Singapore based digital health platform Doctor Anywhere (DA) on September 1 announced that it has raised its Series C financing round, led by growth equity investor Asia Partners.

The round also attracted other investors including Novo Holdings, Philips and OSK-SBI Venture Partners. At SG$88 million (US$65.7 million), it is one of the largest private funding rounds ever raised by a health-tech company in Southeast Asia.

Existing investors also participated in the round, including Singapore-based global investor EDBI, Square Peg, IHH Healthcare, Kamet Capital and Pavilion Capital. This round brings the total capital raised by Doctor Anywhere since founding to more than $140 million SGD.

As a result of the financing, Oliver Rippel, Co-Founder and Partner of Asia Partners, and Dr Amit Kakar, Senior Partner, Head of Novo Holdings Equity Asia will join the DA Board of Directors.

Since its launch in 2017, DA has grown exponentially to serve more than 1.5 million users across Southeast Asia. Over the past 18 months, the COVID-19 pandemic has also served as a catalyst to fast-track the adoption of telehealth services in the region, an innovation which enabled the healthcare industry to continue providing high-quality, affordable care to families through the crisis.

“DA’s mission is to be the largest tech-enabled multi-channel healthcare provider in Southeast Asia, and applying innovative technology to improving patient outcomes is core to our differentiated offerings. We are thrilled to attract the interest of a strong group of investors in this round, a significant milestone which is a testament to our vision and track record,” said Lim Wai Mun, founder and CEO of Doctor Anywhere.

“We will use this funding to further enhance our digital capabilities, and scale up on our ability to deliver quality healthcare seamlessly to our users in Southeast Asia.”

DA has built a strong ecosystem of payers, providers, and patients across its core markets. It has close to 2,800 doctors and medical professionals within its network in the region, and it also works closely with major hospitals and healthcare institutions.

This latest investment will significantly bolster DA’s market leadership and put the group in a leading position to further deepen its presence in its existing markets. It will also allow the group to expand into new markets, to drive its mission of transforming the regional healthcare landscape through technology.

“This funding round is a strong foundation for us to enhance our investment in human resources, thus continue to improve and develop the Doctor Anywhere e-ecosystem. We will constantly improve service quality to ensure the best customer experience, aiming to become the leading multi-channel tech-led medical company in Viet Nam and Southeast Asia,” said Le Ngoc Hai, CEO of Doctor Anywhere Vietnam.

Doctor Anywhere is currently available in Singapore, Malaysia, Thailand, Vietnam, and the Philippines. The group also recently announced the establishment of regional tech hubs in Bangalore, India and HCM City, Vietnam. — VNS