With $37.5 M Series B Funding, Healthcare Startup Portea Plans Massive Hiring and Acquisitions
Tuesday, September 22, 2015
Entrepreneurs rarely announce funding on a Sunday. But today is an exception. Home focused healthcare platform Portea announced that it has raised $37.5 million Series B round led by existing investor – Accel and International Finance Corporation (IFC), a member of the World Bank Group; Qualcomm Ventures, and Ventureast.
Following the round, Arun Mathew of Accel Partners will join the company’s board.
Portea will use the capital towards expansion in India, massive hiring, sprucing up technology, and expand in Malaysia where it already provides services in four cities. Portea claims to process 600K consumer request since its Series A in December 2013.
Currently, Portea operates across 24 cities and handles 60,000 visits in a month to patients’ homes. Portea had previously received $8 million Series A funding from Accel and Ventureast in the last leg of 2013. Qualcomm Ventures made strategic investmentin the company in July 2014.
Expressing her view on the Series B funding, Meena Ganesh, MD & CEO of Portea, said, “This investment from marquee investors recognizes the rapid strides Portea has made in the last 18 months.”