Paul Bassat’s VC fund has doubled down on a medtech startup’s $18 million raise with Malcolm and Lucy Turnbull also backing it

- December 8, 2020 < 1 MIN READ
HealthMatch founder Manuri Gunawardena. Photo: supplied
Square Peg Capital has led an $18 million round into a three-year-old medtech startup that’s like Tinder for clinical trials, matching researchers with patients.

Paul Bassat’s fund led a $6 million series A into HealthMatch, founded by a UNSW med student, in late 2019 following a five-day crash course into the startup, and then joined the board.

Malcolm and Lucy Turnbull also joined this latest round, along with Tempus Partners returning for a third investment. Brandon and Nicky Carp founders of Unified Healthcare Group, which Square Peg backed (UHG was acquired by Medhealth Pty Ltd last year) also joined the raise alongside Singapore’s January Capital.

The Sydney-based startup uses machine learning to automate clinical trials through contract research companies.