Network Locum, the UK-based creator of a software platform that helps hospitals find locum doctors, has raised £5.3m ($6.9m*) in series B funding from investors including bank-backed VC fund BGF Ventures, Business Insider has reported.
Beringea, Piton Capital, Samos Investments and Playfair Capital also invested in the round, which took Network Locum’s funding to £8.5m altogether. Its series A funding was supplied by Piton, Playfair, Beringea and angel investor Mark Evans.
The company has developed workplace management software that can be used by the UK’s National Health Service to help hospitals and general practitioners surgeries find self-employed locums through a network of up to 40,000 doctors.
Melissa Morris, co-founder and CEO of Network Locum, told Business Insider: “We got more than we wanted and more than doubled our valuation from our A round, which was only eight months ago.”
BGF Ventures operates as a subsidiary of the UK government-mandated Business Growth Fund, which sources funding from financial services groups Barclays, HSBC, Lloyds, RBS and Standard Chartered.
*Currency conversion correct at time of publication.