Adelaide-based allied health software company Splose has secured $46 million in Series A funding, marking the largest venture funding round ever raised by a South Australian SaaS startup. The round was led by US-based growth equity firm Spectrum Equity, with participation from Athletic Ventures, an investment group backed by professional sports stars.
While the company did not disclose its latest valuation, market reports suggest Splose is now valued at well over $100 million, reflecting strong investor confidence in the fast-growing healthcare technology platform.
Fuelled by Global Growth and AI Innovation
Founded in 2016 by CEO Nicholas Sanderson, Splose provides an all-in-one practice management platform designed specifically for allied health professionals, including physiotherapists, occupational therapists, and speech pathologists. The software helps clinics manage appointments, client onboarding, billing, clinical documentation, and regulatory compliance from a single system.
The decision to raise a significantly larger funding round was driven by rapid international expansion—particularly in the UK market—and the rollout of AI-powered features that are reshaping how practitioners manage clinical documentation.
“Growth in the UK and the launch of Splose AI were major catalysts for this round,” Sanderson said, adding that product development has been closely guided by real-world user feedback.
AI Tools Designed for Real Clinical Workflows
Splose launched Splose AI in late 2024 and has continued to expand its AI capabilities since then. One of its most widely adopted features is an AI-powered clinical scribe, which automatically transcribes therapy sessions and converts them into structured, draft-ready notes that practitioners can review and approve.
Additional AI tools allow clinicians to:
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Summarise previous session notes and client histories
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Extract key insights from uploaded clinical documents
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Generate doctor referral letters using simple prompts
These features are designed to reduce administrative workload, enabling practitioners to spend more time focused on patient care rather than paperwork.
Strong Adoption Across Key Markets
Splose reports that its platform is now used by more than 20,000 allied health practitioners across Australia, New Zealand, and the United Kingdom. Usage has doubled over the past year, highlighting strong product-market fit in a sector that has historically lacked modern, purpose-built software solutions.
Before this latest round, Splose raised $1 million in August 2022, followed by $1.5 million in November 2023, and a $5 million round led by Sydney-based fund EVP last year.
Positioned for the Next Phase of Scale
With fresh capital in hand, Splose plans to accelerate product development, deepen its AI roadmap, and continue scaling across international markets. As demand grows for digital tools that streamline healthcare operations without compromising clinical quality, Splose is positioning itself as a global platform for the allied health sector.
The record-breaking funding round not only marks a milestone for Splose but also signals growing investor interest in healthcare SaaS platforms built outside traditional tech hubs, particularly those combining domain expertise, scalable software, and applied AI.
Ruchi Kumar is the associate editor at Entrepreneur News Network and TVW News India, where she leads editorial strategy, brand storytelling, and startup ecosystem coverage. With a strong focus on innovation, business, and marketing insights, he curates impactful narratives that spotlight India’s evolving entrepreneurial landscape.