Spectrum.Life announced that it will use the new investment to accelerate its growth and expand into new markets.
Health startup Spectrum.Life has raised 17 million euros. Act Venture Capital led the €17 million investment round. Spectrum.Life’s existing investors also participated in the €17 million investment round. Spectrum.Life announced that it will use the new investment to increase its growth rate and expand into new markets. Following the investment, Dr. Paula Franklin from Bupa Group joined the company’s board of directors.
The company was founded in 2018 by Stuart McGoldrick and Stephen Costello. Spectrum.Life provides comprehensive and accessible health solutions for users using digital technologies.
The company serves more than 7.2 million people in the UK and Ireland. Spectrum.Life aims to generate 100 million pounds of revenue by 2028. The company offers a wide range of services including mental health, general health and wellbeing solutions. This helps individuals and organizations meet a variety of health needs.
According to the information shared by Spectrum.Life, the initiative achieved 60 percent revenue growth in 2023. For 2024, more than 50 percent growth is predicted. This growth will be supported by new business, especially from outside Ireland. The company plans to hire more than 100 new staff over the next 18 months. These hires will help Spectrum.Life expand its service capacity and customer base.
