Doctor Anywhere attracts USD 40.8 million in fresh funding to scale healthcare innovation
Doctor Anywhere (DA), a tech-led healthcare company headquartered in Singapore, today announced a USD 40.8 million Series C1 extension round with participating investors including Square Peg and Novo Holdings.
The influx of funds will be directed to strategically drive next-generation healthcare innovation within the company, and to deepen its presence in secondary care. The company is set to intensify efforts on product innovation in building a vertically integrated digital healthcare ecosystem. This ecosystem will cater to the rising demand for comprehensive and connected healthcare solutions that prioritize patient experiences and outcomes.
Amid a global funding downturn, the raise is testament to the company’s robust performance and business model. The company’s significant growth momentum has been fuelled by rapid customer acquisition, continuous product innovation, regional expansion efforts, and its recent acquisition of specialist healthcare group Asian Healthcare Specialists. These milestones have established DA as a key player in the healthcare sector, positioning the company to shape the future of healthcare in the region.
In the Philippines, DA launched its services in 2021, offering 24/7 on-demand video consultations with primary care doctors, scheduled appointments for specialized care, and access to mental health support.
Filipino users highly appreciate DA’s convenience and top-tier care, prioritizing their well-being and that of their loved ones. Through a partnership with Southstar Drug, DA offers streamlined medication purchase and same-day doorstep delivery, ensuring a seamless healthcare journey. By 2023, nearly one in five specialist consultations (18 percent) involved pediatricians, addressing prevalent conditions like acute upper respiratory infections, viral illnesses, and common colds.
Tushar Roy, Partner at Square Peg, noted: “Our continued investment underscores our strong conviction in DA’s growth trajectory and its emergence as the dominant digital health platform across South East Asia.”
“We’ve successfully built a regional digital healthcare ecosystem, delivering accessible and convenient healthcare services through digital innovation. In the next phase of Southeast Asia’s healthcare evolution, our goal is to empower individuals to take charge of their health and well-being with early detection and preventive measures against chronic illnesses. We’re excited about the possibilities that Generative AI offers to advance this further,” said Lim Wai Mun, Founder & CEO, Doctor Anywhere.
Dr Amit Kakar, Senior Partner, Head of Novo Holdings Asia, stated: “Our investment in Doctor Anywhere reflects our commitment to fostering personalized and intuitive healthcare experiences that result in better health outcomes. We firmly support the company’s vision to deliver patient-centric care through innovative technology.”
Doctor Anywhere’s tech-driven approach has been a key differentiator, leading to innovations such as the industry’s first online supervised tele-antigen rapid testing (ART) service. Expanding on this foundation and driven by its mission to deliver personalized, borderless, and inclusive healthcare regionally, the company aims to introduce new service offerings, strengthen strategic partnerships, and explore acquisition opportunities – all geared toward comprehensively fulfilling and empowering individuals’ healthcare needs throughout their health journey.