Practo - Comprehensive Analysis Report

Summary

Practo, established in 2008 and headquartered in Bengaluru, India, is a healthcare technology company dedicated to simplifying healthcare experiences for both patients and providers. The company's mission is to ensure accessible and affordable healthcare for over a billion Indians. With a vision of fostering healthier and longer lives, Practo strategically connects patients, doctors, and various healthcare services through its digital platform.

1. Strategic Focus & Objectives

Core Objectives

Connect the healthcare ecosystem, linking patients, doctors, clinics, hospitals, pharmacies, and diagnostics.

Provide a digital platform for patients to find doctors, book appointments, consult online, and access medical records.

Offer practice management software (Practo Ray) to healthcare providers for managing appointments, billing, and patient records.

Expand telemedicine services and integrate AI for better diagnostic support and personalized healthcare.

Specialization Areas

Digital healthcare platform connecting patients and healthcare providers.

Online appointment booking and telemedicine services.

Practice management software for healthcare providers.

Integration of AI for enhanced diagnostic support and personalized healthcare.

Target Markets

Patients seeking accessible and convenient healthcare solutions.

Healthcare providers looking to streamline operations and expand their reach.

Healthcare ecosystem including clinics, hospitals, pharmacies, and diagnostics.

2. Financial Overview

Funding History

Practo has raised a total of $228 million across 9 funding rounds.

July 2012: $4 million (Series A) led by Peak XV Partners.

February 2015: $30 million (Series B) led by Peak XV Partners.

August 2015: $90 million (Series C) led by Tencent.

January 2017: $55 million (Series D) led by Tencent.

August 2020: $32 million (Series D) led by AIA Group.

April 26, 2022: $1.68 million (Series D) led by AIA Group and Z47.

Practo's valuation as of April 26, 2022, was $418 million. The annual revenue of Practo was 33.1 million SGD as of March 31, 2023.

3. Product Pipeline

_(There is no information about current pipeline development.)_

4. Technology & Innovation

Technology Stack

Online Appointment Booking: Enables patients to find doctors, view profiles, and book appointments.

Online Consultation: Telemedicine services for remote consultations with doctors.

Digital Health Records: Secure access and storage of medical records for patients.

Practo Ray: Practice management software for managing appointments, billing, and patient records.

Medicine Delivery: Facilitates online medicine ordering and delivery via verified pharmacies.

Practo utilizes 8 technology products and services, including AdRoll, Grafana, and PostHog. The company uses AI for search optimization, connecting patients with relevant doctors.

5. Leadership & Management

Executive Team

Shashank ND: Co-Founder and CEO

Abhinav Lal: Co-Founder and CTO

Siddhartha Nihalani: Co-founder

Satish Arunachalam: Chief Financial Officer

Jagnoor Singh: Chief Operating Officer

Shoumyan Biswas: Global Chief Strategy & Marketing Officer

Pulkit Gupta: Chief of Staff & Head Operations

Sarang Sharma: Head - Product

Pranay G N: Head - Human Resources

6. Competitive Analysis

Major Competitors

MediBuddy

Hinge Health

ekincare

Lybrate

Apollo Pharmacy

Pharmeasy

Netmeds

ZocDoc

SameSky Health

Scopio Labs

Curve Health

7. Market Analysis

Market Overview

The healthcare technology market is experiencing significant growth due to the increasing demand for digital healthcare services. India's healthcare market presents a $100 billion opportunity, driven by increasing mobile internet penetration and technology disruption.

8. Strategic Partnerships

Tata AIA Life Insurance Company

A strategic partnership provides Tata AIA Life customers preferred access to Practo's digital healthcare platform. The partnership also makes Tata AIA Life the exclusive service provider of life insurance solutions to Practo's users.

9. Operational Insights

Practo focuses on providing a user-friendly platform for patients to find doctors, book appointments, and access online consultations. The company aims to deliver affordable and accessible healthcare to over a billion Indians by connecting the healthcare ecosystem and leveraging technology. Practo also offers practice management software (Practo Ray) to help healthcare providers manage their operations efficiently.

10. Future Outlook

Strategic Roadmap

Practo is focusing on expanding its telemedicine services and integrating AI to provide better diagnostic support and personalized healthcare. The company plans to invest in artificial intelligence and machine learning algorithms to provide more personalized and efficient services and aims to leverage AI and expand into underserved markets for future growth.