HealthPlix Raises $13.5 Mn In Series B Round Led By Lightspeed Venture Partners The platform plans to grow fivefold by expanding the doctor base in existing geographies, adding new towns and medicine specialties, and bolstering its team and product
By Prabhjeet Bhatla •
Opinions expressed by Entrepreneur contributors are their own.
You're reading Entrepreneur India, an international franchise of Entrepreneur Media.
Bengaluru-based healthtech startup HealthPlix, on Wednesday, announced to have raised $13.5 million as part of ongoing Series B funding led by Lightspeed Venture Partners, with participation from existing investors JSW Ventures, Kalaari, and Chiratae.
The go-to-platform for doctors, Healthplix plans to grow fivefold by expanding the doctor base in existing geographies, adding new towns and medical specialties, and bolstering its team and product.
"Doctors are at the core of healthcare delivery, and at the core of a doctor's day is his interaction with the patient. These few minutes matter most. It is in this precious interaction that health decisions get made, diagnostic tests get prescribed, pharmaceutical brands get chosen, surgical procedures get planned, and hospital referrals get made. This interaction is the moment of truth, where $88 billion of annual healthcare spend is decided. And in this moment of truth, the ONLY solution that doctors turn to for assistance is HealthPlix," said Sandeep Gudibanda, serial entrepreneur and co-founder and chief executive officer, HealthPlix.
Today, there are strong tailwinds in healthcare: COVID-19 has taken patients online and to WhatsApp; the Indian government has legalized teleconsultations, and the National Health Stack and Ayushman Bharat are laying down UPI-like infrastructure for hospitals and insurance to go digital. However, despite these tailwinds, startup innovation to date has been limited to areas such as appointment management, drug delivery, and so on - primarily focused on patients or health administrators. What these innovations have missed is the core of healthcare delivery itself - the doctors, the company shared.
"We are doubling down our efforts to help doctors provide in-person or remote consultation to their patients using the same digital platform seamlessly. Doctors using HealthPlix save time and get a unified view of their patient's disease journey which aids their treatment decisions. These benefits have made HealthPlix the trusted choice among doctors," mentioned Raghuraj Sunder Raju, co-founder, HealthPlix.
HealthPlix has been said to be the backbone for doctor-patient interactions, akin to Salesforce for CRM, Workday for human capital management, or Marketo for marketing. HealthPlix makes it easier for doctors to speed-up their practices, maintain patient records, offer remote consults and improve patient outcomes, the company claimed.
"What sets HealthPlix apart is its doctor-first B2B approach. Doctors are the most influential decision-makers in healthcare. We believe whichever platform wins their trust will have the sole right to orchestrate the entire $88 billion of healthcare spending. The impact is very clear -- improved health outcomes for patients, better practices for doctors, tenfold better Insights for pharma and med device companies, and superior underwriting capability for insurers," added Vaibhav Agrawal, partner, Lightspeed Venture Partners.
HealthPlix today serves more than 12 million unique patients - including 10 per cent of all diabetic and cardiac patients in India - supporting over 60,000 consultations daily across 15 specialties. Over $1.1 billion of prescription and diagnostic spending originates on HealthPlix annually. Growing at 10 per cent MoM, the company has become the core platform that allows doctors to interact with patients, hospitals, diagnostic laboratories, pharmaceutical/equipment manufacturers, and insurers seamlessly.
