PETALING JAYA: Doctor Anywhere (DA), a regional tech-led healthcare company headquartered in Singapore, announced today that it has raised its S$88 million (RM272 million) Series C financing round, one of the largest private funding rounds raised by a healthtech company in Southeast Asia, led by growth equity investor Asia Partners, and other investors including Novo Holdings, Philips and Malaysia-based OSK-SBI Venture Partners.
Existing investors also participated in the round, including global investor EDBI, Square Peg, IHH Healthcare, Kamet Capital and Pavilion Capital. This round brings the total capital raised by Doctor Anywhere since founding to more than S$140 million.
Since its launch in 2017, DA has grown exponentially to serve more than 1.5 million users across Southeast Asia. Over the past 18 months, the Covid-19 pandemic has also served as a catalyst to fast-track the adoption of telehealth services in the region, an innovation which enabled the healthcare industry to continue providing high-quality, affordable care to families through the crisis.
DA founder and CEO Lim Wai Mun said its mission is to be the largest tech-enabled omnichannel healthcare provider in Southeast Asia, and applying innovative technology to improving patient outcomes is core to its differentiated offerings.
DA is currently available in Singapore, Malaysia, Thailand, Vietnam, and the Philippines. The group also recently announced the establishment of regional tech hubs in Bangalore, India, and Ho Chi Minh City, Vietnam.
DA has built a strong ecosystem of payers, providers, and patients across its core markets. It has close to 2,800 doctors and medical professionals within its network in the region, and it also works closely with major hospitals and healthcare institutions.
This latest investment will significantly bolster DA’s market leadership and put the group in a leading position to further deepen its presence in its existing markets. It will also allow the group to expand into new markets, to drive its mission of transforming the regional healthcare landscape through technology.
“We will utilise 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,” added Lim.
Based in Malaysia, OSK-SBI Venture Partners is a fund management company jointly established by OSK Ventures International Bhd, a Malaysia-based private equity company and SBI Ventures Malaysia Sdn Bhd (a subsidiary of SBI Holdings Inc, a financial services firm based in Japan). Its main investment targets are promising private companies within the Asean region.