Raises $30 million Series B Financing from Sequoia Capital and Matrix Partners
Practo announced its expansion plans to 35 Indian cities and more than six international locations by March 2016. Practo is already present in India, Singapore and Phillipines and growing rapidly in each of these markets.
The $30 million series B funding is one of the largest investments into Digital Health globally and the largest for any Indian healthcare technology company. Existing investor Sequoia Capital led the round with participation from Matrix Partners. Avnish Bajaj, MD or at Matrix India will join Practo’s Board of Directors.
“We are on a mission to improve human longevity by simplifying healthcare. Over the next 12 months we will expand to 35 cities in India and several more international locations to help hundreds of millions of consumers around the world find the best doctors and make better healthcare decisions,” said Shashank ND, Founder and CEO, Practo.
“Practo is revolutionising healthcare by enabling consumers to find the best doctors, book instant appointments and make better, more informed health decisions. It is our privilege to work with Shashank ND and Abhinav Lal, the founders of Practo, to scale and bring Practo to millions of consumers around the globe,” said Avnish Bajaj, co-Founder and MD, Matrix India.
“From our first seed investment in Practo in 2011, the company has come a very long way, thanks to the hard work of an incredibly committed entrepreneurial team. The company has now scaled to being the market leader in online healthcare in India, a category that has created multiple multi-billion dollar companies around the world. We are deeply committed to Practo’s goals and aspirations to transform access to healthcare and positively impact society,” said Shailendra Singh, MD at Sequoia Capital.
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