Little Journey, a pioneering healthtech company, secures £6 million in Series A funding to enhance paediatric care.
- The funding round was led by venture capital firm Par Equity, with significant contributions from healthcare and life sciences experts.
- This funding aims to support Little Journey’s global expansion, particularly focusing on the US healthcare market.
- Investment will enhance product capabilities, focusing on data-driven, patient-centric care approaches.
- Little Journey will use the funds to fortify infrastructure and develop resources for global paediatric healthcare improvements.
Little Journey, a leading healthtech innovator, has announced the acquisition of £6 million in Series A funding. This substantial financial boost is directed towards revolutionising paediatric care through personalised psychological support, with Par Equity, a venture capital firm based in Edinburgh and Leeds, spearheading the funding round. The company also received vital financial backing from Mercia Ventures, Northern Powerhouse Investment Fund I, Octopus Ventures, Calm/Storm Ventures, and notable angel investors who possess extensive expertise in healthcare and life sciences.
The primary objective of this funding is to expedite Little Journey’s mission of enhancing paediatric healthcare on a global scale. This initiative will focus predominantly on entering the US healthcare sector, where Little Journey has already established a foothold with early adopters. By expanding its reach in this critical market, the company can extend its transformative support to a larger demographic of children and their families worldwide.
A significant portion of the investment will be allocated to refining Little Journey’s product offerings, including the development of scalable content, interoperability, and capabilities for data collection. These product enhancements are pivotal in enabling healthcare and life science organisations to embrace a more data-centric and patient-focused approach, ultimately leading to improved paediatric patient outcomes globally.
Ensuring robust and scalable infrastructure, Little Journey plans to use the investment to mature its systems, with an emphasis on infrastructure and product security. This will prepare the company for broader global adoption, instilling confidence in its operational capabilities on an international level.
Co-founder and CEO Chris Evans highlighted the importance of this investment in addressing challenges faced by paediatric clinical trials. He noted that while certain legislative measures have increased the number of studies, there remains a significant deficit in specialist paediatric knowledge across the sector. This gap poses a threat to recruitment and completion rates of trials compared to adult research. Evans stated, ‘Securing this investment allows us to scale our impact across healthcare and life sciences, with a focus on easing the burden of paediatric clinical trials.’
Co-founder and CPO Sophie Copley emphasised that the investment would propel Little Journey’s product capabilities to new heights. The company aims to develop a data-driven, personalised model of care, furthering its international offering. Copley articulated, ‘By empowering families with the right knowledge and resources at the right time, we believe we can help build a brighter, healthier future for all children across the globe.’
Since its inception in 2018, Little Journey has significantly evolved, now assisting thousands of young patients globally. It operates in over 100 hospitals across 11 countries, offering localised content in 20 languages. The app holds a comprehensive content repository that supports children and families through 12 health procedures, including MRI, mental health assessments, and blood tests.
In addition to direct healthcare applications, Little Journey collaborates with leading global pharmaceutical companies to improve paediatric clinical trial experiences. By lowering barriers to trial participation, the platform empowers families and aids life science organisations in accelerating the development and approval of paediatric medicines.
Par Equity has played a critical role in shaping Little Journey’s strategic growth. With deep expertise in scaling companies, Par Equity has helped craft a fundraising strategy tailored to Little Journey’s ambitions, positioning it well for expansion into the US market with a focus on efficiency and traction.
Moreover, Little Journey has secured substantial grant funding alongside its investment round, receiving £2.09 million from the LEGO Foundation’s Play for All Accelerator and £493,000 from SBRI Healthcare. These grants are intended to enhance app accessibility for children with disabilities and to collaborate with the LEGO Foundation in creating solutions with neurodivergent children.
Little Journey’s recent funding round marks a pivotal moment in advancing paediatric healthcare, promising to drive significant improvements through innovation and global expansion.
