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India’s Practo, a healthcare startup, has raised US$55 million in series D funding led by China’s Tencent. Three new investors – Thrive Capital, Ru-Net, and Recruit – joined the existing investors in this round, the team announced this afternoon.
Shashank ND, Practo’s founder and CEO, said the funds will be used to foray into health insurance, partnering with leading health insurance providers, and will look at bundling them with its consumer-facing services.
Aggregating over 200,000 doctors across a network of 10,000 hospitals, 8,000 diagnostic centers, and 4,000 wellness and fitness centers in India, Brazil, Philippines, Malaysia, Indonesia, and Singapore, the five-year-old startup does everything from connecting patients to doctors, helping clinics manage their customers, and creating customized fitness digital products.
Profitable, sort of
The service gets the majority of its revenues from enterprise clients, while international markets such as Indonesia and Brazil account for 20 percent. Practo’s enterprise segment saw 60 percent growth in 2016, Shashank said. With this, Practo expects to turn profitable in certain segments this year, but it’s still some way away from a company-level break-even.
Practo acquired Bangalore-based analytics firm Enlightiks in December, its fifth acquisition in two years. Three of Practo’s five acquisitions – Quikwell, Insta, and Enlightiks – offer tech solutions for healthcare institutions.
This post Practo raises $55m series D led by Tencent appeared first on Tech in Asia.
from Tech in Asia https://www.techinasia.com/practo-tencent-funding-series-d-2017
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