Indonesia: Alodokter closes $2.5m round led by Golden Gate Ventures

Visual of Alodokter homepage. August 2016.

Jakarta-based health information portal Alodokter has closed a $2.5 million Series A round led by Golden Gate Ventures. The Series A investment also saw participation from existing investors 500 Startups and entrepreneur Lim Dershing.

All three are returning investors had participated in its seed round in April 2015. The company has also brought on board Daniel Stan, former VP of Lazada Indonesia and head of its online marketing department, to lead its international expansion.

Founded by CEO Nathaniel Faibis in April 2014, Alodokter plans to use the proceeds from the investment to expand its business operations across Southeast Asia. Its current business model sees it generate revenue from premium advertising due to its work with health-related brands.

“We see a strong trend among patients in South-East Asian towards digital health. They are looking more and more for health information online before and after going to the doctor and also for prevention purposes. We firmly believe that providing reliable and easy-to-understand health information helps families take better decisions about their health,” Fabias said.

Alodokter released a mobile app in March 2016, to complement a news portal discussing healthcare and wellness matters. The mobile app allows users to connect with and discuss their medical issues with a general practitioner (GP), reportedly combining artificial intelligence (AI) with real-time doctor-patient interaction.

It claims that its news portal has grown from one million to eight million unique monthly visitors since closing its seed investment. Currently, Alodokter sees competition from local rivals like Dokter.id, Halodoc, MeetDoctor, KlikDokter, and 1Health.

In addition, Alodokter has a feature that sees reader-submitted questions to doctors being answered, offering a concise, comprehensive answer about basic health questions and how to proceed in terms of treatment or prevention with regard to mild symptoms.

When queried about the possibility of acquiring any of them, Faibis told DEALSTREETASIA in email communications: “Alodokter is currently the clear leader in the health information space in Indonesia. We are still growing fast internally and do not see external acquisition as a priority. Of course, we never say never. If a great opportunity comes to us, we will consider it.”

When asked about expanding into health insurance, given its established community and the emerging role of social connectivity in insurance, Faibis replied: “We have worked with several international insurance until now. We are really confident that our products can indeed bring a lot of value to top insurance players in Southeast Asia.”

Elaborating on their competitive edge, Faibis explained the focus on reliable health information being “in the DNA of the company” and a main focus contributing to its brand strength and credibility as a platform.

He explained to DEALSTREETASIA: “I strongly believe that the key of our success is our focus on medical expertise and reliability. it is clear for everyone in the team that providing high quality health information to patients is our main goal. This company culture focused on content quality is our competitive edge.”

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.

Singapore Reporter/s

In Singapore, we are looking to double our reporting team by this year-end to comprehensively cover the fast-moving world of funded startups and VC, PE & M&A deals. We want reporters who can tell our readers what is really happening in these sectors and why it matters to markets, companies and consumers. The ability to write precisely and urgently is crucial for these roles. Ideal candidates must have to ability to work in a collaborative, dynamic, and fast-changing environment. We want our new hires to be digitally savvy and ready to experiment with new forms of storytelling. Most importantly, we are looking for hard-hitting reporters who work well in a team. Collaboration and collegiality are a must.

Following vacancies can be applied for (only in Singapore).

Following vacancies can be applied for (only in Singapore).   

  • A reporter to track companies/startups that have raised private capital, and have the potential to become unicorns. SEA currently has over 40 companies with a valuation of over $100 million and under $1 billion.
  • A reporter who can get behind the scenes and reveal how funding rounds are put together, or why they’ve failed to materialise. She/he in this role will largely focus on long-format stories. 
  • A journalist to track special situations funds, distressed debt and private credit (from the PE angle) across Asia.