Today we’re excited to announce that Foxo has closed a pre-seed capital raise of $1.5m AUD. This equity round follows on from the founder’s initial investment and co-matched funding by the Australian Federal Government in 2019.
The carefully selected group of strategic investors range from clinical leaders, security experts, and leading technology entrepreneurs whose investment and expertise further supports funding committed by the founders.
The health industry continues to grapple with unprecedented data breaches and growing uptake of unsanctioned communication tools. With a workforce impeded by silos and desperate to modernise, we are committed to delivering a world class product to our existing and new customers.
We pursued this pre-seed investment to provide a 12 month runway for the business to transition to commercialisation and plan for market expansion. This includes formalising the sales team and sales process, optimising the product’s enterprise tier for scalability, and preparing the business and infrastructure for North American regulatory compliance.
Our mission is to securely connect the healthcare industry in realtime and bring information closer to clinicians and clerical teams no matter where they are.
Thank you to our customers, investors, partners and our brilliant team for helping build a world class product and drive a much needed change across the industry.