Navenio, the healthcare efficiency pioneer born out of Oxford University, has just secured a substantial $6.3 million in funding to further its mission of revolutionizing healthcare. Building upon its successful 2021 Series A round of £9 million, this latest investment, led by Oxford Science Enterprises, reaffirms Navenio's commitment to enhancing healthcare delivery in the UK and expanding its reach into the US market and beyond.
At the core of Navenio's innovation is its ability to track the movements of healthcare professionals within hospitals, enabling intelligent task allocation. The unpredictable nature of healthcare often requires on-the-fly prioritization of patient needs, and Navenio's technology steps in to optimize resource management. The system leverages existing smartphone sensors to locate personnel within a few meters, combining this data with qualifications, competencies, and availability to efficiently coordinate patient care.
Navenio's approach is akin to an "Uber for health," streamlining patient care requests and assigning the most suitable healthcare worker based on skills and proximity. This not only enhances the patient experience but also optimizes the allocation of healthcare professionals, improving overall efficiency.
The technology, stemming from research at the University of Oxford, operates within stringent privacy and security parameters demanded by healthcare settings. It addresses a long-standing challenge in healthcare: matching available skills and resources with patients' needs. Its potential has garnered significant attention, including an NHSX Innovation Award.
What sets Navenio apart is its modular and versatile approach. It encompasses mapping, locating, assignment engines, tasking engines, and user applications. This holistic system considers factors like proximity, service-level agreements, priority, and balanced workloads to ensure the right person is assigned to the right task.
The impact has been transformative, with the University Hospitals of Leicester NHS Trust reporting a remarkable 66% increase in efficiency among its portering teams. Navenio's technology has improved patient flow and experience, earning enthusiastic adoption from healthcare teams.
Navenio's funding will propel its expansion plans, beginning with entry into the US market and diversification into sectors like facilities management. The company is already in advanced discussions with potential partners for these ventures.
As Navenio continues to grow, so does its team. With a current workforce of 50 in Oxford and an additional five in the US, the company places a strong emphasis on diversity, both in its senior management team and throughout the organization. Navenio's focus extends beyond just demographic diversity; it values diverse thought and actively seeks team members who bring dynamic perspectives and vigorous debate to the table.
Navenio's technology has the potential to transform healthcare by reducing appointment cancellations and streamlining patient care, ultimately benefiting both patients and healthcare systems alike.