DXY, a 20-year-old on-line healthcare group for Chinese language shoppers and healthcare organizations like Pfizer, introduced this week that it has raised $500 million in its Collection E spherical led by personal fairness agency Trustbridge Companions.
Present backer Tencent and Hillhouse Capital’s early-stage centered GL Ventures additionally participated within the spherical, which lifted the agency’s whole funding to over $680 million up to now. DXY’s earlier buyers embody Xiaomi founder Lei Jun’s Shunwei Capital, Legend Capital and DCM.
The corporate began out as a knowledge-sharing platform for docs and has over time added a consumer-facing facet by bringing wellness recommendation and medical session providers to the general public, that’s, steps that sufferers can take at dwelling earlier than having to go to the hospital.
Because the pandemic took maintain, hospitals and other people around the globe rushed to shift their actions on-line, spurring demand for healthcare apps. DXY responded swiftly and was among the many first in China to introduce a real-time COVID-19 tracker firstly of the outbreak.
In the present day, healthcare organizations may also use DXY as an promoting channel, a studying platform in addition to a recruiting web site, methods for the corporate to generate income.
Since its inception, the positioning has attracted some 130 million shoppers, greater than 9,000 medical establishments, and 50,000 docs who’ve supplied on-line session. The platform has a present person base of 20 million and counts Eli Lilly, Pfizer, and AstraZeneca amongst its main shoppers.
DXY plans to spend its new proceeds on buttressing the 2 pillars of its enterprise — assist for healthcare professionals and providers for shoppers. It is going to accomplish that by strengthening cooperation with hospitals, client items enterprises and pharmaceutical corporations, together with collectively funding R&D in merchandise or new client purposes.
On the patron entrance, the corporate faces some robust opponents in China together with the likes of SoftBank-backed Ping An Good Physician, Alibaba Well being, JD Well being, and WeDoctor, which can be backed by Tencent.
The article is up to date on December 29, 2020 with extra particulars on the funding.