Florence, the UK-based technology innovator for social care, announced it has raised $35 million (£28.5 million) through a Series B funding round. Florence will use the investment for product expansion to support care in the UK and multiple international markets, and to expand its services beyond elderly care. The Series B round was led by Axa Venture Partners with participation from Roo Capital and existing backers SEEK Investments.
How will Florence use the funding?
“We believe everyone should have the care they deserve. We see this as an investment in solving the issues our broken system faces on a daily basis, which impact vulnerable people in our society. With an expanded scope, we are positive we can help revolutionise care at a greater pace than ever before,” said Dr. Charles Armitage, Florence co-founder.
Florence’s app connects nurses with open shifts, cutting out agency middlemen so shifts are filled with temporary staff. The app provides care firms with intuitive rota and e-learning tools. To date, 100,000 e-learners, 90,000 care experts and over 2,000 care firms have signed up.
With 11% of staff in both the NHS and social care leaving the sector in 2021, the need for better ways to keep skilled people in the profession is more urgent than ever.
Why is Florence an essential industry player?
“There is a shortage of healthcare workers, and staff management is outdated compared to other industries. Florence is tackling these issues, and we are really impressed with what the team have done to date. Most of all, we’re excited to be part of realising their ambitious plans for care in the future,” said Imran Akram, Axa Venture Partners General Partner.
After increasing revenue fivefold in 2021-22, and a successful launch in N. Ireland, Florence serves over a quarter of social care in the UK and operates across 99% of the country.
Florence will use this funds to achieve further product innovation and open in new markets. With increased digital services a key point of the gov’t’s £500m levy to nurture adult social care talent, Florence’s expansion comes at a crucial time to help the sector grow.
“Making sure our nurses and care providers are equipped with the knowledge, skills and support needed for their role is essential for providing quality care, and remains at the heart of our mission at Florence. With this additional funding we can continue to develop our services, while offering the opportunity for more nurses and care providers to join us as we continue on our journey to make care outstanding,” said Dan Blake, Florence co-founder.
