India-based home healthcare startup Portea Medical has received $37.5 million in Series B funding led by Accel. International Finance Corporation (IFC), a member of the World Bank Group; Qualcomm Ventures and Ventureast also participated in this round. Portea works with leading hospitals, experienced doctors, nurses, diagnostic centers and others to provide in-home healthcare for patients in India & Malaysia.
The company will utilize the capital to scale the company’s expansion in India where it currently operates across 24 cities and handles 60,000 visits in a month to patients’ homes including market penetration in Malaysia where it already provides services in four cities. Portea currently has more than 3,000 staff with plans to recruit an additional 5,000 employees over the next 18 months across the region.
Portea focuses on general primary health care, post-hospitalization care, chronic disease management and allied services such as diagnostics and medical equipment on hire thereby bringing the entire gamut of healthcare services to a patient’s doorstep. The company works with hospitals, insurance companies and individuals to improve health outcomes by providing a continuity of care in the home setting through doctors, nurses, physiotherapists and nursing attendants employed by Portea. The company currently has 40+ hospitals as partners, and a network of referring physicians all over India.
Portea previously raised $9 million in Series A funding from Accel, Qualcomm Ventures and Ventureast back in December 2013.
