Social care startup sets ‘broken system’ in sights after £28.5m cash injection
London-based social care startup Florence said it is looking to solve the issues of the “broken” care system today after securing a £28.5m cash injection.
Florence, which provides a platform to connect nurses with open shifts, announced today it had raised £28.5m in a Series B funding round, which it would now channel into growing its services beyond elderly care.
Axa Venture Partners led the round with backing 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.”
He said the firm was now hoping to help “revolutionise care at a greater pace than ever before.”
Florence is looking to stem the flow of staff away from the sector, after 11 per cent of care workers in both the NHS and social care permanently left in 2021.
The app currently boasts 90,000 care professionals and over 2,000 care organisations, but Florence’s investors say staff numbers are drying up across the sector and the need for retention and better management was urgent.
“Florence is tackling these issues head on, and we are really impressed with what the team have done to date,” said Imran Akram, Axa Venture Partners General Partner.
“We’re excited to be part of realising their ambitious plans for care in the future.”