Southeast Asia-based tele-health and home-care player Doctor Anywhere raised S$88 million in a series C round led by growth equity investor Asia Partners, with Novo Holdings, Philips and OSK-SBI Venture Partners participating, the company said in a press release Tuesday.
Existing investors participating in the round included Singapore-based global investor EDBI, Square Peg, IHH Healthcare, Kamet Capital and Temasek subsidiary Pavilion Capital, the statement said.
The latest round will be used to bolster the company’s presence in its existing markets and expand into new markets, Doctor Anywhere said.
“We will utilize this funding to further enhance our digital capabilities, and scale up on our ability to deliver quality healthcare seamlessly to our users in Southeast Asia,” Lim Wai Mun, founder and CEO of Doctor Anywhere, said in the statement.
Doctor Anywhere has raised more than S$140 million in total capital, the statement said.
Oliver Rippel, co-founder and partner of Asia Partners, and Amit Kakar, senior partner and head of Novo Holdings Equity Asia, will both join Doctor Anywhere’s board of directors, the statement said.
Kakar said the pandemic has accelerated the trend of delivering healthcare via digital means.
“DA offers a leading approach to combining the online and offline realms of healthcare through an omnichannel strategy, bringing the delivery of patient care to the next level of tech-led healthcare,” Kakar said in the statement.
Kien T. Nguyen, a co-founder of Asia Partners, said: “DA is becoming a true regional leader in omnichannel healthcare, following the proven regionalization playbook of Southeast Asia’s first generation of internet platform companies. The powerful combination of telehealth and offline care is deeply compelling to payers, providers, and patients across our region of 650 million people.”
Doctor Anywhere, since its 2017 launch, has grown to more than 1.5 million users in Southeast Asia, with the Covid-19 pandemic spurring faster adoption of telehealth services, the statement said, adding the company has an ecosystem of payers, providers and patients, including 2,800 doctors and medical professionals in its network as well as working with major hospitals and healthcare institutions.
The service currently is available in Singapore, Malaysia, Thailand, Vietnam and the Philippines.