Sequoia, Matrix invest in Bangalore-based search engine that locates doctors
12 February 2015
Practo Technologies, a search engine that locates doctors by specialties in specific areas, has raised $30 million in a second round of institutional funding led by existing investor Sequoia Capital with participation from Matrix Partners.
The Bangalore-based startup, which has a presence in India, Singapore and the Phillipines, will use the proceeds for its expansion.
''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 & CEO of Practo Technologies.
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, the company said in a statement.
Following the fund raising, Avnish Bajaj, co-founder an managing director, Matrix India, will join Practo's board. Every month, more than 1 million users book 120,000 appointments via Practo Search. Practo Search volume has grown more than 10x in the last 1 year.
''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.''
The company had raised Rs25 crore from Sequoia Capital in 2011.
''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, Managing Director at Sequoia Capital.