The Bangalore-based company has also announced its entry into the health insurance segment

Shashank ND, Founder & CEO of Practo

Practo, a leading healthcare platform with operations in India, Southeast Asia and Brazil, has announced US$55 million Series D funding in a round led by Tencent Holdings, which had led US$90 million Series C in the company in 2015.

Three new investors — ru-Net, RSI Fund (owned by Japan’s Recruit Holdings) and US-based Thrive Capital, have also joined the round. Other existing investors Sequoia Capital, Matrix Partners, Capital G (formerly Google Capital), Altimeter Capital and Belgium’s Sofina have also participated.

With these funds, Practo will further build an integrated platform to unlock value for the entire healthcare ecosystem and invest further in its international operations.

Over the past few months, Practo has grown rapidly to provide a more integrated experience catering to all healthcare needs of consumers including faster booking, online consultation, online medicine ordering, booking diagnostic tests and managing their health records. Additionally, Practo also provides health content for consumers written by doctors.

Practo partners with healthcare providers like doctors, clinics, diagnostic centres, hospitals etc. to help them improve patient experience and bring in efficiencies in their business. On the enterprise side, Practo’s customers include marquee institutions like Max Healthcare, Manipal, Cloud9 and many others who use Practo’s software to provide a superior healthcare experience to their patients.

Also Read: Top 5 Indian SaaS companies scripting success stories worldwide

Practo has also expanded its enterprise software to the Middle East with customers including noted institutions such as Lifeline hospital in Abu Dhabi and American Academy of Cosmetic Surgery Hospital in Dubai using Insta – the full-stack HIMS solution for enterprises.

Practo’s recent acquisition of advanced analytics firm Enlightiks enables it to offer business intelligence solutions to healthcare enterprises. With this Practo has completed the entire suite of products both on consumer and healthcare practitioners side and opened the possibility of unlocking more value for the entire ecosystem.

“This round will help us continue our geographic expansion. 2017 will be the year our integrated healthcare platform comes to life and we will partner with various service providers to build solutions with Practo. This will be made possible by providing a central infrastructure on which the entire healthcare ecosystem can interact, connect, create and exchange value by linking layers of data, communication and payments to deliver better care,” said Shashank ND, Founder and CEO of Practo.

Practo is the leading healthcare platform connecting millions of patients with hundreds of thousands of healthcare providers around the world. Practo provides a single platform to help consumers with all their healthcare needs – from finding the right healthcare provider to online doctor consultation, diagnostic tests, managing health records and even ordering medicines. Practo also makes software products that help healthcare providers become more efficient and provide higher quality healthcare to millions of patients around the world. Practo is dedicated to focus healthcare around the consumer and helping humanity live healthier longer.

Also Read: 4 healthcare trends to watch for in 2016

Nearly 45 million appointments are managed on the platform annually. The company has presence in 15 Countries

“Practo has made impressive progress, expanding its platform to cover more and more healthcare needs of consumers and providers. A full stack model in healthcare is very difficult to pull off, but Practo has built and rapidly scaled a full-stack solution that is rare to see globally,” Hongwei Chen, Executive Director of Investment and M&A at Tencent.

In 2015, Practo acquired hospital information management company Insta for US412 million

The post Indian medtech startup Practo raises US$55M Series D led by Tencent appeared first on e27.