Healthcare firm Halodoc raises about US$100m in Series B, B+ rounds

INDONESIAN healthcare startup Halodoc has announced additional fund raise in a Series B+ round from strategic investors, including Bill & Melinda Gates Foundation, Allianz X and Prudential. Allianz and Prudential are both customers of Halodoc's services.

Including the previous Series B and the current Series B+ rounds, the startup has raised almost US$100 million in total, it said in a press statement. In March this year, it closed a Series B funding round led by UOB Venture Management. Other backers of the firm include Singtel Innov8, Korea Investment Partners and WuXi AppTec.

Existing investors such as Go-Ventures, BliBli, Openspace Ventures and Investidea were participants as well.

Funds raised will be directed to furthering Halodoc's commitment to use technology to simplify healthcare in Indonesia.

In addition, the funding will aid in creating more awareness about the platform in other Indonesian cities, while also helping the firm in more rigorous product development.

Currently, the firm operates a mobile platform for patients to access doctors and pharmacy deliveries across 50 cities at any time of the day. It also provides home lab services and accessibility to easy, affordable and reliable healthcare services.

On average, Halodoc serves around seven million patients per month throughout Indonesia, with 80 per cent of patients residing outside the main cities of Jakarta and Surabaya.

Chief executive officer of Halodoc, Jonathan Sudharta, said: "As an online healthcare application with a mission to simplify healthcare, these strategic partnerships will help improve the quality and number of healthcare options available to Indonesians living outside major cities, particularly outside of Java where healthcare infrastructure is less established.

"Halodoc aims to learn from the Bill & Melinda Gates Foundation's long-established track record of working with partners to deliver best-practice healthcare solutions and improve quality of life around the world," he added.

Carsten Middendorf, investment director at Allianz X, said: "This investment highlights our commitment to transformative businesses in emerging markets and delivering affordable insurance to underserved communities. We look forward to working with Halodoc across multiple verticals and helping strengthen their operations and network in the wider South-east Asian market."