Practo, the healthcare technology start-up from Bangalore that helps you find doctors, has announced that it has raised $30 million in Series B round. The round is led by its existing investor Sequoia Capital with participation of Matrix Partners.
This investment marks the biggest investment in the digital healthcare space outside US. With this present $30 Million round taken into account, the company is now valued in excess of Rs. 1,000 crore.
The company will use this funding to expand its reach to 35 more cities in India. It is currently operating in India, Singapore and Phillippines and is planning to expand to multiple other countries. Practo is also going to grow its team to more than 1500 people by December 2015.
Practo was founded in 2008 by Shashank N D and Abhinav Lal. It is available as a SaaS where doctors pay annual subscription fees of about Rs 12,000. Practo claims to have 30,000 doctors currently using the software that allows them to keep all records, including patient records with sharing feature. Practo Search, the doctor search engine of the company is the largest doctor search engine in Asia with about 4 million monthly searches.
In India, Practo’s competition is with startups like Lybrate, Helpingdoc, and Ziffi. Recently, all of them has raised funding. However, Practo’s current funding round may accelerate it well above the rest.