Indonesia-based healthcare superapp Alodokter announced that it has raised a $33M Series C funding led by Sequis Life and with participation from Philips, Heritas Capital, Hera Capital, Dayli Partners and others. Existing investors Softbank Ventures Asia and Golden Gate Ventures also participated in the round. The startup was founded in 2014 by Suci Arumsari (Co-founder & Director Alodokter) & Nathanael Faibis (Co-founder & CEO Alodokter).
Alodokter will use the funds to expand its hospital network integration and to further develop its health insurance service. In 2018, the company launched a health insurance called “Alodokter Protection”. Policyholders can subscribe, pay and claim directly in the app. They can also access a suite of premium services, such as unlimited online consultations and premium access to hospitals.
According to its press release, Aoldokter currently has about 20 million monthly active users on its platform and they use the app to chat with doctors, book appointments, discover personalised content and manage their health insurance. It works with a trusted network of 20,000 doctors and 1,000 hospitals and clinics.
THE LARGER TREND
Halodoc, a big player in the healthtech space in Indonesia, has raised close to a total of $100M after its latest funding round, MobiHealth News reported in late July. Halodoc operates a mobile platform for patients to access doctors any time of the day and pharmacy delivery across 50 cities, as well as home lab services, increasing accessibility to easy, affordable, and reliable healthcare services. On average, Halodoc serves around 7 million patients per month throughout Indonesia with 80% of patients residing outside the main cities of Jakarta and Surabaya.
Alodokter sees enormous opportunity in Indonesia’s largely untapped private health insurance market with a penetration of less than 2%, 10 times lower than its neighbour Malaysia – this explains its drive to develop its health insurance service in the country.
ON THE RECORD
“Indonesia's medical system has been going through massive changes over the last 10 years and is keener to embrace digital innovation than more mature markets. Indonesia is becoming one of the first digitally native medical systems in the world. That's been one of the key factors for the hyper growth we have been experiencing since our launch,” said CEO Nathanael Faibis in a statement.
Suci Arumsari, co-founder of Alodokter, said: “Finding the right medical information, the right doctor and the right financial solution can be overwhelming for families all over Indonesia. I am the typical user of Alodokter as a mother of two young kids, but limited medical knowledge. Alodokter changed my life when it comes to managing my family's health. We want to be the guardian angel of all Indonesian families.”