Practo announces $55Mn Series D funding

The funds will help Practo build an integrated platform along with investments in international operations

funding

The leading healthcare platform Practo has announced $55M series D funding in a round led by Tencent. Three new investors joining Practo are ru-Net, RSI Fund (owned by Recruit Holdings) and Thrive Capital. Practo is planning to further build an integrated platform to unlock value for the entire healthcare ecosystem and invest further in its international operations.

Practo is popular destination to find the right healthcare provider and book appointments along with online consultation, online medicine ordering, booking diagnostic tests and managing their health records. It also provides health content for consumer written by doctors. It partners with healthcare providers like doctors, clinics, diagnostic centers, hospitals.

Practo's other customers include marquee institutions like Max Healthcare, Manipal, Cloud9 and many more. It has also expanded its enterprise software to the Middle East with customers including noted 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. Its recent acquisition is advanced analytics firm Enlightiks which is enabling it to offer business intelligence solutions to healthcare enterprises.

Shashank ND, Founder & CEO, Practo said, "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"

Hongwei Chen, Executive Director of Investment and M&A at Tencent said, "Practo has made impressive progress, expanding its platform to cover more and more healthcare needs of consumers and providers. A full stack model in healthcare is very difficult to pull off, but Practo has built and rapidly scaled a full-stack solution that is rare to see globally. We are excited to strengthen our partnership with Practo, and look forward to working with them to transform healthcare"

 

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