Practo raises US$55mil Series D, led by Tencent
By Digital News Asia January 19, 2017
- Funds to help Practo build an integrated platform
- Invest in international operations
PRACTO, a Bangalore-based healthcare platform, on Jan 18 announced US$55 million Series D funding in a round led by Tencent.
Three new investors joined Practo – ru-Net, RSI Fund (owned by Recruit Holdings) and Thrive Capital. Other existing investors Sequoia Capital, Matrix Partners, Capital G (formerly Google Capital), Altimeter Capital & Sofina also participated.
With these funds, Practo will further build an integrated platform to unlock value for the entire healthcare ecosystem and invest further in its international operations.
“We welcome our new investors to the Practo family and thank existing partners for their continued support. This round will help us continue our geographic expansion. 2017 will be the year our integrated healthcare platform comes to life and we will partner with various service providers to build solutions with Practo.
“This will be made possible by providing a central infrastructure on which the entire healthcare ecosystem can interact, connect, create & exchange value by linking layers of data, communication & payments to deliver better care,” said Practo founder & CEO Shashank ND (pic, above).
Practo was founded in 2008, and had raised three rounds of funding worth a total of US$124 million. Its Series C funding round was led by Tencent in August 2015, at US$90 million.
Over the past few months, Practo has grown rapidly to provide a more integrated experience catering to all healthcare needs of consumers including faster booking, online consultation, online medicine ordering, booking diagnostic tests and managing their health records.
Additionally, Practo also provides health content for consumers written by doctors.
Practo partners with healthcare providers like doctors, clinics, diagnostic centres, hospitals etc. to help them improve patient experience and bring in efficiencies in their business.
On the enterprise side, Practo’s customers include marquee institutions like Max Healthcare, Manipal, Cloud9 and many others who use Practo’s software to provide a superior healthcare experience to their patients.
Practo has also expanded its enterprise software to the Middle East with customers including institutions such as Lifeline hospital in Abu Dhabi and American Academy of Cosmetic Surgery Hospital in Dubai using Insta – the full-stack HIMS solution for enterprises.
Practo’s recent acquisition of advanced analytics firm Enlightiks enables it to offer business intelligence solutions to healthcare enterprises. With this Practo has completed the entire suite of products both on consumer and healthcare practitioners side and opened the possibility of unlocking more value for the entire ecosystem.
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