practo funding

practo funding

Bengaluru-based Practo today said it has raised $90 million in Series C round of funding from a group of investors, including Google Capital, Sequoia Capital India and China’s Tencent, who made debut deal in India with this investment.

Other investors who also participated in this round funding are Sofina, Altimeter Capital, Matrix Partners, Sequoia Capital Global Equities and Russia’s Yuri Milner.

The fresh funding raised will be used by Practo to strengthen its teams,product line, platform and also in expansion of its international presence in South East Asia, Laatin America and Middle East.

With this funding the startup is claiming to be Asia’s largest healthcare platform with over 10 million searches a month.

The investment in India’s Practo is identified as one of the largest in the online healthcare segment globally, making it one of the most well funded in the space with over $125 million (Rs 800 crore) in funding. Earlier in February this year Practo has raised $30 million from Sequoia Capital and Matrx Partners.

Started in 2008 by Abhinav Lal and Shashank ND, Practo is a digital healthcare leader and one of the fastest growing healthcare companies in India.

Practo plans expansion from the 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. It has nearly 200,000 healthcare practitioners on it and over 10 million monthly searches by consumers.

The startup offers its flagship software called Practo Ray, an online medical practice management software that provides doctors with appointment scheduler and electronic medical record.

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Practo has also acquired quite a few companies as last month it has acquired Mumbai-based Genii Technologies, a startup focused on product design and development and earlier to that it acquired Delhi-based fitness tech startup FitHo in April this year.

The closes competitor of Practo in India is Ziffi (earlier known as DocSuggest) which in last year-end raised Rs 15 crore from Orios Venture Partners.



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