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FITFILE founder: Think laterally about hiring – Fi5

FITFILE founder
Image credit: FITFILE / UKTN

Philip Russmeyer is the founder and CEO of FITFILE, a startup that has created a platform to pull together anonymised health data records for medical research.

Russmeyer, who has a background in investment banking and corporate strategy, founded FITFILE in 2020. The London-headquartered company says its platform opens up real-world health data to researchers “in full compliance with data protection regulations”. The aim is to deliver insights that could ultimately improve patient care and save lives.

In this week’s Founder in Five Q&A, the FITFILE CEO shares funding advice for first-time founders, why companies should “think laterally” about hiring, and why entrepreneurs should be wary of “instant reply culture”.

1. What funding advice would you give to a first-time founder?

Philip Russmeyer: Don’t panic and rush your funding journey. Founders often feel pressured to close rounds as quickly as possible, but this won’t result in the best outcome. Fundraising is currently getting longer and may take six to nine months or longer....