The company had a positive cash balance of £4.4mln as at the end of September 2020, which it will use to scale up its core product, Bleepa, a medical imaging communications app.
Much of the groundwork now complete, Feedback told investors, and the focus is to further grow Bleepa's market base and create a strong platform for revenue growth. To aid this, the company recently strengthened its marketing team and hired an integration specialist in order to help increase the speed of roll-out.
"This was an extremely busy year at Feedback as Bleepa established a market-leading customer experience and has set its stall as a medical imaging communications app of choice. We remain extremely excited by the significant growth opportunity within existing and new markets as we further develop functionality and partnerships, and gain market share," said Rory Shaw, the non-executive chairman of Feedback in the AGM statement.
In a separate announcement, Feedback revealed that Bleepa has been selected as a WISH 2020 Innovation Booster at the World Innovation Summit for Health (WISH), which is taking place later this month in Doha, Qatar.
The WISH Innovation Booster provides a chance for entrepreneurs to exhibit their healthcare innovations in front of some of the world's leading health experts, health ministers, decision-makers, and investors. WISH provides a platform to enable delegates to engage with these cutting-edge ideas that are changing healthcare from the ground up.
"Every year, WISH selects a handful of products from around the world that it really wants to champion and promote, and it awards them a WISH fellowship, providing a year-long dedicated programme of support to launch those products into the Middle-Eastern market and we are proud to say that Bleepa has been chosen as one of their WISH 2020 Innovation Boosters. This represents a fantastic opportunity for us to really promote Bleepa into the Middle-East," said Feedback’s chief executive officer, Tom Oakley in the statement.