What is Practo?
Practo, established in 2008 and headquartered in Karnataka, India, operates as a mobile health application. The platform facilitates online connections between patients and healthcare providers and services, aiming to streamline access to medical care. The company's journey, marked by consistent investment, indicates a strong trajectory in digitizing healthcare services and enhancing patient engagement through technology.
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 Steamboat Ventures and Matrix Partners
Series C (2015): $90M supported by Altimeter Capital, Tencent, Matrix Partners, Sofina, Google Capital, and Steamboat Ventures
Series D (2017): $55M featuring CapitalG Management, Seqouia Capital, Matrix Partners, Sofina, ru-Net Holdings, Altimeter Capital, Thrive Capital, and Tencent
Series E (2020): $32M backed by Matrix Partners, AIA Company, G Capital, Steamboat Ventures, Tencent, RTP Global, and Sofina Ventures
Debt (2021): $8.1M with participation from Trifecta Capital
Key Investors in Practo
Tencent
Tencent, a global technology conglomerate, provides internet and mobile services, including online gaming and social platforms. Their investment in Practo likely signals a strategic interest in the burgeoning digital health market in India and Asia.
Seqouia Capital
Sequoia Capital is a renowned venture capital firm with a strong track record in backing technology companies. Their participation in Practo's funding rounds highlights their confidence in the company's potential for significant growth and market disruption.
Steamboat Ventures
Steamboat Ventures, an investment firm focused on technology, media, and consumer sectors, has been a consistent backer of Practo. Their ongoing support suggests a belief in Practo's long-term vision and its ability to achieve market leadership.
What's next for Practo?
The substantial enterprise-level funding secured by Practo suggests a strategic push towards scaling operations, expanding its service offerings, and potentially entering new markets. This capital infusion is likely to fuel further innovation in its mobile health application, enhance its provider network, and solidify its market leadership. The company's continued ability to attract significant investment points towards a robust business model and a promising future in the evolving digital health landscape.
See full Practo company page
