Brain-tracking software firm Cambridge Cognition Holdings has appointed a new COO following a £2.5 million fundraise.

The listed company, which develops and markets neuroscience technology to assess brain health, raised the money through a share placing.

It said Dr. Matthew Stork has joined as COO while it intends to use the cash to further strength its management team and also invest in its software and digital intervention projects.

It will also look to replicate its US business in the EU and Far East.

"The new funding will enable us to accelerate our growth as we expand both eCOA and digital health,” said CEO Dr Steven Powell.

“The funding will also allow us to strengthen the balance sheet for discussions with corporate partners and expand the management team with the addition of Matthew Stork as COO.

“We are grateful for the support of our existing shareholders and welcome the investment of our new investors."

Stork has expertise in a broad range of healthcare sectors including healthcare IT, diagnostic imaging, clinical service delivery, capital devices and pharmaceuticals.

He has held executive roles at InHealth Group, General Electric, ArjoHuntleigh, Toshiba Medical and Smith and Nephew.  

"Matthew will play a key role in driving our penetration of cognitive and clinical assessment markets and to forming strong relationships with corporate partners,” added Powell.

“Matthew joins us at an exciting time - we have a record level of contracted revenue and substantial demand for our innovative offerings which will provide a platform for growth."