India's VC-backed Practo acquires US analytics start-up
Indian clinic management software developer and doctor search portal Practo, which is supported by several VC investors, has acquired US-based analytics firm Enlightiks.
The transaction will see Enlightiks and its India operations incorporated into Practo's existing business, with the entire team becoming an analytics unit within the parent company run by Enlightiks' current CEO, according to a blog post. Financial details of the deal were not disclosed, though media reports put its value at $13.9 million.
Enlightiks' main product, Querent, provides business intelligence and predictive analytics to help companies take proactive action to minimize costs and risks, manage inventory, and improve marketing. Practo plans to use Querent's capabilities in its clinic management platform to improve efficiency for its healthcare clients.
Practo seeks to bring digital disruption into several aspects of the healthcare landscape, targeting doctors with its clinic management software and patients with its online doctor search and appointment booking service, in addition to an online pharmacy portal. The company currently operates in India, Brazil, Indonesia, the Philippines and Singapore.
Practo has raised over $120 million since its founding in 2008, including a INR250 million ($4.6 million) Series A round in 2012 and Series B and C rounds last year of $30 million and $90 million, respectively. Sequoia Capital took part in all three rounds, while Matrix Partners participated in the latter two and China's Tencent Holdings led the Series C.
More on South Asia
Latest News
Asian GPs slow implementation of ESG policies - survey
Asia-based private equity firms are assigning more dedicated resources to environment, social, and governance (ESG) programmes, but policy changes have slowed in the past 12 months, in part due to concerns raised internally and by LPs, according to a...
Singapore fintech start-up LXA gets $10m seed round
New Enterprise Associates (NEA) has led a USD 10m seed round for Singapore’s LXA, a financial technology start-up launched by a former Asia senior executive at The Blackstone Group.
India's InCred announces $60m round, claims unicorn status
Indian non-bank lender InCred Financial Services said it has received INR 5bn (USD 60m) at a valuation of at least USD 1bn from unnamed investors including “a global private equity fund.”
Insight leads $50m round for Australia's Roller
Insight Partners has led a USD 50m round for Australia’s Roller, a venue management software provider specializing in family fun parks.