MediBuddy Secures $18 Million Funding to Drive Strategic Acquisitions and Continued Expansion
Existing Investors Quadria Capital, Lightrock, and Teamfund demonstrates confidence with reinvestment
MediBuddy, India's largest digital healthcare platform, secures additional funding of $18 million, reaffirming unwavering support from the existing investors Quadria Capital, Lightrock, and TEAMFund. This infusion of equity capital, amplifies MediBuddy's steadfast dedication to growth and expansion through strategic acquisitions.
In February 2022, MediBuddy raised an impressive $125 million during the Series C funding. The recent additional funding puts MediBuddy in a solid position to navigate the current landscape and achieve its ambitious growth targets over the next three years. A formidable portion of these funds shall be meticulously channelled into strategic acquisitions and fortifying its existing offerings, synergistically harmonising with MediBuddy's visionary trajectory and enabling exponential growth.
Mr. Satish Kannan, Co-Founder and CEO of MediBuddy, said, "Our continued partnership with all our investors has been instrumental in MediBuddy's growth and is helping us solve India's healthcare needs. MediBuddy's growth trajectory has consistently achieved a Compound Annual Growth Rate (CAGR) of 95.5% over the past three years. The additional funds will be critical in driving our strategic acquisition initiatives, further expanding our reach, and enhancing the depth and breadth of our services. At MediBuddy, our constant endeavour has been to make high quality healthcare accessible to a billion people. This move further solidifies our stance as a market leader in the digital healthcare landscape."
This growth has been fuelled by its presence in both Corporate and Retail domains. Two of MediBuddy’s recent strategic acquisitions, such as Clinix, an online medical consultation platform focusing on rural India, and US-based Aetna Inc’s vHealth by Aetna business (Indian Health Organization Pvt Ltd), have further amplified its presence in the healthcare domain.
As MediBuddy continues to stride confidently towards sustained profitability, this recent funding reinforces its status as a frontrunner in the health-tech industry. MediBuddy helps 35,000+ users every day, and critical factors such as easy access to a specialist doctor in 10 minutes, 24/7, 365 days a year, increased convenience, prompt delivery of services, and widespread awareness have sparked a visible growth in online doctor consultations for the platform. MediBuddy currently has an existing customer base of 3 Cr+ Indians. The company's ability to secure substantial funding and maintain a balanced growth trajectory is a testament to its vision and operational excellence.
MediBuddy has always been at the forefront of India’s digital healthcare transformation. The digital healthcare platform has a partner network of 90,000+ doctors across 22+ specialities, 7,100+ hospitals and clinics, 4,000+ diagnostic centres, 2,500+ pharmacies along with a team size of 2200+ members. It has created an integrated healthcare ecosystem that offers patients seamless access anytime and anywhere in 10 minutes. With its healthcare services available in 16 Indian languages to enable customer-friendly consultation, MediBuddy is bridging the Urban-Rural quality healthcare divide. MediBuddy offers online and offline doctor consultations, medicine delivery, lab tests at home, mental health consultations, surgery care, among other healthcare services.
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