NurseBuddy, a Finnish SaaS company providing home care management software for small and medium-sized homecare providers in the UK, Ireland, and Finland, closed 300 000 € funding from three angel investors: Ali Omar, Leena Niemistö and Janne Jormalainen. Mr Omar was part of NurseBuddy’s previous investment round and wanted to make a follow-up investment, he then invited his associates to join him.
Investing in a product that responds to a clear customer need
The ageing population and growing need for care services are global trends leading to increasing demand for health technology, especially in adult social care. NurseBuddy was founded to support home care agencies struggling with the lack of resources and the software was designed with carers, for carers.
Mr Ali Omar is excited about NurseBuddy being “a very focused and thus commercially scalable product that responds to a clear customer need: to free more time from homecare supervisors to manage and improve the quality of care, workforce planning, and human resource management.”
Omar decided to join the current round of funding as NurseBuddy has shown excellent growth, and therefore it was only natural to continue supporting furthering its internationalisation. NurseBuddy has provided its expertise to a wider international audience from the very start and intends to continue on this track.
Who are the new investors?
Omar invited Mrs Niemistö and Mr Jormalainen to join the latest investment round, as they are renowned professionals that invest in companies that try to make the world a better place. “Mrs Niemistö’s expertise, experience, and networks are the absolute best in Finland and her getting involved syndicates strong justification why NurseBuddy is a very attractive company,” says Mr Omar.
”We are excited to have Mr Omar, Mrs Niemistö and Mr Jormalainen onboard. Their precise scrutiny shows great trust and expectations towards NurseBuddy and we intend to meet those expectations. The funding will be used to scale the business in the current main market, the UK, to further develop the product to serve our customers even better and to prepare for opening our new market.” says, Simo Hännikkälä, the CEO of the NurseBuddy. “We are open to extending this funding round so that we can access the next markets this year already”.
These long-term angel investors have an impressive background in healthcare and technology providing their expertise to NurseBuddy. Ali Omar (MD) is the Co-Founder of Med Group, a Finnish healthcare services company, and a board member of the Finnish Business Angels Network (FiBAN). Leena Niemistö (MD, PhD) is a health care professional who worked as a CEO in Dextra and deputy CEO in Pihlajalinna, which are Finnish medical centres. Janne Jormalainen (M.Sc.) worked for 12 years in Nokia and is the Chairman of the Board in FiBAN and several startups.
The Growth Spurt of NurseBuddy
After the change in the company’s focus in 2016, the number of international customers (+545%), monthly international MRR (+411%) and employees of NurseBuddy have grown impressively. More than 50 % of NurseBuddy’s turnover comes from abroad and the sales keep on increasing at an accelerating speed. Due to the rapid growth, the team has grown and by the end of this year, NurseBuddy will have nearly 20 employees.
NurseBuddy has also a new chairman of the board, Mikko Suonenlahti. Mr Suonenlahti has more than 35 years of start-up expertise and he is currently a Board Director also in M-Files Corporation and chairperson in several other companies.
With NurseBuddy’s new investors, talented employees and a new chairman of the board, and their expertise available it is possible to keep up with the growth spurt and ensure that the pace remains the same or continues to accelerate.