BestDoctor closed a $26m round led by Winter Capital, a Moscow-based international VC fund backed by billionaire Vladimir Potanin.
Other investors included Swedish investor VNV Global and UNIQA Ventures, the corporate VC backed by UNIQA Insurance group. The company claims this round gives it a $90m valuation.
The funding comes after BestDoctor’s series A round last year when the Russian InsurTech startup raised $4.5m.
BestDoctor’s Virtual Clinic platform offers round-the-clock telemedicine services as well as preventive medicine, and other services. While the product is currently offered as an enterprise platform for private companies, it now plans to enter the consumer market in 2021.
BestDoctor co-founder and CEO Mark Sanevich said, “We are pursuing a new goal and building a platform with the best medical services that can be entrusted with any health-related issues. The platform will consolidate all of BestDoctor’s products to become an example of a client and product-oriented approach to medicine. A new type of healthcare service focused on the patient and their needs, is urgently needed – not just in Russia, but globally.”
The company claimed it has the second-highest number of users among Europe’s medical InsurTech firms. Its client list numbers over 100 companies, including Hoff, Mail.ru Group, Megafon, Ozon and others. Altogether, the company provides assistance to more than 100,000 users and partners with over 14,000 clinics around the country.
Sanevich said the startup plans to enter the European digital-health market, which is currently growing by 28% year on year.
Winter Capital MD Anton Farlenkov added, “The medical insurance industry is undergoing a digital transformation, as many services move online, creating greater accessibility and improving usability for consumers. BestDoctor is at the forefront of this revolution, accelerating the medical insurance field’s transition to a qualitatively new level.”
Echoing a similar sentiment, VNV Global investment manager Björn von Sivers said, “The company has built a great product and onboarded an impressive set of corporate clients in a short time. We believe BestDoctor is in a great position to continue to lead the Russian market with its innovative offering and also see strong potential for future geographical expansion.”
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