Healthtech startup Good Methods Global (GMG) has raised an undisclosed amount of Series A round of funding led by Accel Partners. With this move, Shekhar Kirani, Partner at Accel India, will join GMG’s Board of Directors. This takes GMG’s total fundraise, to date, to $9 Mn through three rounds of funding.
GMG is based in Orlando, USA with its global team spread out across Houston (Texas, US) and Thiruvananthapuram (Kerala, India). The startup will use the newly raised funding to fuel sales, product adoption and engineering and for talent acquisition.
The startup was founded in 2015 as a 15-member team. As per a company statement, over 100 people are expected to join the current team, within the next six months, as it plans to expand its team in India & USA.
Talking about the venture, Abilash Krishna, the CEO of GMG said: “With our first offering for dentistry, we are disrupting the status quo of how technology is leveraged by dental clinics in North America for improving clinical efficiency and business management. Our vision is to be the number one SaaS platform with enterprise grade tools to improve care coordination and practice profitability.”
Good Methods Global has developed a cloud-based practice management platform for the US health and wellness industry. The first area of focus for the product is dentistry. It counts large dental groups and multi-location practice chains among its clientele. The GMG practice management platform also facilitates automation of business functions, patient engagement, business intelligence tools, enterprise reporting and data analytics.
On the other hand, this is investor Accel Partners’ first bet in Kerala. Shekhar Kirani, Partner at Accel said: “Good Methods Global resonates with our ethos in disrupting a very large market with deep insight and a well thought out execution plan. The consolidation happening in dental businesses in the US is pushing such a disruption in the healthcare technology space. GMG, with its deep product thinking, has entered the market at the ripe time.”
Earlier this month Bengaluru-based truck network platform 4tigo Network Logistics raised about $10 Mn Series A funding from existing investors Accel Partners and Infosys co-founder Nandan Nilekani. Prior to that in April 2017, Mumbai-based content platform for chronic health issues Sepalika announced a $750K Seed round of funding from Accel Partners. In March 2017, early-stage venture fund, pi Ventures secured an undisclosed amount of investment from venture capital fund Accel Partners.
In November 2016, the US- and Bengaluru-based venture capital firm raised $450 Mn funding as part of its fifth India fund. Accel entered India in 2008 when it acquired Erasmic Venture Fund and has since backed hundreds of companies like BookMyShow, BlackBuck, BlueStone, Flipkart, FreshDesk, Portea, Power2SME, Swiggy, UrbanClap, among others.