EpiCura, a startup incubated at I3P, is the first digital outpatient clinic in Italy that, with a network of 900 certified professionals, brings home healthcare and social services to 10 major Italian cities. With a Series A funding round worth a total of €5 million, the young innovative reality has reached a total funding round of approximately €8 million, closing its third capital raising.
Even more than the value of the funding, the operation is important and strategic for the level of the incoming shareholders. As lead investor, Europ Assistance Italia, the Generali Group's leading private assistance company, is leading the way with a total investment of €3 million, and is entering EpiCura as an industrial partner with the clear objective of bringing the social and healthcare services of the digital outpatient clinic to its customers nationwide. At his side are investors linked to the Ersel network, a specialist in asset management, which - on the basis of its significant experience and investment culture - has already supported some of the most successful Italian start-ups in structuring operations through Simon Fiduciaria. Lastly, the initial group of angel investors and the Investors' Club, which followed the new capital increase, reaffirmed their confidence in the business model and its evolution.
Thanks to the resources raised, EpiCura will continue its strategy of simplifying a traditional sector such as the health and social care sector, which is still not very flexible and responsive to the needs of patients and family care givers. The long-term elderly care service brought to the market by the start-up in December 2020 - from night-time carers to continuous care and co-habiting carers - for which EpiCura, in addition to selecting the professional, also manages all the bureaucratic procedures for induction and recruitment, goes precisely in this direction. Since its inception, EpiCura has supported over 3000 families and provided over 31000 hours of services.
The deal will allow the young company to continue its national expansion by entering new key cities and offering new services, while also investing in the evolution of its digital health platform. "In a social and market context that has made it clear to everyone how home medical care is a solution to respond to the multiple needs of Italian families, as well as to lighten the load on public hospitals, EpiCura has found not only confirmation of its vision but also the stimulus to make its offer more and more complete and efficient. This is what has been recognized by the new shareholders who are entering our capital" said Gianluca Manitto CEO and Co-Founder of EpiCura "We are extremely proud to be able to contribute with our services to complement the support that an operator of the caliber of Europ Assistance offers to its millions of customers. Thanks to Europ Assistance we will have the opportunity to expand our business and also to see confirmed the trust of investors who believe in us since our birth".
"The combination of financial and industrial investors in this operation is perfect. In addition to thanking the new and important shareholders who have placed their bets on our growth, we would also like to thank very much our first investors who, after some time, continue to renew their trust, thus confirming the company's ability to execute its plans. These are all very encouraging signs for us, reinforcing our commitment to carry out a major development plan. With the new financial resources, in addition to reinforcing the growth of the team, we will continue to innovate our digital health platform and support the entry of home care services into new cities to become more accessible, efficient and fast" added Alessandro Ambrosio - CEO and Co-Founder of EpiCura.
Fabio Carsenzuola, CEO of Europ Assistance Italia, concludes: "Home care is a front on which Europ Assistance is very committed, with a particular focus on the elderly and chronically ill. We know that the pandemic has made it even more necessary to be able to access medical care without necessarily having to go to health facilities. We work to always offer the simplest and most effective access to care possible. With this operation we want to strengthen our presence both in home care and in access to qualified medical advice via teleconsultation, true to our promise to 'live and work well at home'. Both on the operational front and in terms of values, we were immediately in complete harmony with Epicura: just like us, they focus on innovation and technology, but the human relationship remains fundamental. We are certain that the partnership with this young and dynamic company will enable us to guarantee our customers solutions that are increasingly in line with their needs".