A South Africa based health start-up Guidepost has secured an undisclosed amount of funding from Rand Merchant Investments, through AlphaCode (a fintech investment firm) to help facilitate Guidepost expansion internationally.
The platform is a technological start-up that provides a personalized diabetes management experience driven by data.
This start-up has been going strong for the past 6 years and has been able to achieve a 45 percent drastic reduction in complications associated with over 8,000 diabetes patients.
Diabetes patients are now able to effectively manage their illness through the solution provided by Guidepost.
Although the amount of the fund was not disclosed, AlphaCode has secured a 25.1 percent stake in Guidepost.
According to Graham Rowe, chief executive officer (CEO) and co-founder of Guidepost – “We are really happy to partner with AlphaCode and RMI through this journey of business growth. We already have a close partnership with life insurers such as OUTsurance, innovative medical schemes such as CAMAF and pharmaceutical businesses such as Novo Nordisk. The heart of our business is a network of caring diabetes coaches empowered by our technology. We look forward to supporting our coaches and patients even better with RMI’s involvement,”.
Graham further states that, the funding will be effectively used to bring in talents with executive skills, push Guidepost till it becomes a global brand and initiate ways through with Guidepost will scale to meet up with local and international insurance partners.
Also speaking at the event is the senior investment executive at Rand Merchant Investments, Dominique Collett, “Guidepost will be a massive success as it is applying its health-tech applications to the insurance industry.”
“Guidepost has already initiated programmes at insurers where they are studying diabetic lives and managing these patients on the program in collaboration with Swiss Re. There is also the opportunity for the skilled leadership team to roll out this methodology for other diseases and chronic conditions,” she stressed.
Featured Image: Ventureburn
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