The funding round was led by GV and will be used to expand the company assurance platform and launch insurance products.
"At a time of ongoing uncertainty, our goal is to provide confidence in a sector notorious for struggling to stick to deadlines or budgets. By using some of the most powerful machine learning capabilities in the world to analyse what worked and what didn’t in past projects, we can help our customers work out what’s going to derail their own initiatives, and stop problems happening before they even appear."
Triple Point Ventures led the pre-series A round, which will help expand the company's platform across the UK and Europe.
"At GripAble, we know this market better than anyone and understand that any solution must be therapist driven and must allow them to engage and empower their patients to self-manage beyond standard therapy hours. This need for remote therapy has been greatly accelerated by COVID-19."
The digital ecosystem secured £865k through a crowdfunding campaign that surpassed its initial target.
"We are delighted to see so much interest in our platform that we raised almost 75% more than we targeted on Crowdcube. We are very pleased to welcome our new investors and to receive the continued support from our current shareholders. The new funding will enable us to continue expanding our customer base in the UK and other regulated markets. It also allows us to further develop our unique technological advantages that lawyers find so useful in making verification and regulatory filings much more efficient than is possible with current methods. With these advances and the interest we are seeing from stock exchanges, we are moving a step closer to realising our vision of building a single digital ecosystem for capital markets."
The financing round was led by BGF with participation from new and existing backers to support clinical development.
"We are thrilled to include this exceptional group of investors in PhoreMost’s Series B funding round. We are grateful for the continued support of existing investors and are delighted to welcome BGF, alongside strategic investors XtalPi with whom we have a highly valued ongoing research collaboration, and Astellas Venture Management."