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A team at Field Seymour Parkes led by Penelope Garden, corporate partner, has advised The FSE Group on the investment by the Coast to Capital Growth Equity Fund alongside several angel investors into the health focused social network HealthUnlocked.
HealthUnlocked provides an online setting where individuals affected by various medical conditions can link up with others sharing the same experiences, along with associated support groups and healthcare professionals. The site was launched in the UK and Europe in 2010 and in the US last summer and has grown quickly during that time with many leading medical organisations – including the NHS – charities and advocacy groups, choosing to operate their community forums from the platform. It now has over 250,000 registered members communicating across more than 500 peer-to-peer communities and figures for January alone showed over 2.5 million users visiting the site.
The equity investment will be used to invest further in the product, advance technological development and increase revenue streams.
Avent Bezuidenhoudt, Senior Fund Manager at The FSE Group, comments: “The early success of HealthUnlocked as a provider of a niche social network is evident in its rapid growth in users and site visits, along with testimony such as 90% stating their knowledge of treatment options had improved as a consequence. However, the true potential of this complex platform has yet to be utilised. We are excited to be working with the team as they explore its full capacity and work to achieve their ambitions for high growth on a global scale.”
Simon Labahn, Fund Executive at The FSE Group said “With several high-profile angels in the funding round, we’re thrilled to see the Coast to Capital Growth Equity Fund added to the list of investors backing this innovative company. Completing any deal is a complex process, one which we were grateful on this occasion to have Penelope Garden, Partner at FSP Law, advise us upon.”
For more information about the Coast to Capital Funding Escalator please visit http://www.thefsegroup.com/coast-capital-funding-escalator or contact Avent Bezuidenhoudt at firstname.lastname@example.org tel: 01276 608526.