A Leeds-based healthtech platform has raised £825,000 investment from NPIF – Mercia Equity Finance, which is managed by Mercia and part of the Northern Powerhouse Investment Fund, to support its continued growth.
The funding will allow hero to further enhance its software platform and develop its marketing strategy. The company helps organisations to deliver tailored health and wellbeing programs and offers services ranging from coaching and training to medical screening and health and nutrition advice. What makes hero unique is its Navigator platform, which can track the impact of different wellbeing activities on individuals and overall business performance, whilst also measuring the return on investment.
hero was launched in April 2018 by Joe Gaunt, the former UK Managing Director of workspace provider WeWork and winner of the regional Great British Entrepreneur Awards 2020. hero serves over 100 clients including Vodafone, the NHS, Arsenal FC and Legal & General. It has also won contracts from real estate operators such as Moda Living who are offering it to residents. The company currently employs over 50 staff and the funding will allow it to create six new jobs.
Joe Gaunt, CEO of hero, said: “We have enjoyed a successful two years since our launch in 2018 but this funding will allow us to further enhance our products, accelerate growth and continue to build out our team.”
Megan Noble of Mercia added: “There has been growing recognition amongst businesses of the importance of employee health and wellbeing and the pandemic has brought this into even sharper focus. As we move into 2021, monitoring, measuring and having the ability to respond to the needs of employees will be critical as we transition back to work.”
Mark Wilcockson, Senior Manager at British Business Bank, said: “NPIF continues to support high-growth businesses in the North, providing vital funding to enable job creation and expansion into new markets. This investment into hero, a forward thinking business with an important purpose, demonstrates how this funding can make a real and measurable difference to businesses across the Northern Powerhouse region, in turn helping to create a more prosperous regional economy.”
The Northern Powerhouse Investment Fund project is supported financially by the European Union using funding from the European Regional Development Fund (ERDF) as part of the European Structural and Investment Funds Growth Programme 2014-2020 and the European Investment Bank.