Fund injection allows Edinburgh healthtech firm to create 70 jobs

An Edinburgh-based start-up that is developing technology to tackle the UK’s care crisis aims to create up to 70 “high value” jobs thanks to a funding injection.

The business was co-founded by Andrew McGinley and Andrew Parfery in 2016. Picture: Stewart Attwood

Care Sourcer has secured a £1.5 million regional selective assistance (RSA) grant to create the new posts and take its headcount to over 100.

The firm, which is headquartered at the capital’s CodeBase tech incubator, is hoping to tackle the care crisis via the first comparison and matching site for older people’s care provision.

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Co-founded by Andrew McGinley and Andrew Parfery in 2016, the fledgling venture is already working with a number of NHS trusts across the UK and secured a major £8.5m investment round led by Legal & General and ADV in 2018 – understood to be the largest ever Series-A funding round by a digital tech company north of the Border.

Parfery, who is the firm’s chief executive, said: “As we look to further scale the business in the months and years ahead, the support from Scottish Enterprise will enable us to grow the team to keep apace with our strategic growth plans.

“We are building a fantastic team at Care Sourcer and we’re excited at the prospect of even more talented people joining the fold as we look to fix the broken care system in this country.”

Michael Cannon, head of grants at Scottish Enterprise, said: “Care Sourcer is a fantastic example of an ambitious, growing Scottish technology company that’s making a real difference to the quality of people’s lives.

“With our support, Care Sourcer can significantly scale up and enable local individuals, families and communities to benefit from these new quality jobs being created.”

Earlier this year, Care Sourcer hired a former Skyscanner director, Ilana Munckton, as its director of growth. Munckton oversaw a period of high growth at the global online travel site that was acquired by China’s Ctrip for £1.4 billion in 2016.

Care Sourcer’s board also includes former Skyscanner chief operating officer, Mark Logan, while former FanDuel senior director of engineering, Dr Graham Jones, became Care Sourcer’s own chief operating officer in 2017.

Parfery added: “We feel really fortunate to have such talented people, including individuals with proven scale-up experience, on our doorstep.

“Scotland has a dynamic tech ecosystem and Scottish Enterprise’s support helps us keep that expertise here in Scotland.

“Care Sourcer’s online comparison and matching site is directly connecting people with businesses who can help. Our technology is proven to make a significant impact on the challenges in social care, and we look forward to more attention and investment in this critical topic.”

The overall UK care market is estimated to be in excess of £20bn while daily discharge costs to the NHS are more than £2m per day.