31 August 2023 | News
Existing Investors Quadria Capital, Lightrock, and Teamfund demonstrate confidence with reinvestment
Image credit: shutterstock
Bengaluru-based digital healthcare platform MediBuddy has secured additional funding of $18 million, reaffirming unwavering support from the existing investors Quadria Capital, Lightrock, and TEAMFund. This infusion of equity capital, amplifies MediBuddy's steadfast dedication to growth and expansion through strategic acquisitions.
In February 2022, MediBuddy raised $125 million during the Series C funding. The recent additional funding puts MediBuddy in a solid position to navigate the current landscape and achieve its ambitious growth targets over the next three years. A formidable portion of these funds shall be channelled into strategic acquisitions and fortifying its existing offerings, synergistically harmonising with MediBuddy's visionary trajectory and enabling exponential growth.
Satish Kannan, Co-Founder and CEO of MediBuddy, said, "MediBuddy's growth trajectory has consistently achieved a Compound Annual Growth Rate (CAGR) of 95.5% 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."
This growth has been fuelled by its presence in both Corporate and Retail domains. 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.