Florence, the UK-based tech innovator for social care, announced it has raised $35 million (£28.5m) 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.
“We believe everyone should have the care and dignity they deserve,” said Dr. Charles Armitage, Florence co-founder.
“We see this funding as an investment in solving the issues our broken system faces on a daily basis, which disproportionately impact the most vulnerable people in our society.
With an expanded scope, we are positive we can help revolutionise care at a greater pace than ever before.”
Florence’s free app connects nurses with open shifts, cutting out agency middlemen so shifts are filled directly with the right temporary staff. The app also provides care organisations with intuitive rota and e-learning tools.
To date, 100,000 e-learners, 90,000 care professionals and over 2,000 care organisations have signed up to Florence. With 11% of staff in both the NHS and social care permanently leaving the sector in 2021, the need for better ways to keep skilled people in the profession is more urgent than ever.
“There is a global shortage of healthcare workers, and staff management is very outdated compared to other industries,” said Imran Akram, Axa Venture Partners General Partner.
“Florence is tackling these issues head on, 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.”
After increasing revenue fivefold in 2021-22, and a successful launch in Northern Ireland, Florence now serves more than a quarter of social care in the UK and operates across 99% of the country.
Florence will use this funding round to achieve further product innovation and open in new markets. With increased digital services a key point of the government’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,” said Dan Blake, Florence co-founder.
“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.”
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