Digital healthcare platform MediBuddy on Wednesday said it has secured additional funding of $18 million from existing investors Quadria Capital, Lightrock and TEAMFund.
In February 2022, MediBuddy raised $125 million during the Series C funding.
The additional funding, said the company, will put it in a solid position to navigate the current landscape and achieve its ambitious growth targets over the next three years, driving strategic acquisitions and continued expansion.
“MediBuddy’s growth trajectory has consistently achieved a Compound Annual Growth Rate (CAGR) of 95.5 per cent 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,” said Satish Kannan, Co-Founder and CEO of MediBuddy.
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.
MediBuddy currently helps more than 35,000 users every day. It currently has an existing customer base of more than 3 crore and offers services in 16 Indian languages.
“As a participant in this funding round, we envisage MediBuddy to consolidate its market dominance and create significant value for its customers in the next chapter of its evolution,” said Sunil Thakur, Partner, Quadria Capital.