SilverCloud Announces Significant Expansion, Investment in the UK

  • SilverCloud Health expands UK operations in line with increased demand for digital mental health solutions.
  • Expansion includes the opening of a new office in Warwick and the creation of UK jobs.
  • SilverCloud surpasses 125,000 users milestone on its online platform.

LONDON –  31 Oct 2017 – SilverCloud Health, the market leading provider of digital behavioural health solutions today announces continued investment and expansion of its UK operations, in response to the gaining traction of digital therapy solutions within the UK healthcare sector. The company, which recently raised 8.1m (USD) in funding, led by B-Capital Group, founded by former Facebook co-founder Eduardo Saverin, has also achieved a milestone, having surpassed 125,000 users on its online behavioural therapy platform. To support this growth, they are also announcing the opening of a new office in Warwick and the creation of 10 UK jobs. The multi-award-winning company recently received the Frost & Sullivan 2017 Award for best practices in enabling technology leadership in the internet-delivered cognitive behavioural therapy (CBT) industry and is shortlisted in the Deloitte Technology Fast 50 Programme 2017.

The need for cost effective healthcare is increasing, with NHS providers reporting a deficit of £886m in the first nine months of the financial year[1]and access targets set to increase for NHS Improving Access to Psychological Therapy (IAPT) services by 2020.  With the current focus on harnessing technology to improve patient care, as seen by the recent Government pledge of £67.7 million to expand digital mental health services. Digital is very much on the agenda, and seen as a way to help to address some of the biggest resource challenges, around cost of service delivery, workforce shortages and access to services. Only 37 per cent of adults, with conditions such as anxiety or depression, access mental health treatment, with significantly lower treatment rates in black ethnic groups and lower income households[2].

 “The UK is a key market for digital healthcare solutions. Market demand is driving the need for scalable clinically validated solutions that address a growing need while ensuring a high quality of service provision.  We’ve seen exponential growth of clients, supporting over 125,000 users to date since 2012 but this is just the tip of the iceberg. Today’s announcement marks a significant milestone in our journey, enabling us to continue the growth of what is now the largest library of behavioural health programmes and to expand digital into new areas such as social care,” said Ken Cahill, CEO of SilverCloud Health.

SilverCloud is currently used by over 50% of NHS IAPT services; within private care SilverCloud has rapidly become the digital provider of choice for the market leaders seeking to create outcomes-based blended physical and emotional health solutions.

With the growing application of mobile and digital technologies in the healthcare space digital solutions like SilverCloud are now seeking to bridge the gaps in social care. Providing connected health solutions focused on the movement of care to the home, giving patients greater control over their own health.

[1] The King’s Fund quarterly monitoring report available at: http://qmr.kingsfund.org.uk/2017/22/overview

[2] Adult Psychiatric Morbidity Survey: Survey of Mental Health and Wellbeing, England, 2014 [NS] Publication date: September 29, 2016 Available at: http://content.digital.nhs.uk/catalogue/PUB21748