Market Overview

snap40 Raises $8 Million in Funding Led by ADV to Flip Healthcare Model with Artificial Intelligence

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AI-enabled wearable device monitors patients in real-time to
proactively identify illnesses, saving lives, empowering doctors and
nurses, and reducing healthcare costs

snap40,
an AI-enabled healthcare company with the mission to protect the health
of every human being, today announced it has secured US $8 million in
seed financing led by ADV,
with participation from MMC Ventures. Total funding to date is US $10
million, and the latest investment is the largest seed financing round
for a digital healthcare company in the U.K. snap40 monitors the human
body in real-time using its wearable device, with accuracy equivalent to
ICU monitoring. Using this real-time data, the company's proprietary
algorithms identify those whose health is at risk and proactively bring
healthcare to them. Initially, snap40 is deploying this with top
healthcare providers in the U.K. and the U.S.

This press release features multimedia. View the full release here:
https://www.businesswire.com/news/home/20180726005460/en/

snap40 co-founders Christopher McCann and Stewart Whiting (Photo: Business Wire)

snap40 co-founders Christopher McCann and Stewart Whiting (Photo: Business Wire)

Joining ADV and MMC
Ventures
, private investors who participated in the round include
notable industry leaders and executives Gordon Craig, co-founder of
Craneware; Gareth Williams, founder of Skyscanner; and Qasar Younis, the
former chief operating officer of Y Combinator and founder of TalkBin.
snap40 also will benefit from the continued support of existing
investors Par Equity and the Scottish Investment Bank. The investment
will accelerate snap40's expansion into the U.S., where it has clinical
trials and pilots with leading hospitals and institutions looking to
identify acutely and chronically deteriorating patients earlier, in
order to reduce risk and cost while improving patient health.

snap40 offers a complete, automated picture of human health. Using a
wearable device, the company monitors individuals during and after
hospital admissions, as well as for chronic health conditions and in
clinical trials. According to initial clinical trials, snap40's
proprietary AI algorithms provide awareness of acute or chronic patient
deterioration earlier than standard care. In addition, snap40's
continuous and automated approach provides insights to doctors and
nurses about health behaviors that might go unnoticed in today's
healthcare environments, offering improved workflows, reduced stress and
better systems of care for everyone.

Mike Dimelow, chief investment officer at ADV, said, "Human life is
precious. Monitoring, protecting and improving health is of importance
to all corners of society. snap40 addresses that through a wearable
device with smart technology built-in that allows us to identify human
health risks with incredible accuracy. We see this evolving into an
AI-driven platform on which snap40 and others can use and process health
data from wearable products of the future, to identify sickness and
disease patterns. The quality of the founding team, angel investors and
progress to date have made us really excited about the potential here to
redefine health monitoring and extend its reach well beyond hospital
walls."

snap40's HIPAA-compliant and secure mobile technology is designed to
alleviate the stress and risks doctors and nurses face when
administering care, eliminating the manual approaches that hinder them.
For patients, the device monitors vital signs and other data to
determine which patients will become ill and how, enabling earlier
medical intervention and fewer hospital readmissions. Today, this costs
U.S. hospitals more than $40 billion, according to the Centers for
Medicare & Medicaid Services (CMS) estimates.

"With our society growing older and larger, in the coming years we will
see AI fundamentally reshape how healthcare is delivered," said David
Kelnar, partner and head of research at MMC Ventures. "snap40 is an
excellent example of how AI is moving ‘beyond the hype' – the company's
robust application of AI is solving an important real-world problem,
augmenting the efforts of healthcare staff and helping save lives. We're
excited to support Chris, Stewart and the rest of the team as the
business expands and brings their technology to new markets."

With an office in New York and headquarters in Edinburgh, Scotland,
snap40 plans to more than double its headcount by the end of 2018,
hiring in all areas with a focus on candidates who believe in using
technology to save lives and improve healthcare. The snap40 team, led by
co-founders Christopher McCann and Stewart Whiting, is comprised of
Ph.D.s, healthcare professionals, data scientists and engineering
experts hailing from companies including Apple, Microsoft, Skyscanner,
Space Labs and FanDuel, as well as leading AI research groups.

Christopher McCann, snap40 CEO and co-founder, said, "As a medical
student, I witnessed patients live with long-term disability or die as a
result of late recognition of their deteriorating health. This is where
technology can make a difference. It's a moral imperative to use all of
our knowledge in science and technology to improve healthcare – that's
why Stewart and I founded snap40. Using AI to recognize illness earlier
and enable earlier treatment can save lives, and it can prepare our
healthcare system for the future."

About snap40
Human life is precious, and snap40's
mission is to protect it globally through the application of artificial
intelligence to real-time data. Through its wearable device, snap40
offers a complete picture of human health, enabling the detection of
patient deterioration and illnesses earlier for proactive healthcare.
The company's team of Ph.Ds, research scientists, healthcare executives
and engineers are united by a common goal to save lives and improve
healthcare delivery. Headquartered in Edinburgh, Scotland with an office
in New York, snap40 is venture backed by investors ADV, MMC Ventures and
others. For more information, visit http://www.snap40.com.

About ADV
ADV is a patient venture investment engine. Its
team are entrepreneurs and operators who have learnt the hard lessons
and want to pay them forward. Currently investing £150M, ADV takes the
long view of business building, investing across the funding lifecycle
of startups, scaleups and ‘scalebigs.' ADV champions the innovators -
the people who build complex, technical, generation-defining businesses.
ADV's investors are British Business Bank, Legal & General and Woodford
Investment Management.

Say hello at www.accelerated.ventures
| @AcceleratedDV

About MMC Ventures
MMC Ventures is a research-led venture
capital firm. Founded in 2000, the firm has backed more than 50
high-growth technology companies from the Seed and Series A stage. MMC
focuses on scaling enterprise software and consumer internet companies
with the potential to disrupt huge markets. Based in London, the firm
has c. £220 million under management and is investing more than £30
million annually.

Companies MMC has backed include; APEXX, Bloom & Wild, DigitalGenius,
Echo, Elder, Gousto, Interactive Investor, NewVoiceMedia, Masabi, Opal,
Peak, Signal Media, SafeGuard, Senseye, Sky-Futures and StorageOS.
www.mmcventures.com
@MMC_Ventures
MMC
Writes
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