Healthtech AI Platform Splose Secures $46M
Splose, an Adelaide-based AI platform for Allied Health professionals, has secured a record $46 million investment. The company provides digital solutions to streamline clinical workflows and improve patient care. The new funding will be used to accelerate product development and scale its operations to meet growing demand in the healthtech sector.
- This Series A funding round was led by U.S.-based growth equity firm Spectrum Equity, with participation from Athletic Ventures, a fund backed by elite athletes. - The investment marks the largest venture funding round ever for a software-as-a-service startup founded in South Australia. - Founder and CEO Nicholas Sanderson started Splose in 2016 to reduce the time practitioners spend on administrative tasks and legacy software. - The platform's AI features, introduced in late 2024, include an AI scribe that transcribes therapy sessions and tools that summarize client histories, reportedly making the process of writing clinical notes up to four times faster. - Splose is currently used by over 20,000 allied health professionals in Australia, New Zealand, and the United Kingdom, with usage doubling in the past year. - Prior to this round, the company had raised smaller funding amounts, including a $1 million seed round in 2022 and a $5 million round led by early-stage venture capital firm EVP. - As part of the investment, Matt Neidlinger, a Partner at Spectrum Equity, will join the Splose board of directors. - The rapid growth in the UK market and the launch of its AI capabilities were major catalysts for seeking this larger funding round.
