BestDoctor, the Moscow-based healthtech platform that creates tech insurance aimed at individuals as well as businesses has announced securing $4.5 million in a venture round. The current financing has been led by country-based AddVenture and Germany-based Target Global. The round also saw support from the existing backer LVL1 Fund.
Prior to this round, BestDoctor had raised $3 million in the Series A round last year in May. The latest financing takes the total amount raised by the company to $8 million. Ascent Venture Partners, Sergey Vassilev and Internet Initiatives Development Fund (IIDF) are the other backers of the company.
BestDoctor was founded in 2015 by Mark Sanevich and Mikhail Belyandinov in an attempt to offer insurance to individuals and enterprises through various products. The firm since its inception has become Europe's 2nd insuretech platform with the highest number of users. BestDoctor caters to a few of the biggest companies like Voximplant, Faberlic, Ivideon, Prisma Labs, and Rambler Group apart from offering the services to individuals.
Apart from offering insurance services, the company also gives 24/7 health support and medical consultations through its mobile app. The firm has physicians who help the users get advice on preventive care and online support
Sanevich, the CEO of the firm talking about the firm during the COVID-10 pandemic says that “Our business received a strong boost. Now we are going to focus on establishing a comprehensive platform on the basis of medical insurance.”
Mikhail Lobanov, the managing partner at Target Global said, “BestDoctor is a rare example of a company that combines medicine and high-tech, while directly connecting employers with medical clinics. High-tech private medical insurance with the ability to consult a doctor 24/7 ensures transparency of all expenses.”
Commenting on the reasons of pumping capital in the firm, AddVenture managing partner Maxim Medvedev said, “By summer 2019, BestDoctor had a good head start: it had large enterprise clients, the company figured out the market’s problems and needs and dozens of product ideas were tested.”
Image courtesy: Mos.ru