Healthcare Startup Practo Raises $30M in Series B Round Led by Matrix Partners

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Image Source: Practo

 

A web-based clinic management software developer company, Practo has raised $30 million in series B round led by Matrix partners with participation from existing investor Sequoia Capital. In 2012, the firm had secured $4.6 million in series A round from Sequoia Capital. The company now valued close to or over a $100 million.

As per a VCCircle report, the new funding will be used for expansion in India and abroad, and it is also planning to make a few strategic acquisitions and expand its team. The firm will expand to 35 cities in India and several more international locations in over next 12 months. It plans to extend to 6 countries internationally.

Started in 2008 by Shashank and Abhinav Lal, Practo offers services like helping patients find relevant doctors online, compare them and schedule appointments as well as sells PractoRay under software-as-a-service (SaaS) model for primary clinics, which enables doctors to schedule, manage patient records, billing etc.

As per the company every month more than 1 million users book 120,000 appointments via Practo Search and has grown more than 10 times in last 1 year.

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