Practo Technologies Private Ltd, Bengaluru-based first-choice doctor search engine offering online consultations and home deliveries of medicines that believes in improving human longevity by simplifying healthcare, eyes international markets by expanding in Indonesia, the Philippines and Singapore, and aiming expansion in Latin America with an initial foray into Brazil in March.
Practo – Key Takeaways
- Connects 60 million users, 200,000 doctors and 10,000 hospitals
- Enables booking of 40 million appointments each year
- Has attracted investments from prominent investors, such as Sequoia Capital, Google Capital, Tencent Holdings Ltd and billionaire Yuri Milner of Digital Sky Technologies (DST) Global, and more than $124 million in funds to date
- Valued at $500 million in its latest financing round
- Earns revenue by charging doctors and hospitals for its software services on a per-user or per-institution basis
- Sells advertisements on its portal where people search for doctors, clinics, diagnostics centres and fitness clubs
- Revenue is growing by four to five times annually
- Offers information on pricing and patient reviews to contain excessive lab testing, overprescription of medicines or long hospital stays
- Has no close competitor in India, but offers services in just 35 cities; plans to extend thenumber of citiesto 100 by year end
Practo aims to become the Amazon or Uber in global healthcare by connecting the fragmented markets through its technology platform.