It’s a record-breaking feat for BookDoc, a Malaysian health-care technology start-up, by achieving the highest pre-seed and seed-funding valuations ever in the technology start-up history of Asia.
BookDoc concluded its seed round led by Prince Abdul Qawi, a member of the Brunei Royal Family.
The family made its first tech start-up investment in BookDoc.
BookDoc, founded in July 2015 and officially launched in October the same year, has been growing rapidly and is now the market leader in Malaysia.
Over a short span of three months, it has established strategic tie-ups with prominent specialized hospitals in Malaysia, namely Institut Jantung Negara (National Heart Institute), the largest private hospital in Malaysia in terms of revenue and bed size; Sime Darby Ramsay Healthcare, a joint venture between Sime Darby, the largest conglomerate in Malaysia, and Ramsay Health Care, the largest hospital group in Australia; and Tun Hussein Onn National Eye Hospital (National Eye Hospital).
It has successfully signed up corporate clients with a combined market capitalization of $15 billion. While the momentum in Malaysia continues to accelerate, BookDoc has started to venture into Singapore and Hong Kong.
Dato’ Chevy Beh, the founder, remarked that the BookDoc team has been inspired by the confidence that the investment community has placed in them. “The latest funding round is really a shot in the arm. The record valuation of the seed round is a resounding endorsement of the execution track record of the team and will spur us on to strive forward with more innovative partnerships while perfecting our solutions. Moreover, we have greater financial flexibility now to seek out long-term strategic investors which could complement our future business growth.”
In a bid to realize its vision to improve access to health care, BookDoc has recently tied up with ride-hailing start-up GrabTaxi in Malaysia to extend user convenience from virtual booking to physical transportation.
In addition, to further BookDoc’s commitment to the provision of services in an ethical manner, it has established an advisory group, which comprises respected health-care leaders initially from Malaysia, to advise BookDoc on strategic areas related to content, medical ethics, regulatory matters and issues of interest to the people it serves, namely, the public and medical communities.
The latest round of funding will go toward expanding its work force, funding the second phase of its technological development and strengthening the infrastructure to support regional growth. In addition to Singapore and Hong Kong, BookDoc is planning to roll out its services in Indonesia, Thailand and the Philippines over the next few months.
BookDoc is an online health-care platform that connects and unites patients and health-care professionals, bringing forth timely access, resource optimization and informed choices. The platform links up those in need with those who can assist, anytime and anywhere, in which precious time is optimized for all parties, and the benefits of early access to care are realized.
Founded in July 2015 by Dato’ Chevy Beh, former managing director of BP Healthcare Group, together with co-founder, Joel Neoh, founder of Groupon Malaysia and former CEO of Asia Pacific for Groupon, BookDoc is backed by a diverse group of investors from entrepreneurs to seasoned health-care and insurance professionals, bankers, regulators, as well as ICT professionals.