Bangalore-based healthcare platform, Practo, has raised $90M in Series C round funding led by Tencent, with participation from marquee institutional investors including Sofina, Sequoia India, Google Capital, Altimeter Capital, Matrix Partners, Sequoia Capital Global Equities and Yuri Milner.
Over the next three to six months, Practo plans to expand its product lines and will continue to look for potential acquisition of companies to encompass key healthcare segments and provide a seamless experience across medicine, wellness and fitness, globally.
Further, it will continue to add top notch talent to its current team of 1500 Practeons. The company also plans to expand its footprint from current 35 Indian cities and Three countries to over 100 Indian cities and 10 countries across South east Asia, Latin America, Middle East and Eastern Europe.
Founded in 2008 by Shashank ND and Abhinav Lal, Practo aims to help improve human longevity by simplifying healthcare. It helps millions of consumers around the world to find the best doctors and make better healthcare decisions.
In past six months, the startup has grown over six times with nearly 200,000 healthcare practitioners on its platform and over 10 Mn monthly searches by consumers looking to make the right healthcare choices.
Practo is in a unique position of having a globally respected strong B2B software product (Practo Ray) that is tightly integrated with its much loved consumer offering (Practo Search) – creating a hyperloop and connecting the entire healthcare ecosystem, while helping millions of consumers to make better healthcare decisions.
“We are very excited to partner with Practo as one of our first few investments in India. We look for ambitious, visionary Internet companies that are improving people’s lives at a global scale. Practo is a digital healthcare leader and one of the fastest growing healthcare companies in India. We look forward to work with the Practo team as the company transforms healthcare in India and international markets,” Hongwei Chen, Senior Director of Investment and M&A at Tencent said.
This new round comes in just a few months after Practo had raised $30 Mn in its Series B round from Sequoia India and Matrix Partners. This round takes the total funds raised by Practo to $125 Mn. The company is also said to be in talks to acquire Qikwell Technologies Pvt. Ltd.
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