Adelaide-based splose has announced a $46 million Series A capital raise. This is the largest cash injection of its kind for a South Australian Software as a Service startup. The state government confirmed this news. Growth equity firm Spectrum Equity led the raise. Athletic Ventures also participated. Demand for splose’s AI-powered tech is high. The platform helps allied health providers control workflows.
Splose was founded in 2016 by CEO Nicholas Sanderson. The company aims to ease the burden on allied health staff. It automates tasks like patient onboarding, scheduling, and payments. Over 20,000 allied health professionals use splose. They operate in Australia, the UK, and New Zealand. Splose plans to use the funds for market expansion. This includes growing in Australia and the UK. The company will also accelerate product development. More intuitive AI integration is a focus. Easier payment solutions are also planned.
A Major Funding Milestone
This Series A raise marks a significant achievement. It is the largest of its kind for a South Australian SaaS startup. The state government highlighted its importance. The funding helps splose expand globally. Spectrum Equity has a strong track record. They often invest in healthcare technology. They are known for scaling B2B SaaS companies. Matt Neidlinger from Spectrum Equity will join splose’s board.
Understanding splose’s Impact
Splose offers specialized practice management software. It serves allied health professionals. This includes physiotherapists and speech pathologists. The software automates many administrative tasks. It handles patient onboarding and scheduling. It also manages invoicing and payments. This automation reduces the workload on staff. Consequently, practitioners can focus more on patient care. The platform uses AI to improve efficiency. It assists with progress notes and reports. This AI integration is a key differentiator.
Strategic Investors
Spectrum Equity is a leading growth equity firm. They have offices in Boston, San Francisco, and London. Spectrum focuses on software, data, and consumer internet businesses. They often partner with category leaders. Their investment in splose highlights the company’s strong market position. Athletic Ventures brings a unique perspective. It is a community of elite athletes. They invest in high-growth technology companies. Their involvement suggests a belief in splose’s disruptive potential.
The Broader Business Context
South Australia is fostering a vibrant startup ecosystem. The state government supports high-potential businesses. Programs like Seed-Start provide early funding. This investment in splose reflects confidence in the state’s tech sector. The health tech market is growing rapidly. Data-driven decision-making is key in healthcare. AI and machine learning are transforming the sector. Splose is well-positioned within this trend. The company aims to give time back to healthcare professionals. This allows them to focus on delivering care. This news is significant business news for the region.
