform that has both the potential to be a market defining offering and also improve the lives of millions of patients, globally, that are currently under-serviced by digital health,” added Dean Cox, Investment Director at Maven.
“Coupled with strong market tailwinds, we believe ORCHA is well placed to capitalise on the heightened demand from national and local healthcare providers, both in the public and private sectors, for accreditation and assurance in digital health.”
