BCB Medical raises money for going international.
BCB Medical, a Turku, Finland-based startup that developed a SAAS solution that it's gathering and analysing clinical data, announced raising an undisclosed amount in investment funding. The money comes from Standout Capital and Tesi and will be used to further expand the product reach internationally.
Following the investment, Standout Capital becomes the largest shareholder in BCB Medical and will together with Tesi own the majority of the shares. Among other co-investors, the Stockholm-based Backstage Invest also participated in the financing round. Pre-investment shareholders will continue as minority shareholders of the company.
BCB Medical, led by managing director Petteri Viljanen, has developed a service that combines, analyses and illustrates clinical data gathered from various sources and presents it in an understandable format so that current and future generations can live healthier lives. The service is used by more than 9 000 healthcare professionals at 200 clinics in Finland. The company employs 53 people and 2016 turnover was around EUR 4 million. The company’s head office is located in Turku, Finland, with offices in Espoo, Oulu and Tampere.
Standout Capital was founded in 2014 by Fredrik Arnander, Klas Hillström and Erik Wästlund, when they started raising the investment fund, which they closed at SEK 1bn ($110M), from investors inlcuding European Investment Fund, Skandia and Tredje AP-fonden.