Gurugram-based medical assistance company Credihealth has raised $1.5 Mn in a Pre-Series A funding round from Tolaram Inc., the family office investment arm of Tolaram Group and Mountain Pine Capital. Bala Swaminathan, ex-KPMG Partner and one of the earliest investors in the platform, has invested in this round as well.
Sasha Breen of Mountain Pine Capital said, “Credihealth has a robust business model, a consumer-centric approach and is backed by a superior team and tech infrastructure. We are determined to help in developing India’s healthcare industry by helping the company build on its expertise and expand the consumer base with its dynamic offerings.”
Ravi Virmani, Gaurav Gaggar and Saurabh Uboweja founded Credihealth in 2013 with an aim to be the first port of call for customers having healthcare-related needs, doubts, or queries. The portal provides personalised guidance in hospitalisation services to patients with the help of in-house doctors to sort out queries and questions of the patients. It leverages technology to offer complete support for all the medical needs of its consumers.
Commenting on the platform’s use case, co-founder Ravi Virmani said, “Credihealth stands for Credible Healthcare Information and Delivery. Due to lack of transparency in the Indian healthcare system, patients have to run from pillar to post for finding relevant information that can help in decision-making. Credihealth ensures that the patients get credible and trustworthy information, empowering them to make an informed decision.”
An interested user can reach them via their website or healthline, or through live chats on website or on Whatsapp. A Credihealth user can access verified information on hospitals and doctors, compare customer feedback, and get cost estimates. Each consumer is assigned a Credihealth Medical Expert who personally understands the medical symptoms and offers the most appropriate options. Patients and their families can then book an appointment with the right medical specialist and also get a second opinion through the platform.
Current Status And Future Plans
After growing exponentially within three years of inception, Credihealth claims to have already achieved break even and has been maintaining a positive cash flow since early stages of starting up, as per an official statement. With an M-o-M growth rate of 15% to 18%, the company has earned $930K (INR 6 Cr) revenue and generated gross revenues of $7.75 Mn (INR 50 Cr) for hospitals up to FY 2016-17.