ADV leads $8m round for Snap40

UK-based growth and venture capital firm MMC Ventures also took part in the funding round.

Snap40 plans to use the new funding to double its headcount by the end of 2018, hiring in all areas of the business. Additionally, the investment is expected to accelerate the startup’s expansion into the US.

Previous funding
Par Equity led a £2m seed round of funding for Snap40 in September 2016. The deal marked the largest seed funding round for a Scottish startup in more than a decade. The funding supported the company's plans to expand its engineering and data science team and move into the US market.

Company
Founded in 2014 and headquartered in Edinburgh, Snap40 is a healthcare startup that has developed an AI-enabled wearable device to help healthcare professionals monitor patients either on the hospital ward or at home.

The device monitors the human body in real-time with accuracy equivalent to ICU monitoring. Using this data, the company’s proprietary algorithms identify those whose health is at risk and proactively bring healthcare to them.

With a second office in New York, Snap40 works both with NHS Trusts in England and healthcare providers in the US.

People
MMC Ventures – David Kelnar (partner). 
Snap40 – Christopher McCann (cofounder, CEO).

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