Unforgettable receives £2.25m in US investor-led round

2nd May 2017

Unforgettable, a leading online provider of dementia products and services, has secured a £2.25m investment in a round led by US investor, McKesson Ventures.

The funding – which is also supported by Unforgettable’s existing investors, Impact Ventures UK and Bridges Fund Management – will enable the company to accelerate its already impressive growth, launch products on the high street, develop a range of new products, and build a platform for international expansion.

McKesson Ventures is the venture capital arm of McKesson, the oldest and largest healthcare company in the US serving more than 50% of US hospitals. Unforgettable is one of the first examples of a UK social business securing investment from a mainstream international VC, marking a significant milestone for the social investment sector.

Unforgettable’s online platform was launched in 2015 to improve the lives of all those affected by dementia and memory loss. 850,000 people in the UK currently live with dementia, a growing figure which is expected to rise to one million by 2020.

James Ashwell, Founder at Unforgettable says, “The market is broken. There are 750,000 births a year in the UK with a vast range of brands and shops available that cater to the baby market. Yet, there are 225,000 new cases of dementia a year and there is not one brand, high street shop or trusted online retailer catering to the daily challenges of those affected by dementia. It’s a forgotten market, but that is all changing”.

Impact Ventures UK first invested in Unforgettable alongside Bridges Fund Management in 2015. Since then, the company has become an essential tool for many direct and indirect sufferers of dementia, with almost one million site visitors in the last financial year and over 1,000 clever and simple solutions to help with day-to-day patient challenges. Unforgettable has also won numerous awards including National Dementia Care’s Outstanding Dementia Innovation Award 2016, and was listed in NOMINET’s 100 Most Inspiring Tech for Good Companies.

Raf Goovaerts, Partner at LGT Impact and Impact Ventures UK says, “We have seen Unforgettable go from what was an inspirational idea to an accomplished business that is well positioned for mainstream investment. The partnership with McKesson Ventures will bring a fresh approach from a leading healthcare investor to help realise and sustain Unforgettable’s ambitious business strategies. We are delighted to continue working with Unforgettable and its investors in this exciting phase of development.”