India’s leading digital healthcare platform, MediBuddy, has secured an additional investment of $18 million, signaling robust support from existing backers Quadria Capital, Lightrock, and TEAMFund. This infusion of equity capital underscores MediBuddy’s resolute commitment to expansion through strategic acquisitions.
Building on Strong Foundations: A Look Back at Funding Success
In a remarkable Series C funding round held in February 2022, MediBuddy garnered an impressive $125 million. The recent $18 million injection of funds further bolsters MediBuddy’s capabilities to navigate the current landscape while pursuing its ambitious growth targets in the coming three years. A significant portion of this fresh capital will be prudently directed towards strategic acquisitions, augmenting its current offerings. This strategic alignment mirrors MediBuddy’s visionary path and facilitates exponential growth.
CEO’s Perspective: Navigating Growth with Strong Investor Support
Satish Kannan, co-founder and CEO of digital health platform MediBuddy, emphasized the pivotal role that investors have played in the platform’s journey. He pointed out that MediBuddy has consistently achieved an impressive Compound Annual Growth Rate (CAGR) of 95.5% over the last three years. The additional funds will prove instrumental in driving strategic acquisitions, expanding the platform’s reach, and enriching the breadth and depth of its services. Kannan highlighted MediBuddy’s relentless pursuit of rendering high-quality healthcare accessible to India’s vast population, further cementing its status as a digital healthcare leader.
In a statement, Satish Kannan, co-founder and CEO of MediBuddy, said, “The additional funds will be critical in driving our strategic acquisition initiatives, further expanding our reach, and enhancing the depth and breadth of our services.”
“Our constant endeavour has been to make high-quality healthcare accessible to a billion people. This move further solidifies our stance as a market leader in the digital healthcare landscape,” he added.
Elevated Growth Across Domains: Expanding Presence and Services
MediBuddy’s growth story has been propelled by its foothold in both the Corporate and Retail sectors. Recent strategic acquisitions, such as Clinix, a platform focusing on rural India’s online medical consultations, and US-based Aetna Inc’s vHealth, have fortified its standing in the healthcare sphere.
Empowering Healthcare Access and Success Metrics
MediBuddy’s impact is manifest in its ability to assist over 35,000 users daily. Providing easy access to specialist doctors within 10 minutes, 24/7, 365 days a year, the platform’s convenience and efficient service delivery have driven substantial growth in online doctor consultations. With a customer base exceeding 3 crore Indians, MediBuddy’s ability to secure significant funding while maintaining a balanced growth trajectory underscores its vision and operational excellence.
Leading the Digital Healthcare Revolution
MediBuddy’s role in India’s digital healthcare transformation is undeniable. Boasting a partner network of more than 90,000 doctors across 22+ specialties, 7,100+ hospitals and clinics, 4,000+ diagnostic centers, and 2,500+ pharmacies, the platform is a comprehensive healthcare ecosystem. With a workforce exceeding 2,200 members, MediBuddy stands as a beacon of innovation and progress in the health-tech industry.
TL;DR:
MediBuddy, India’s prominent digital healthcare platform, secures $18 million in additional funding, backed by existing investors. The platform’s strategic acquisitions and impressive growth metrics, including a 95.5% CAGR over three years, underline its commitment to high-quality healthcare accessibility. With a robust partner network, MediBuddy remains at the forefront of India’s digital healthcare transformation.
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