Adelaide-based allied health software company Splose has raised $46 million in Series A funding, which it says is the largest funding round ever raised by a South Australian SaaS startup.
The funding was led by US growth investment firm Spectrum Equity, with support from Athletic Ventures, a group backed by professional sports stars.
Splose did not reveal its new valuation, but reports indicate the company is now valued at well over $100 million.
Splose was founded in 2016 by CEO Nicholas Sanderson. Before this latest raise, the company secured $1.5 million in Series A funding in November 2023, after raising $1 million in August 2022. A year ago, Sydney-based fund EVP also led a $5 million funding round.
Splose offers an all-in-one software platform that helps physiotherapists, occupational therapists, speech pathologists, and other allied health professionals manage appointments, client onboarding, billing, and compliance in one place.
According to the company, its software is now used by over 20,000 allied health practitioners across Australia, New Zealand, and the UK, with usage doubling in the past year.
CEO Nicholas Sanderson said the move to a much larger funding round was driven by strong growth in the UK and the launch of new AI-powered features.
“We launched Splose AI in late 2024 and have been adding new features regularly ever since based on the feedback of our users,” he said.
“Our AI scribe helps practitioners focus on being present with clients, both transcribing sessions and allowing practitioners to dictate, then summarising these transcripts into draft-ready notes for final editing and approval,” he said.
“Ask AI can summarise previous session notes, pull together client history and summarise client documents. Doctor referral letters can be drafted effortlessly with a prompt, bringing all the clinically relevant information into a letter ready to send to general practitioners.”
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