Doctor Anywhere (DA), a tech-led healthcare company headquartered in Singapore, today announced a $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, providing 24/7 video consultations with primary care doctors, extensive specialist care and access to mental health support by appointment. Doctor Anywhere Philippines has forged strategic partnerships with top HMOs and insurance companies such as Maxicare, Generali, Etiqa, and COCOLIFE Healthcare, in advancing accessible and holistic healthcare for Filipinos.
The company has also extended its local health impact through key partnerships, such as with Lalamove, a leading same-day delivery service, to provide discounted health plans for its drivers, reinforcing the commitment to the well-being of essential service providers. Moreover, the DA app integrates essential healthcare features seamlessly through partnerships with Southstar Drug, enabling medication orders through the DA app for same-day delivery, and with Tamang Alaga (RiteMed) to offer discounted medications.
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.
Recent data from Doctor Anywhere Philippines suggests that younger Filipinos are increasingly open to digital healthcare platforms to ensure their health, with the majority of its users aged 23 to 35, with 70 percent being female. DA’s services also extend beyond Metro Manila, with most users located within the capital, including Quezon City, Manila, and Pasig. Outside Metro Manila, the majority of users are in the cities of Cebu, Bacoor, and Imus. This reach signifies a growing acceptance and utilization of telehealth services across various regions in the country.