Indonesia's leading healthcare superapp Alodokter has raised a USD 33M Series C led by Sequis Life and with participation from Philips, Heritas Capital, Hera Capital, Dayli Partners and others. Existing investors Softbank Ventures Asia and Golden Gate Ventures also participated in the round.
Alodokter is the leading health platform in Indonesia with over 20 million monthly active users on its platform, making it one of the most trusted healthtech services in the world. "Indonesia's medical system has been going through massive changes over the last 10 years and is keener to embrace digital innovation than more mature markets. Indonesia is becoming one of the first digitally native medical systems in the world. That's been one of the key factors for the hypergrowth we have been experiencing since our launch" says CEO Nathanael Faibis.
Patients today use Alodokter to chat with doctors, book appointments, discover personalized content and manage their health insurance. Alodokter is working with a trusted network of 20,000 doctors and 1,000 hospitals and clinics. "Finding the right medical information, the right doctor and the right financial solution can be overwhelming for families all over Indonesia. I am the typical user of Alodokter as a mother of two young kids, but limited medical knowledge. Alodokter changed my life when it comes to managing my family's health. We want to be the guardian angel of all Indonesian families" says Suci Arumsari, co-founder of Alodokter.
New health insurance grows rapidly as Alodokter harnesses ecosystem
Alodokter will use the funds to expand its hospital network integration and to further develop its cutting-edge health insurance service. In 2018, the company launched a health insurance called "Alodokter Protection". Policyholders can subscribe, pay and claim directly in the app. They can also access a suite of premium services, such as unlimited online consultations and premium access to hospitals. The company is building the "insurance of the 21st century", which not only provides financial protection but also guides patients in their medical journey towards the right medical solutions.
Indonesia's private health insurance market remains largely untapped with a penetration of less than 2%, 10 times lower than its neighbour Malaysia. Most Indonesian middle-class families are still at a high risk of bankruptcy because of unexpected medical bills. Insurance sales have skyrocketed 15x over the last 6 months as users discover Alodokter's simple and affordable insurance products.
"In addition to their user base, we are impressed by their strong medical DNA and their crystal clear vision of providing an end-to-end solution for patients. Alodokter is becoming a cornerstone of Indonesia's healthcare system and we are proud to be part of their journey.
Together we will be one step closer to achieving our goal to uncover new technologies and processes as well as Indonesia untapped market segments and customers," said Tatang Widjaja, President Director and CEO Sequis Life.