– Oxford University spinout’s ‘Intelligent Workforce Solution’ tops up $11m Series A to improve workforce efficiency across the healthcare industry and beyond
– The round, led by Oxford Science Enterprises, will support Navenio’s expansion into the US and the development of additional efficiency innovations
NASHVILLE, Tenn.–(BUSINESS WIRE)–Navenio, the global location tech scaleup, has today announced its $6.3 million investment to help revolutionize healthcare efficiency worldwide. The round was led by Oxford Science Enterprises, and saw Navenio’s existing investors, including G.K. Goh Ventures, Big Pi Ventures, George Robinson, and the University of Oxford, participate.
Navenio’s technology streamlines patient care logistics within complex healthcare environments, optimizing workflow efficiency. Real-time location awareness of patients, staff and medical equipment combined with Rideshare-like intelligence of task allocation, current path of motion and optimal route determination enables smart, automated orchestration of patient care.
With access to real-time actionable insights, such as over- or under-utilization of resources (staff and/or medical equipment), Navenio’s ‘Intelligent Location and Workforce Solutions’ facilitate improved operational efficiency and effectiveness, optimal resource utilization, creating enhanced revenue opportunities and better staff collaboration around the orchestration of care. This transformation frees up clinical staff to maximize their time on providing the best care to patients.
The investment enables Navenio to build upon its proven technology platform and demonstrated customer value to accelerate momentum in healthcare and beyond. With a range of existing customers and partners in the US, alongside global customers including the NHS, private hospital groups and facilities management companies, the investment will fuel further expansion and growth in the United States healthcare market, as well as other geographies, including Europe.
Heather Roxborough, Head of HealthTech at Oxford Science Enterprises, commented: “We invest in companies with the potential to become leaders in their field, and that is why we’re proud to back the incredible team at Navenio on their latest fundraise. Navenio is revolutionizing the way we create more efficient healthcare workplaces, through its proven technology powered platform for indoor mapping, and we are excited to continue supporting the team on the next stage of the company’s journey as they look to deliver its offering to a wider range of use cases and across new geographies.”
Andy Carruthers, CIO University Hospitals of Leicester NHS Trust commented, “Navenio has enabled a 66% increase in efficiency and effectiveness in our portering workforce across the 3 Leicester hospitals. Patient flow and experience has improved by getting the right person to the right place at the right time, and the platform has been enthusiastically adopted by our teams. I look forward to expanding our use of Navenio to support additional workgroups and integrate into our other core technologies.”
Connie Moser, CEO of Navenio, added: “This investment will go a long way in helping Navenio to ramp up its offering in the US as well as in new geographies. We’re on a strong growth trajectory, and accelerating our deployment for real world impact across healthcare and beyond is our top priority.”
Navenio was spun out of the University of Oxford in 2015 and has an established team of more than 60 people which continues to grow. Navenio was given a strong commendation in KPMG’s British Tech Pioneers 2020 Programme, has been named as part of the DIT100 and Tech Nation’s Upscale 6.0 this year, as well as winning both commercial and academic awards.
Navenio’s location technology is developed from world-class University of Oxford science. In brief, using only a smartphone’s sensors, the fusion of four unique technologies creates a highly scalable indoor location and an artificial intelligence tasking engine that provides immediate actionable insight. Privacy and security are inherent within the Navenio technology and the company is Cyber Essentials Plus certified, GDPR, HIPAA and NHS Data Security and Protection Toolkit compliant.
About Oxford Science Enterprises
Oxford Science Enterprises (OSE) is an independent, billion-pound investment company, created in 2015 to found, fund and build transformational businesses via its unique partnership with the University of Oxford, the world’s #1 research university. This partnership enables OSE to work with the brightest academic minds tackling the world’s toughest challenges and guarantees unrivaled access to their scientific research. In collaboration with its global network of entrepreneurs and advisers, OSE goes well beyond funding to shape and nurture these complex ideas into successful businesses.
Actively focused on a core portfolio of around 40 companies spanning three high-growth, high-impact sectors – Life Sciences, Health Tech, and Deep Tech – the company adopts a flexible, long-term investment approach, recognising the path from ground-breaking research to global markets takes time and resilience. To date, OSE has invested £0.6 billion in over 80 ambitious companies built on Oxford science.
Roseanna Lane: [email protected]