Healthcare services startup Portea raises $37.5 mn in Series B funding

Portea had previously received $9 million Series A funding from Accel, Qualcomm Ventures and Ventureast in December 2013

hidden September 21, 2015 07:50:59 IST
Healthcare services startup Portea raises $37.5 mn in Series B funding

Bengaluru - Home healthcare services provider Portea Medical has received $37.5 million in Series B funding led by Accel.

International Finance Corporation (IFC), a member of the World Bank Group, Qualcomm Ventures and Ventureast also participated in this round, Portea said in a release.

Healthcare services startup Portea raises 375 mn in Series B funding

Portea plans to recruit 5,000 more over the next 18 months

It said Portea would use the latest investment to push the company's expansion in India, where it currently operates across 24 cities and handles 60,000 visits in a month to patients' homes.

It will also utilise the funding to grow in other markets elsewhere in the region, including Malaysia, where it already provides services in four cities, it added.

Portea said it has more than 3,000 staffers and plans to recruit an additional 5,000 over the next 18 months in line with the company's growth plans.

Arun Mathew from Accel, the investment firm which led investment in other Indian startups like Flipkart, BookMyShow, FreshDesk and others, joins Portea's Board of Directors, it said.

Portea had previously received $9 million Series A funding from Accel, Qualcomm Ventures and Ventureast in December 2013.

PTI

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