Funds to help Practo expand product line and continue to look for potential acquisition of companies
Shashank ND, Founder & CEO, Practo
Asian healthcare platform Practo today announced that it has closed US$90 million in Series C funding. The round was led by Tencent, with participation from institutional investors including Sofina, Sequoia India, Google Capital, Altimeter Capital, Matrix Partners, Sequoia Capital Global Equities and Yuri Milner.
This development comes a few months after Practo closed US$30 million in Series B funding from Sequoia India and Matrix Partners, bringing Practo’s total funds raised to US$125 million (which includes its seed and angel round).
Over the next three to six months, Practo will expand its product line and continue to look for potential acquisition of companies to encompass key healthcare segments. It will continue to add talent to its team of 1500 Practeons, and will expand from the current 35 Indian cities and three countries to over 100 Indian cities and 10 countries across Southeast Asia, Latin America, Middle East and Eastern Europe.
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“We want to build a single health app that helps people live healthier by making better healthcare decisions for themselves and their loved ones. We are excited to partner with some of the best investors, and the global partners will give us the edge to continue building global healthcare products that our users love. Millions of users trust our platform every month, and with our international expansion, we aim to take Practo to billions of people globally, said Shashank ND, Founder and CEO, Practo.
The startup claims to have nearly 200,000 healthcare practitioners on the platform and over 10 million monthly searches by consumers.
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