Digital Health Provider Spectrum.Life Seals Funding Round

Spectrum.Life, one of Europe’s fastest growing digital health providers has secured significant funding for its plan to bring its digital health solutions into new markets. 

The €17mn investment will help fund the company’s growth, which is most vigorous in the UK, which – although having launched there only in 2020 – now accounts for over 50% of its revenues, with growth there in the past 12 months exceeding 200%. 

Spectrum.Life delivers digital health, mental health and wellbeing solutions to insurers, universities and corporations, and their staff.

The company is looking to expand into new international markets.

Founded in 2018, it saw 60% revenue growth in 2023 and is expected to exceed 50% growth this year. 

Since its launch in the UK market in 2020, the Company has built an impressive list of insurance, corporate and university clients and over 50% of revenue in 2024 will be in the UK market. 

The company looks after 7.2 million people in the UK and Ireland, across multiple insurers, 3,000 corporate clients and 50 UK universities. 

It employs 260 people, including 125 clinicians, half of who are based in the UK. 

Spectrum.Life looking to expand digital health care provision

Using the investment, Spectrum.Life will look to recruit a further 100 people over the next 18 months, bolstering its team of experienced clinicians and professionals. It recently also strengthened its board, with Dr Paula Franklin – former global Chief Medical Officer of Bupa Group chairing the company's Clinical Advisory Board. 

Stuart McGoldrick, Executive Chairman and Founder of Spectrum.Life, said: “With this fresh investment we can now deliver upon our ambitious plans to be the market leader in digitally delivered healthcare. 

“We are a second generation digital health provider, and firmly believe our blend of clinical acumen and track record of scaling digital technologies is an opportunity to revolutionise healthcare. 

“Our goal is to elevate patient satisfaction and outcomes, within a commercially sustainable model that actively contributes to healthcare transformation and, critically, accessibility.” 

He added: “This milestone not only marks a significant achievement for Spectrum.Life, but also signals the wider market’s shift towards embracing integrated Healthtech solutions that deliver digital health transformation for Insurers, Educators and Employers.”