Live at home care enabler Lilli secures £8.2m
Lilli, which provides technology and services to enable people with health problems to live at home, has raised £8.2 million in Series A financing led by West Hill Capital.
Lilli raised £4.5 million in Pre-Series A funding in March 2021 also led by West Hill Capital.
Through smart technology, AI and machine learning, Lilli observes patterns and trends among users to provide care workers with insights into what’s happening to people in their home.
Lilli stated it will use the financing to scale up across the public and private health and care sector, explore deeper AI insights and reporting, and launch a friends and family version of its app to provide next of kin or informal carers with access to real-time information and reassurance about their loved one’s wellbeing, for instance if they’re eating regularly, keeping their home warm and bathing.
Gren Paull, chief executive at Lilli, said: “This latest financing powers Lilli with the funds needed to accelerate our mission of bringing the benefits of remote monitoring to more people within the UK and internationally. Our focus has remained unwavering in allowing people to live safely, happily and independently at home for longer, keeping them connected to their communities and circles of support, whilst reducing the burden on an overwhelmed and under-resourced health and care sector.
“The sector is in a well-documented state of crisis, and we have empirically proved how we can alleviate pressures of diminishing budgets, resources and even bankruptcy that local governments are facing. This success and evidence is what has delivered investor confidence and powered this oversubscription.”
Mark Hickson, managing partner at West Hill Capital, added: “West Hill is delighted to have led the second consecutive oversubscribed funding round for Lilli since 2021, which shows continued and growing interest in the company in today’s market. The business is on an exciting growth trajectory and winning numerous contracts in quick succession. Lilli’s data-driven digital healthcare platform has the potential to revolutionise the way in which social care is delivered, utilising innovative technology to provide substantial productivity gains and cost savings for local authorities and healthcare providers.
“The capital raised in the offer provides resources to enable Lilli to meet growing demand and to rapidly scale this technology with a view to improving the quality of life for people across the UK and then worldwide.”