Indonesia’s Alodokter raises fresh funding from MDI, Samsung Ventures

Alodokter co-founder and director Suci Arumsari (left) & co-founder and CEO Nathanael Faibis

Alodokter, an Indonesian digital health platform backed by Softbank Ventures, announced that it has raised an undisclosed amount of funding from MDI Ventures and Samsung Ventures.

The startup did not say how much it raised in the latest funding but disclosed that it will use the fresh capital to develop new products for the Alodokter platform and expand and digitise the healthcare ecosystem.

Alodokter CEO and founder Nathanael Faibis said the key focus areas will include technology innovation, increasing the talent pool, and adding new features and functionalities. “The expansion we carried out is always focused on providing fast, accurate, and reliable consumer experience on the Alodokter platform,” Faibis added.

Alodokter provides an end-to-end digital solution to patients, including telemedicine, doctor booking, medical content, e-pharmacy, and health insurance services.

It claims to have more than 30 million monthly active users and more than 43,000 certified doctors on the platform.

The telemedicine app, created in 2014, last raised an undisclosed amount in November 2020 in a Series C+ round, led by MDI Ventures, and backed by existing investors Sequis, Golden Gate Ventures, Heritas Capital Management, and Hera Capita.

The said funding round followed a $33 million Series C round in 2019, which saw participation from SoftBank Ventures Asia and Golden Gate Ventures.

The latest investment in Alodokter comes as the global coronavirus pandemic has boosted the adoption of telemedicine services for both patients and healthcare providers, according to the startup’s president director and co-founder Suci Arumsari. “We believe that enabling better healthcare through technology has become more critical than ever,” she added.

Indonesia’s medical system has been going through massive changes over the last 10 years and is keener to embrace digital innovation than more mature markets, Alodokter’s CEO had said earlier.

Players such as Indonesia’s Halodoc, which provides teleconsultation and e-pharmacy services; Malaysia’s BookDoc, a booking and consultation app; and Singapore’s MyDoc, a B2B2C digital health app that provides teleconsultation for corporate clients, have seen user adoption soar in 2020.

Southeast Asia-based telemedicine startups inked 10 deals in 2020, relatively on par with fundraising transactions for the whole of 2019, according to DealStreetAsia’s SE Asia Telemedicine Landscape 2020 report. The total deal value, however, dropped significantly due to the absence of large deals.

Overall, telemedicine startups in the region have raised at least $246 million since 2015. Nearly 60% of the funding went to Indonesian startups, led by Halodoc, which raised nearly $100 million.

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.