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Practo raises $90M from Tencent, Sofina, Sequoia & others

Doctor discovery platform Practo has raised $90 million in a Series C funding round led by Tencent and Sofina with existing investor Sequoia Capital, reportedly valuing the startup at $525 million. Google Capital, Altimeter Capital, Matrix Partners and DST Global founder Yuri Milner have also participated in this round. This round totals Practo’s funding at $125 million. The company will use the funding to expand product lines, look for potential acquisitions in healthcare segments to provide medicine, wellness and fitness information globally. It will also add to its team strength (current strength 1,500) and expand to over 100 Indian cities and 10 countries in Southeast Asia, Latin America, the Middle East and Eastern Europe. Practo claims to list over 200,000 healthcare practitioners on its service across 35 cities. It also claims to see over 10 million searches on its platform. Sequoia and Matrix funding The company had raised $30 million from existing investor Sequoia Capital, with participation from Matrix Partners in February this year. At the time, Practo had said the funds would be used to expand to 35 more cities in India over the next six months and for hiring. Genii acquisition, eying the enterprise segment Last month, Practo acquired Mumbai based product and development firm Genii for an undisclosed sum. The entire Genii team, including the founders, would be joining Practo in Bangalore. Practo planned to foray into the enterprise segment which would include hospitals and diagnostic centres. Practo claimed that it would expand the number of hospitals…

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I'm a MediaNama alumna from 2015-16 (remember TinyOwl?) now back to cover e-services like food and grocery delivery, app based transport and policies, platforms and media in India.

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