Overview of the Funding Round
Speedoc, a leading health tech platform based in Singapore, has successfully raised $28 million in pre-Series B funding. This round was led by Bertelsmann Investments, Shinhan Venture Investment, and Mars Growth. Notable returning investors include Vertex Ventures Southeast Asia and India, who had previously invested $5 million in Speedoc’s Series A in 2020.
The Founding of Speedoc
Speedoc was established in 2017 by Dr. Shravan Verma and Serene Cai. The platform offers a range of telemedicine services, including consultations with on-site doctors and nurses, virtual hospital wards, and ambulance hailing across nine cities, including eight in Malaysia.
Services and Business Model
Speedoc’s core services include:
- Telemedicine consultations for minor medical conditions.
- On-site doctor and nurse visits, ensuring access to healthcare even when remote.
- Virtual hospital wards, providing 24/7 patient care with a team of nursing professionals.
- Ambulance hailing features, allowing patients to request emergency services directly through the app.
The platform is designed to bridge the gap in healthcare accessibility for underserved communities, particularly in Malaysia and other Southeast Asian nations.
Key Partnerships
Speedoc has partnered with major healthcare providers such as:
- National University Health System (NUHS) in Singapore.
- The Singapore General Hospital (SGH).
- Khoo Teck Puat Hospital.
Expansion Plans
As part of the Mobile Inpatient Care@Home initiative by the Ministry of Health Office for Healthcare Transformation, Speedoc plans to expand its virtual hospital program. This expansion will include:
- A 24/7 patient care team.
- Enhanced integration with existing healthcare networks.
- Advanced telemedicine capabilities.
Impact and Significance
Speedoc’s focus on home-based care has been particularly impactful in Southeast Asia, where access to immediate medical attention is often limited. By offering affordable and reliable telemedicine services, Speedoc aims to revolutionize healthcare delivery in the region.
Financial Backing and Growth Strategy
The pre-Series B funding round underscores Speedoc’s strategic importance and growth potential. The capital will be used to scale operations, enhance technology infrastructure, and expand its partnerships with leading healthcare institutions.
Conclusion
Speedoc’s continued success is a testament to its innovative approach to healthcare delivery. With this latest funding, the platform is poised to play a pivotal role in improving access to quality medical care for millions of people worldwide.
