PRESS RELEASE: TheSocialMedwork wins new hearts, minds and funding
TheSocialMedwork wins new hearts, minds and funding
3 October 2018
TheSocialMedwork, a social impact startup that has made medicines available to people in 70+ countries around the world, has secured a new round of funding from Social Impact Ventures. Social Impact Ventures will invest $1.7mm to make newly approved medicines available to patients who wouldn't otherwise have access. This brings TheSocialMedwork’s total funding to $4.6mm over the past two years. Prior to this round, TheSocialMedwork received angel investment of $2.9mm from, amongst others, acclaimed Silicon Valley healthcare investor/activist Esther Dyson.
Social Impact Ventures, the Netherland's largest social focused venture capital fund, is led by Willemijn Verloop, former founder and chief executive of War Child, who will join TheSocialMedwork’s Supervisory Board. After successfully creating the infrastructure and framework to deliver newly approved medicines to 70+ countries, TheSocialMedwork was looking for a partner who understood the importance of solving the global problem of delays in access to just-launched medicines. This aligns with Social Impact Ventures' mission to empower fast growing enterprises that solve pressing social challenges.
"It takes game-changers who see things differently to create social movements. Our mandate is to seek out those who can put their idealism to work. Sjaak and the team at TheSocialMedwork showed us that they have the drive, passion and ability to open up healthcare and provide new medicines to everyone, everywhere and make a real change on a global scale.” says Verloop. “This investment in TheSocialMedwork is a meeting of hearts and minds."
Verloop will be joined on TheSocialMedwork’s new Supervisory Board by Neelie Kroes, former EU Commissioner and key figure in the international tech startup ecosystem. Kroes brings a wealth of knowledge and experience as board member to some of the world’s leading disruptive companies. Kroes also made a name campaigning for fairness in international business practices as EU Commissioner for Competition. "Healthcare has lost sight of the people it serves. TheSocialMedwork is solving an understated problem, one which was consistently recognised by the EU: the unacceptable gap in the availability of medicines.”
TheSocialMedwork was founded in 2015 by Sjaak Vink whose vision was to build a global health platform where medicines are accessible and can be afforded by everyone. Vink, who serves as CEO, believes that helping patients access unavailable medicines is just the first step in building a new universal health platform that applies new thinking to create new opportunities and technology to solve the world's healthcare issues.
"We are excited Neelie and Willemijn will join us in our mission at the same time that we are delivering medicines to patients and doctors in over 70 countries. We were unaware that there is such a high need and are honoured to be able to help every patient and doctor in need of new treatment options. With the new funds from Social Impact Ventures we intend to further strengthen and scale-up our systems, recruit new staff, and enable our service to help even more people. For me, we are responsible for not only helping people right now, but also help creating a sustainable future alternative that serves everyone." said Vink.
About Social Impact Ventures
The Dutch investment fund Social Impact Ventures (Social IV) invests in fast growing, ambitious social enterprises who have a financially sound business model and a positive and measurable impact on people and/or the environment. In addition to funding, Social IV offers active venture assistance to support impact companies to be successful. Since 2015, Social IV invested in Taxi-Electric, 1% Club, Afval Loont, Bomberbot, BlackBear Carbon, WeAreSpindye, Goodfuels and Marqt.