A Scottish HealthTech startup that has been described as a ‘Facebook for Care’ by industry commentators is opening a Silicon Valley office after impressing US venture capitalists including tech doyen Sir Michael Moritz of Sequoia Capital, the VC that invested almost $200 million in Skyscanner in 2013.
Headquartered in Glasgow, StoriiCare develops software for care staff to record their care activity and for families to connect to their loved ones. Winner of the 2016 WeAreTheFuture Silicon Valley pitching competition, StoriiCare founder and CEO Cameron Graham travelled to California in April where he had the opportunity to pitch in person to Sequoia Capital Chairman, Sir Michael Moritz and a number of other leading venture capitalists.
Cameron Graham said: “We were thrilled to get the chance to pitch to Michael Moritz and it was massively encouraging that he was so supportive of what we’re trying to do at StoriiCare and that Sequoia would be interested in investing on the back of a bit more traction in the business.”
StoriiCare has launched a crowdfunding campaign on Seedrs and is also planning a series A round in the region of £3-5 million for 2018. The funds will be used to support product development, including the startup’s award-winning StoriiCare platform, and to build upon the sales and management function in the business including in the US. Robert Kilgour, founder of Four Seasons Health Care, an investor and director in the company, said: “I believe StoriiCare and the team behind it are onto something big. I look forward to supporting the team and to an exciting and productive future.”
Cameron Graham said: “The US is the largest healthcare market on the planet and we’re now winning our first contracts stateside which is a massive boost on top of the business we’re already doing in the UK. Overall, our aim is to set the gold standard for what we describe as person-centred care.”
“There are 20,000 care homes in the UK and around 60,000 in the US. The US market alone is a billion dollar market for us. The sector has been slow to embrace technology, relying on paper-based systems as technology advances in other sectors worldwide. In the past two years, large care groups and healthcare providers have installed wifi. As a result, our experience is that providers are looking at technology to evidence care for the first time.”
Founded in 2014 by Cameron Graham, StoriiCare is looking to set a new gold standard for ‘person-centred’ care and to help those in care build their life stories, leading to care staff referring to the app as ‘the Facebook for Care’.
Cameron Graham said: “With a worldwide ageing population, and an increasing demand for tech within the care sector, there is a real growing need for StoriiCare. We’re leading the way in modern reminiscence therapy.”
“The care sector has strict regulatory bodies that require detailed records to be kept, which can lead to staff spending hours completing arduous paperwork. With StoriiCare, paperwork is digitised and repetition reduced significantly, with staff saving on average 6 hours a week through the platform.”
“We originally started off as a life story app solely for reminiscence, then after listening to feedback and requests from early clients, we realised there was so much more we could add to improve the quality of care provided.”
This month, Cameron Graham was named an ‘Innovator in Care’ for 2017 by leading industry site Care Home Professional.