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Spectrum.Life Secures €17M for Digital Health

Meet Spectrum.Life, an Irish healthtech pioneer providing cutting-edge digital health & more, unveiled a €17M investment
May 28, 2024

Irish healthtech innovator Spectrum.Life has made waves with its groundbreaking digital health solutions, and now, they're taking a giant leap forward with a €17 million investment round.

Currently serving a staggering 7.2 million individuals in the UK and Ireland, Spectrum.Life's reach extends across multiple insurers, 3000 corporate clients, and 50 UK universities. With over 260 dedicated team members, including 125 clinicians, the company's presence is felt, with half of its workforce stationed in the UK.

Since its inception in 2018, Spectrum.Life has seen remarkable growth, boasting a solid 60% revenue increase in 2023 and projected to exceed 50% growth again in 2024, with the majority of new business stemming from international markets.

Stuart McGoldrick, the Executive Chairman and Founder, emphasized the milestone's significance, highlighting the industry's shift towards embracing integrated Healthtech solutions for insurers, educators, and employers.

"We are building our company sustainably, with profitability at the core of our focus," McGoldrick emphasized, hinting at the company's ambitious goal of reaching €100 million in revenue by 2028.

Act Venture Capital spearheaded the funding round, joined by existing investors, underlining their confidence in Spectrum.Life's vision. Debbie Rennick, General Partner at Act Venture Capital, expressed excitement about supporting Spectrum.Life's journey, praising its potential to positively impact global mental and general health.

With the infusion of €17 million, Spectrum.Life is gearing up for rapid expansion, planning to recruit over 100 new talents within the next 18 months, further accelerating its growth trajectory.

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