Draper Esprit leads $26.1m investment in Push Doctor

Draper Esprit, a venture capital firm that floated in Dublin and London last year, has emerged as the lead investor in Push Doctor, a UK-based startup which has raised $26.1 million (€23 million) in funding.

The Irish State Investment Fund-backed company led the Series B round with support from Accelerated Digital Venture. Other investors include Oxford Capital, Partech Ventures and Seventure Partners.

Push Doctor, which enables users to book video consultations with doctors, has now raised more than $37.5 million since it was founded by Eren Ozagir and Matt Elcock in 2013.

Draper Esprit previously co-led a Series A $10.2 million funding round for the company in January 2016, which was also backed by Oxford Capital and Partech Ventures.

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The Manchester-headquartered business connects patients to a network of more than 7,000 registered general practitioners (GPs), giving them access to doctors in as little as six minutes.

Mr Ozagir established the business after falling ill on a business trip in the US. Confined to his hotel he wondered why if you could get a taxi, boat or even a helicopter through an app, you couldn’t also talk to a doctor via a smartphone.

Prescriptions

The start-up intends to use the additional funding to bring new products and services to market. In addition to providing patients with access to a qualified doctor, consultants can also issue prescriptions and sick notes.

Draper has not disclosed the value of its investment in Push Doctor.

"People's expectations around how, when and where they access healthcare have evolved. Push Doctor is the leading health provider which is addressing growing, unmet patient needs. By putting the patient experience first, the company is changing our relationship with healthcare, lowering the hurdle of access for both immediate needs and chronic, long term conditions," said Dr Vishal Gulati, digital health investor at the venture capital firm

Draper Esprit, whose Irish business is headed up by serial entrepreneur Brian Caulfield, last month raised £100 million (€115 million) in a share sale as it seeks to tap into Brexit opportunities.

The company raised about €100 million in an initial public offering (IPO) before listing on the junior Irish and London stock exchanges last year. The Irish State Investment Fund (ISIF) has a 21 per cent stake in the firm.

Mr Caulfield, a former partner with Trinity Venture Capital, is a member of the board of The Irish Times.