Elemental Software raise £300k for their Social Prescribing Platform
by Startacus Admin
Tech For Good Company, Elemental Software, which has developed an award winning social prescribing digital platform that connects patients, health and social care professionals and community health & wellness providers, announced today that it has raised £300,000 with the help of ClearlySo, Europe’s leading impact investment bank.
Elemental's platform is a comprehensive social prescribing solution developed by community development experts that measures the impact of social prescribing and the difference that non clinical solutions can make to the health and wellbeing of communities, which is a growing priority at the highest level in government and rapidly being adopted in the UK.
Leeann Monk and Jennifer Neff, co-founders of Elemental Software, said: “We are absolutely delighted that ClearlySo plugged into the Elemental vision for revolutionising the ability to socially prescribe across the health, social care and third sectors. The investment partnership, created by London based Clearly So, engages social impact investors who each bring a wealth of knowledge, expertise and resource to help us solve one of the most pressing health and social care challenges of our generation.“
More than 80% of the world’s chronic conditions can be avoided by lifestyle change alone.
Despite this, chronic conditions such as type 2 diabetes, mental health related illness and heart disease are rising and so too are costs. In the UK alone, the NHS, which has a funding gap estimated at £22bn by 2020, is spending £7 out £10 in treatment of conditions while GPs capacity is strained.
The key aim of Elemental's Social Prescribing platform is to demonstrate the value and difference that referrals to local exercise, diet and nutrition and mental support can make to peoples’ lives. The Derry based business was previously awarded the ‘Best Tech in the 3rd Sector’ of 2016 by Digital DNA and the best enterprise software at INVENT 2016.
Further commenting, Stefano Cappanari, investment manager at ClearlySo, said: 
“We were very pleased to play a role in helping Elemental scale the “more than medicine” approach to health. From grass-roots Jennifer and Leeann built a business around the patient, health and social professionals, community based providers and Commissioners and we are excited that the capital raise, which closed in record time, and capabilities from our network will allow them to take the next step in transforming our care system for better.”
Mary McKenna, Director at Elemental Software, first introduced the company to ClearlySo, and concludes "I look for startups with that magic combination of knowledgeable and credible founders, a great product and a large and ready market opportunity. Elemental Software has all of that and more.
This investment round will allow Elemental Software to reach that huge social prescribing market at lightning speed. It gives me great pleasure to support economic growth in the NW of Ireland by backing a local company that is without doubt destined for global success".
We first interviewed Jennifer and Leeann from Elemental Software back in March 2016, after they had just arrived back from the Mobile World Congress and it's really great to have followed their progress over the last 16 months to this point.
We look forward to hearing more from Leeann, Jennifer, Mary and the rest of their growing team, over the coming months to catch up on all their plans and progress, and we wish them well for the exciting journey ahead! Congrats team - we are made up for you!!
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Published on: 19th June 2017
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