Growth11 May 2023

IbisVision secures £4.5m in growth funding led by Compiler VC to fuel US expansion.

The Glasgow-based ophthalmic technology company has raised £4.5m from Compiler VC, Deepbridge, and Scottish Enterprise.

£4.5MGrowth

IbisVision develops remote ophthalmic technology that allows optometrists to conduct standard eye examinations over the internet. Its cloud-based platform provides software solutions for online refraction, visual acuity, and other clinical assessments.

Glasgow-based ophthalmic technology company IbisVision has secured £4.5m in growth funding led by Miami-based Compiler VC, with participation from existing backers Deepbridge and Scottish Enterprise. The fresh capital will be deployed to double the firm's workforce and establish a new office in Fort Lauderdale, Florida, as the business targets commercial expansion into the United States and European Union markets.

The raise follows IbisVision receiving Food and Drug Administration listing in March, positioning the company to scale operations within the American healthcare sector. The business offers a cloud-based software delivery model that lets optical professionals perform standard eye tests remotely without direct patient contact.

From the founder

"The commitment of our investor base shows they believe strongly in our story — that eyecare will be at the vanguard of remote healthcare, and IbisVision has the technology to make this a reality. Our mission is simple – to make eyecare readily available for anyone on the planet and that distance and time will never be an impediment to getting to an eye appointment."

Mark Roger

CEO at IbisVision

Investor perspective

"Not only are we delighted to build on our investment relationship with IbisVision, we’re also very excited about their plans to expand and set up base in our home market in the US. We know the potential that this technology can bring to optometrists around the country and our expertise in the eyecare industry means that we can help IbisVision with its growth plans. But our ambitions for IbisVision extend well beyond the US and we believe the company’s technology could become the global standard for remote eyecare examinations."

Adam Wolman

General Partner, Compiler