Indonesia's Alodokter gets $33m Series C
Indonesian insurer Sequis Life has led a $33 million Series C round of funding for Alodokter, a local super app operator that connects patients with doctors and healthcare information.
Other participants in the round include Philips, Heritas Capital, Hera Capital, and Dayli Partners. SoftBank Ventures Asia and Golden Gate Ventures – which both featured in Alodokter's $9 million Series B in 2017 alongside FengHe Fund Management – re-upped. Golden Gate also provided the company's $2.5 million Series A round in 2016.
Founded in 2014 by Suci Arumsari and Nathanael Faibis (pictured), Alodokter offers an end-to-end digital solution covering telemedicine, appointment booking, medical information, and health insurance services. It works with a network of 20,000 doctors and 1,000 hospitals and clinics, serving 20 million monthly active users.
The company will use the new capital to enlarge and upgrade its hospital network and to develop its health insurance business. A health insurance product – that enables policyholders to subscribe, make payments and submit claims within the app – was launched last year. Private health insurance penetration in Indonesia is less than 2%, less than 10 times the level of Malaysia, according to a statement.
"In addition to their user base, we are impressed by their strong medical DNA and their crystal-clear vision of providing an end-to-end solution for patients," said Tatang Widjaja, CEO of Sequis Life. "Together we will be one step closer to achieving our goal to uncover new technologies and processes as well as Indonesia's untapped market segments and customers."
Alodokter's Series A comes three months after Halodoc – which offers a similar suite of services – closed an extended Series B round backed by The Bill & Melinda Gates Foundation, Allianz Group and Prudential. The company has now raised nearly $100 million. Allianz and Prudential use Halodoc's services as part of their insurance coverage of Indonesia.
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