Derry-based female entrepreneurs Leeann Monk-Ozgul and Jennifer Neff have raised £300,000 (€340,000) in funding for their digital platform which connects patients, care professionals and community health and wellness providers.
Their 'tech for good' start-up Elemental Software raised the money with the assistance of the angel investment bank ClearlySo, which backs businesses delivering positive social, ethical and/or environmental solutions and services.
Since its inception in 2008, the London-based bank has helped start-ups raise more than £142 million in impact investment from its extensive network of high-net-worth individual and institutional investors.
The key aim of Elemental’s “social prescribing” platform is to demonstrate the value and difference that referrals to local exercise, diet and nutrition and mental support can make to peoples’ lives.
It claims to be the only comprehensive cloud-based solution developed by community development experts that can measure the impact of social prescribing and the difference that non-clinical solutions can make.
It is estimated that more than 80 per cent of the world’s chronic conditions can be avoided by lifestyle change alone. However, despite this, chronic conditions such as type 2 diabetes, mental health-related illness and heart disease are continuing to rise.
Dubai
Elemental said it intended to use the capital to further develop its software, make key staff hires and expand its marketing reach.
“We are absolutely delighted that ClearlySo plugged into the Elemental vision for revolutionising the ability to socially prescribe across the health, social care and third sectors,” the entrepreneurs said.
Since its launch in 2015, the company, which employs five people, has expanded from its base in Derry into Dubai, where it is delivering a wide range of work to reduce the risk of diabetes.
Entrepreneur and angel investor Mary McKenna, who previoulsy co-founded successful Derry based e-learning company Learning Pool, joined the company as a director earlier this year.
“I look for start-ups with that magic combination of knowledgeable and credible founders, a great product and a large and ready market opportunity. Elemental Software has all of that and more,” she said.
