Lisbon, a Portugal-based technology company orchestrating and automating care journeys for hospitals and patients, UpHill closed a new investment round of EUR 7 million. The round took place on March 18, 2024. New investors such as Explorer and the joint Social Impact fund of Redstone and EnjoyVenture led the financing for the company. Meanwhile, existing investors such as Brighteye Ventures and Maze, along with historic investors Caixa Capital and Grupo Luz Saúde, joined in the financing.
Purpose of the financing for UpHill
With the latest proceeds, the company seeks to accelerate its efforts to scale internationally.
In addition to product development, the funding round also supports the company’s aggressive expansion plans. UpHill aims to double its team by the end of the year. It has plans to hire around thirty profiles.
What the company’s official has to add
Eduardo Freire Rodrigues, co-founder and CEO of UpHill, said, “UpHill enhances access to high-quality healthcare by functioning as an autopilot for doctors and nurses. This boosts the capacity of healthcare teams, such as doubling post-surgical follow-up capabilities or automating tasks to save each professional an entire working day per month. Notably, in terms of clinical outcomes, especially in managing chronic patients, UpHill enhances these results. For instance, it significantly reduces hospital readmissions by up to 65%. In recent years, our technology has seen a significant and consistent evolution, focusing on three main aspects: adaptability to specific clinical contexts and needs, increased automation capabilities, and improved integration into highly complex technological structures by using advanced standards for exchanging and interpreting clinical data.”
What the investors have to comment
João Caro Sousa, Investment Professional at Explorer, further said, “We are thrilled to contribute to Uphill Health’s future endeavours, collaborating on the creation of cutting-edge tools that significantly enhance users’ access to superior healthcare. Our commitment involves working closely with existing stakeholders, with the shared goal of propelling Uphill Health to become a prominent force in the European healthcare sector.”
Besides, Lucas Paul, Investment Director at Redstone, added, “Globally, healthcare providers are struggling to keep up with patients’ needs and improved medical efficiency is paramount to ensuring high-quality healthcare coverage. UpHill has proven to be able to augment the capacity of hospitals as well as the quality of treatment outcomes.”
In addition, Ben Wirz, Founding Partner of Brighteye, said, “UpHill makes best practice into standard practice for hospitals. It delivers tremendous ROI for patients, professionals and healthcare institutions alike by automating guidance and follow-up at key moments in patients’ care journeys. We expect these benefits to only increase as the product evolves in the coming months and years, and we’re excited to continue accompanying UpHill.”
António Miguel, Managing Partner of the MSM impact fund, co-managed by Maze & Caixa Capital and Luz Saúde further commented, “UpHill’s vision to empower healthcare teams to deliver the best care is an opportunity for us to have a large-scale impact at a time when healthcare systems are facing efficiency and quality challenges all across Europe. The UpHill team has strong leadership, and it has been inspiring for us to work together to fulfill this vision.”
About the company
UpHill, a company founded in 2015, gives each patient a digital clinical journey that is visible to interdisciplinary teams in various hospital departments. Remote monitoring, patient stratification and alert generation, information analysis and interpretation from various systems and patients, clinical record creation and updating, including automatically executed actions, and task delegation to individual professionals are all features of the software.
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