HaloDoc raises US$65 million Series B

Online Indonesian healthcare network platform HaloDoc has raised US$65 million Series B funding led by Singapore’s UOB Venture Management.

Other participants included SingTel Innov8, Korea Investment Partners, and WuXi Apptec, along with existing investors.

“HaloDoc’s vision is to use technology to make quality healthcare more accessible for everyone and to optimise finite healthcare resources in a vast country such as Indonesia,” said Kian-Wee Seah, managing director and CEO, UOB Venture Management. “This investment in Halodoc is a reflection of our responsible investing approach to support economic and social development,” he added.

Funds will be used to build technology and infrastructure, as well as expand HalDoc’s partnerships with hospitals and other health service providers in Indonesia. The group said that its platform usage grew by 2,500% last year.

“There is a huge potential for us to use technology to extend the reach of conventional healthcare, providing better access for the archipelago’s large population,” said founder and chief executive officer Jonathan Sudharta.

In September 2016, it completed a US$13 million round of Series A funding led by Singapore-based private equity firm Clermont Group, along with Indonesian transportation and payments startup Go-Jek, e-commerce platform Blibli.com, and technology investor InvestIdea.

Founded in April of that year, users of HaloDoc can communicate directly with more than 20,000 licensed doctors in Indonesia. It also has partnerships with 1,300 pharmacies and offers a one-hour medicine delivery service.

According to international consultants Frost & Sullivan, the Indonesian healthcare industry is expected to reach US$21 billion by the end of this year.