As the South African startup LocumBase prepares for exponential expansion, Grindstone Ventures has provided the company with an undisclosed investment round. LocumBase is an independent web platform that facilitates medical bookings.
The Grindstone Accelerator programme was successfully finished by the startup in the previous year, and it graduated as the winner of its cohort.
The money that the firm got from Grindstone Ventures, a firm that offers finance to accelerator alumni with a primary focus on companies that were created by women, will assist the company as it starts to grow.
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According to Catherine Young, managing partner of Grindstone Ventures, the company’s culture is built on the principle of offering equitable investment opportunities for firms that were created by women.
“LocumBase, as a Grindstone Accelerator alumni company, has grown exponentially since graduating as the overall winner of their cohort in 2021, and we are excited about the opportunity to make an investment into a business that is disrupting the traditional way of allocating locums to medical practices,” she said.
A Look At What The Startup Does
LocumBase was established in 2016 by Zulé Vuuren with the goal of simplifying the process of seeking a locum tenens position by connecting South African practises with independent medical experts.
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“As a practice owner or primary practitioner you need to rest and revive in order to provide the very best care to your patients. You need a simple, seamless way to manage your temporary team and find the best new locums to grow your business,” Vuuren said.
This is something that LocumBase intends to give.
“LocumBase’s tech stack has unlimited application. We are geared up to scale across South Africa and look ahead to expand across boarders before the end of 2023. We see more and more interest from untapped industries where our core software can have a positive impact on workforce efficiency and employment opportunities, from day one implementation,” Vuuren said.
LocumBase health LocumBase health
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based lawyer, who has several years of experience working in Africa’s burgeoning tech startup industry. He has closed multi-million dollar deals bordering on venture capital, private equity, intellectual property (trademark, patent or design, etc.), mergers and acquisitions, in countries such as in the Delaware, New York, UK, Singapore, British Virgin Islands, South Africa, Nigeria etc. He’s also a corporate governance and cross-border data privacy and tax expert.
As an award-winning writer and researcher, he is passionate about telling the African startup story, and is one of the continent’s pioneers in this regard. You can book a session and speak with him using the link: https://insightsbyexpert