London startup Forward Health secures $5m as it rebrands to Pando
Healthtech startup Forward Health has revealed it is rebranding to Pando Health, following a $5m (£3.8m) investment from a notable Australian venture capital firm.
It is also the first European healthtech investment for Skip Capital, a billion-dollar fund led by Atlassian co-founder Scott Farquhar and Kim Jackson. Existing investors Stride.VC and Albion Capital also participated in the round.
Pando Health, which provides free technology for secure communication between NHS staff in more than 200 hospitals, has now raised $8.9m to date.
The startup will use today’s funding to accelerate its international expansion plans, and increase its headcount to 35 roles. Launches in India, Canada and Australia have been planned for the first quarter of this year.
“Forward was perfect for the start of our journey, but as we look ahead and scale internationally we need a unique name that reflects our broader ambition,” said co-founder Barney Gilbert.
The new name is derived from the pando tree, which is the largest living organism in the world.
“Pando combines everything we look for in a company; passionate founders solving a fundamental, global problem with a positive impact,” said Jackson.
Get the news as it happens by following City PM on Twitter
“From our first meeting, I could tell the team was fiercely committed to making a difference, and we are excited to join the journey. Their success across the NHS shows how overdue a revolution in health and social care communication truly is and we’re looking forward to supporting them as they scale their impact internationally.”
Co-chief executive and co-founder Philip Mundy added: “Skip Capital are a phenomenal partner, and we’re thrilled to have their backing and the continued support of Stride.VC as we push ahead with our growth plans.
“Skip understands not only what we’re building, but also why it’s so important. With this support, we have the resources to take our network to scale, while cementing our position within UK healthcare.”