Manchester-based Praetura Ventures led the funding round to help the Leeds technology firm enhance its product and expand its client base.
"RapidSpike is one of the most exciting young businesses in the North’s tech scene, with a unique platform that allows businesses to build safe, reliable and secure ecommerce websites. We have all seen the huge financial and reputational impact cyber breaches can have on businesses. RapidSpike is well-placed to support the growth in ecommerce and help to protect against the rise of cybercrime and particularly the Magecart threat."
— Sim Singh-Landa, Head of the GMC Life Sciences Fund by Praetura
The extended Series A round was led by MMC Ventures and Praetura Ventures to support commercial growth and research.
"It has the power to optimize entire business models, in real-time, and drive both growth and profitability. We believe that AI is so crucial to the future of the enterprise that it demands its own central business system. Just like every business needs an ERP or CRM system, every business now needs an AI System to compete in the modern era."
Praetura Ventures led the seed round with participation from GC Angels to accelerate product development and market expansion.
"Recent high-profile events concerning bullying and harassment have ignited a long-overdue public debate about how we behave towards each other, both in society and, more specifically, in the workplace."
The investment round was led by Praetura Capital with backing from Boundary Capital Partners and other investors.
"The UK alone spends £3.1bn on treating chronic wounds each year, while the US spends $50bn. Add to this the significant escalation in costs, not to mention the considerable distress to patients and families if the only course of treatment for non-healing wounds is amputation. It’s clear that there’s a real need for innovation in this area."
The funding round was led by Praetura Ventures with participation from BMJ and angel investors.
"Those best placed to solve the challenges facing our healthcare system are the people who have worked on the frontline. Jing and I both struggled to maintain a healthy work-life balance as junior doctors, and we watched countless colleagues step away from full-time practice and into the world of locum agencies as a result of the daily pressures faced by medics. We felt there must be a better way of doing things; one where the NHS could staff wards safely and affordably, and where healthcare workers could find the right working balance for them, without the need for an expensive middleman. That’s why we created Patchwork."
