Halodoc Secure Series B Funding Worth 919 Billion Rupiah, Led by UOB Venture Management

Health startups Halodoc today (04/3) announced the acquisition of series B funding worth $65 million or the equivalent of 919.5 billion Rupiah. Funding led by UOB Venture Management, with involvement by Singtel Innov8, Korea Investment Partners, WuXi AppTec, and several investor Halodoc previously.

The capital fund will be used to continue the development of healthcare technology and infrastructure Halodoc. In addition, it will also be used to expand strategic cooperation with various hospitals and health service providers throughout Indonesia.

Established since April 2016, Halodoc is an application and website-based digital health service platform that allows its users to communicate with more than 20 thousand licensed doctors in Indonesia. Users can also order laboratory checks at home and medicine order through a network of pharmacies with a delivery duration of less than 1 hour -- there are already more than 1300 partner pharmacies.

"In the past two years, we have experienced rapid development as a digital health platform in Indonesia. Until today, Halodoc has provided comfortable and reliable health services for 2 million users every month, of which half are outside Java. There is great potential for us to leverage technology to expand the reach of conventional health services, as well as provide better access to healthcare for Indonesia's large population," said Founder & CEO Halodoc Jonathan Sudharta.

In 2018 users Halodoc increased by more than 2.500%, reflecting the high demand for digital healthcare. Based on Frost and Sullivan data, the value of the healthcare industry in Indonesia is expected to reach $21 trillion in 2019, up from $7 trillion in 2014.

Halodoc recently named the "Most Innovative Start-up in Asia" in November 2018 by Galen Growth Asia, an organization that observes the health startup ecosystem in Asia Pacific.

UOB Venture Management Managing Director & CEO Kian-Wee Seah said, "Vision Halodoc is to use technology to expand access to quality health services and optimize the use of limited health resources in a vast country like Indonesia. Our investment in Halodoc it reflects a responsible investment approach to support economic and social progress."

Halodoc has worked with more than 1400 hospitals and healthcare providers in Indonesia. This collaboration allows users to cut waiting time at pharmacies and take advantage of the convenience of insurance services during visits to hospitals.

Apart from the hospital, Halodoc also builds strategic partnerships with its partners, such as Openspace Ventures, Clemont Group, Blibli.com, InvesIdea, and Gojek. With Gojek, they apply the system Halodoc for Go-Med service.