Health and aged care regtech startup Zipline banks $6 million in series A2

Health and aged care compliance startup Zipline.io has raised $6 million in a series A2 round.

The raise was led by EVP with support from King River Capital.

The software-as-a-service (SaaS) venture will use the cash to double its current headcount to 80, develop its customer base through Australia’s hospital network, and prepare for a US launch in early 2022.

Zipline is a software and kiosk platform to manage visitor, staff, volunteer and contractor compliance on site in aged care facilities and hospitals..

In aged care, it ensures visitors have a valid flu vaccination and they’re fever-free. At hospitals, it ensures staff, contractors and visitors are Covid vaccinated and have police clearances.

The company has two other products: RateIt – its original feedback solution, which gathers in-the-moment feedback to improve the customer experience;  and the recently acquired employee pulse software, 6Q.io, which tracks a team’s mood by sending six short, changing questions weekly.

RateIt’s customers include Adidas, Coles,and Mitre10.

Zipline grew by more than 300% in 2020 to post more than A$5 million in annual recurring revenue.

Drowning in compliance

Former Microsoft executive Michael Momsen founded the business four years ago after leaving the software giant.

“The demand for automating in-person compliance is here to stay. Organisations were already looking into this space, the pandemic has simply made these issues more critical to solve now,” he said.

“As a practical example, hospitals or schools can’t have an air-con guy walking around without a police clearance. We also know many healthcare providers who want people to have the Varicella vaccine before coming on site. Our tech is solving these evolving compliance requirements, which is a problem felt world over.”

Momsen said that many organisations “are drowning in compliance admin” so Zipline frees them up to focus on what they do best.

“I’m proud to have an A-grade team of Zipliners with me, as well as the support of EVP and King River Capital,” he said

Our motto through the pandemic has been ‘Be fast, be secure, be easy and be awesome to work with’, and this wouldn’t be possible without their commitment to our vision.”

St Vincent’s executive GM Prue Densley said Zipline allows them to provide extra care and support for those who will benefit the most

“Aside from automatic compliance, one of the things we love is the powerful reporting. We can see clear trends in visitations,” she said.

EVP partner Justin Lipman said their investment case became self-evident after watching Momsen build his team.

“Compliance management is a new category that clearly has some significant tailwinds as a result of the pandemic. Watching the Zipline solution spin out of an existing software platform in the midst of global upheaval was inspiring,” he said.

“We were particularly impressed by the team’s ability to solve problems quickly and secure rapid customer adoption. Not only is he a stellar operator and founder, but he’s attracted some of Australia’s best technology and startup minds. It is rare to find an early stage enterprise software business with such momentum.”