€4.4mARR
+5.7% MoM · +144.4% since Nov 25
Kinship Health
Back to the book
Clinical documentation that writes the note the trust will actually file.
London · Vertical · Health
3.08xhealthy
€550k / moNet burn
Implied cash €7.7m
14 moRunway
Outside the nine-month line
39People
NRR 118% · GM 74%
One NHS procurement slipped a quarterwatch
The trust is still in the pilot. Pipeline coverage for the year holds, but Q4 bookings are now the number that matters, not the demo count.
Suggested action. Ask for a named-buyer forecast at the November board. If two trusts move to ‘next fiscal’, reopen the 2027 plan before we talk about the reserve.
ARR
€m, monthly
Net burn
€m per month
Monitoring note
Clinicians finish the note. That sounds small and it is the whole company. Coding quality is ahead of the last two health deals we passed. The sales cycle is the constraint, and it is a public-sector sales cycle, which we knew.
Entry
- Date
- 14 Feb 2024
- Round
- Seed
- Ownership
- 16.8%
- Cost
- €13m
- Fair value
- €40m
- Reserve left
- €4m
- Partner
- Tomasz Rehn
- Rights
- Board seat