Heaptalk, Jakarta — Indonesia-based telehealth startup Good Doctor has obtained new capital in a Series A funding round worth US$10 million (around Rp156 billion) from MDI Ventures and Grab as its existing investor. The company will allocate the fresh injection to amplify strategic partnerships in multiple sectors, covering insurance, corporations, and public institutions.
Chief Executive Officer of Good Doctor, Danu Wicaksana, delivered, “With this capital support, we are eager to make further endeavors in improving and expanding health services in the archipelago. Apart from performing curative initiatives, the company also plans to implement preventive and health promotion measures aligning with the priority of the Ministry of Health.”
Refers to the latest survey from McKinsey & Company, data reveals a significant change in healthcare behavior among Indonesian people in Q3 2022. Survey results show that more than 70% of people intend to continue utilizing telemedicine services even in the post-pandemic era. In line with existing trends in the company, Danu also observed that Good Doctor users still rely on telemedicine services even after the pandemic.
Founded in 2018, Good Doctor is a joint venture of Grab, SoftBank Vision Fund, and Ping An. In its business development, this telehealth startup has become an independent company, followed by the achievement of Series A funding. The company claimed the progress had empowered teams to make decisions more quickly and adjust to Indonesia’s healthcare landscape.
As is well known, this startup provided online health service via the GrabHealth application since 2019 and has expanded its service through its application. Previously, the Good Doctor service that integrates with the Grab ecosystem focused on the B2C service. Meanwhile, Good Doctor implements a B2B health service scheme in its independent application.
Good Doctor has partnered with 2,500 corporations and more than 55 insurance companies. On the other hand, the startup also has connections with more than 2,500 doctors and 4,000 dispensaries. In February 2023, this telehealth startup ceased business operations in Thailand and was determined to strengthen its business in the archipelago. For this reason, the team targets to reach profitability in the coming 18 months ahead.
“We recognized the fantastic progress of Good, with the resilience of its robust business model, specifically in the corporation segment. Their dedication to providing accessible, high-quality healthcare services utilizing technology has attracted our attention for significant growth potential.” Chief Executive Officer of MDI Ventures, Donald Wihardja, admitted.
