What is Practo?
Practo, headquartered in Karnataka, India, operates as a mobile health application designed to streamline the connection between patients and healthcare providers. Established in 2008, the company has been instrumental in digitizing healthcare access, offering a platform that facilitates online consultations, appointment booking, and access to a wide array of health services. Its comprehensive approach aims to enhance patient care and operational efficiency within the healthcare ecosystem, positioning it as a key player in the health-tech industry.
How much funding has Practo raised?
Practo has raised a total of $219.1M across 6 funding rounds:
Series A
$4M
Series B
$30M
Series C
$90M
Series D
$55M
Series E
$32M
Debt
$8.1M
Series A (2012): $4M with participation from Steamboat Ventures
Series B (2015): $30M led by Matrix Partners and Steamboat Ventures
Series C (2015): $90M supported by Tencent, Matrix Partners, Sofina, Google Capital, Altimeter Capital, and Steamboat Ventures
Series D (2017): $55M featuring CapitalG, Seqouia Capital, Matrix Partners, Sofina, Thrive Capital, Altimeter Capital, Tencent, and ru-Net Holdings
Series E (2020): $32M backed by Tencent, Matrix Partners, G Capital, Sofina Ventures, AIA Company, RTP Global, and Steamboat Ventures
Debt (2021): $8.1M with participation from Trifecta Capital
Key Investors in Practo
Tencent
Tencent Holdings Limited is a major Chinese multinational technology and entertainment conglomerate. It provides internet and mobile services, online advertising, and is known for its extensive investments in gaming, social media, and other technology sectors.
Matrix Partners
Matrix Partners is an investment firm that has backed numerous technology companies. Their focus often includes early-stage to growth-stage ventures, providing strategic capital and operational support to help companies scale.
Steamboat Ventures
Steamboat Ventures, founded in 2000, focuses on helping young companies become market leaders. They invest in early to growth stage companies within the technology, media, and consumer sectors.
What's next for Practo?
With a history of significant enterprise-level funding and recent strategic investments, Practo is poised for further expansion and innovation. The company's sustained access to capital suggests a focus on scaling its operations, enhancing its technological infrastructure, and potentially exploring new market segments or service offerings. Future developments are likely to center on leveraging its extensive network and data to further personalize healthcare experiences and solidify its leadership in the digital health landscape.
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