Mobile Health Service Xingren Doctor Secures $32M USD In Series B Funding
Chinese mobile health app, Xingren Doctor, announced Wednesday that it has raised 200 million RMB (roughly $32 million USD) in series B financing led by FountainVest Partners, followed by current investors Sequoia Capital China and LightSpeed China Partners.
The investment will go primarily into product development and improving their overall business model, said Martin Shen, founder and CEO of the company.
Xingren Doctor is an mobile healthcare app targeted at doctors, helping them to better manage patients, workplace communications and industry updates. Available for both iOS and Android, doctors in China are using this app to communicate and track the status of their patients, contact other doctors on the network, or follow trends within their specialties.
WeChat integration allows Xingren to capitalize on messaging tools. Each doctor can get a Xingren account on WeChat after registration. Patients can follow the Xingren accounts of their doctors on WeChat and to ask clinical questions directly on the platform.
Launched in September 2014, the service now claims to have accumulated over 130,000 users, and a major reason for the significant series B investment is the team behind the service.
iHealth Management Consulting(Shanghai) Co., Ltd., the company behind Xingren Doctor, is also the developer of Kanchufang, a user-generated database that has collected more than 70,000 information points and medical case records. The company is now in the process of shutting down the Kanchufang service and shifting the full focus of its data pool to Xingren Doctor this year.
In 2014, Xingren Doctor received a 30 million RMB series A funding led by Sequoia Capital and followed by LightSpeed China Partners. Before that, the team secured a seven-digit USD angel round from LightSpeed China Partners in 2013 for the original Kanchufang service.
The Chinese healthcare system has long been lambasted by the public for its chaotic operations and disparity of healthcare resources between rural and urban areas. In recent years, mobile healthcare services have emerged as a convenient option for complementing the traditional healthcare system, with internet giants and startups flocking into the industry gap.
In 2014, Tencent poured $70 million USD into healthcare community DXY and $100 million USD in medical service Guahao. Alibaba is moving fast into the sector with its ambitious ‘Future Hospital’ plan, drug safety plan, a separate healthcare app. Leading startup companies like Chunyu have also raised impressive funding.
Image credit: Xingren Doctor, ShutterStock