UpHill, a Covilhã, Portugal-based digital health startup that provides a care orchestration platform, has secured €7 million in Series A funding.
SaaS Investors
The round was led by Explorer Investments, Redstone (and EnjoyVenture), Brighteye Ventures, and MSM fund (Mustard Seed Maze). Other investors, including Caixa Capital, SCR, S.A., and Luz Saúde, also participated in the round.
Founded in 2003, Explorer Investments is a private equity investment firm based in Lisbon, Portugal. The firm prefers to invest in middle-market companies in Portugal operating in private equity, tourism, and real estate.
Redstone is a European Venture Capital firm, following selected investment strategies, headquartered in Berlin with offices in Zurich and Helsinki. Founded in 2014, the firm pursues selected investment strategies. With its data-driven approach, Redstone develops sector expertise, building networks for its portfolio.
Brighteye Ventures is a VC that backs European Edtech entrepreneurs at seed & series A stages. Founded in 2017, the firm invests in companies that help people learn and grow.
MSM is an early-stage impact VC fund that invests in firms solving social and environmental challenges.
UpHill Use of Funds
The company plans to utilize the funds to strengthen its presence in the Iberian market and expand into new locations such as the UK and Spain. Additionally, UpHill aims to double its team headcount by the end of the year.
About UpHill
UpHill was founded in 2015 by Eduardo Freire Rodrigues and Duarte Sequeira, with a mission to empower people to provide and receive the best care with care orchestration software. The company develops clinical pathways and decision support systems that automate care and adhere to best practices, collaborating with healthcare providers and life sciences companies across Europe to enhance patient outcomes and revenue while reducing waste related to care variability and fragmentation. UpHill currently serves major hospitals in Iberia, including ULS Sta Maria, Luz Saúde, ULS Coimbra, and Institut Guttmann, among others.
Funding Details
Company: UpHill, S.A.
Raised: €7.0M
Round: Series A
Funding Month: March 2024
Lead Investors: Explorer Investments, Redstone, Brighteye Ventures, MSM fund
Additional Investors: Caixa Capital, SCR, S.A., Luz Saúde
Company Website: https://www.uphillhealth.com/
Software Category: Care Orchestration
Source: https://siliconcanals.com/news/startups/portuguese-uphill-raises-7m/