Pristyn Care – a health tech startup specializing in secondary care surgeries, said on Wednesday it had raised $ 96 million in Series E. With this funding, Pristyn Care’s valuation more than doubled over the years. over the past seven months and now sits at $ 1.4 billion, making it the latest digital health startup to become a unicorn. It is the 42nd such startup to become a unicorn in 2021.
This latest round of funding was led by renowned investors such as Sequoia Capital, Tiger Global, Winter Capital, Epiq Capital, Hummingbird Ventures and Trifecta Capital. Angel investors in this cycle include Kunal Shah (Founder and CEO, CRED), Deepinder Goyal (Co-Founder and CEO, Zomato), Abhiraj Singh Bhal (Co-Founder and CEO, Urban Company) and Varun Alagh (Co-Founder and CEO, Mamaearth).
Pristyn Care will use this new investment to improve its offerings by adopting the latest surgical technologies. It would expand into new disease categories, strengthen and modernize the infrastructure of partner hospitals, train its surgeons, and further develop its product and technology.
By March 2022, the company plans to increase its geographic footprint by expanding to more than 50 towns and cities and 1,000 surgical centers. Pristyn Care also intends to double the size of its team. With technology as the backbone of its operations, the company will hire highly skilled engineers, who will train a quarter of its new workforce.
“With our expansion plans firmly in place and on track, we will achieve our ambition of reaching 1,000 surgical centers and 5 million patient interactions by March 2022,” said Harsimarbir (Harsh) Singh , co-founder of Pristyn Care. “We will continue to invest in newer, world-class surgical technology to ensure faster patient recovery, shorter hospital stays and the smoothest surgical experience possible for patients and their families. “
In April of this year, Pristyn Care secured $ 53 million in a funding round led by US investment fund Tiger Global Management. The company said the deal brought the company’s valuation to more than $ 550 million, up from $ 250 million six months ago.
Singh, said the company has built a strong technological backbone that strengthens its patient-centric initiatives – such as end-to-end support services throughout the surgery process, billing transparency and treatment of claims. home insurance claims – and ensures patients are treated in the most comfortable way.
“We will invest in new surgical technologies to provide a world-class treatment and experience for our operated patients,” said Dr Vaibhav Kapoor, co-founder of Pristyn Care. “We plan to expand our surgical offerings to more cities and towns as well as for international patients seeking treatment in India. “
The firm said its 400 doctors have extensive experience of operating on the most complex cases. “From subways to small towns, we are committed to only hiring the best doctors in Pristyn Care,” said Kapoor.
Pristyn Care has grown 5X since January 2021 and expects to be profitable over the next 12-18 months. Today, it operates through more than 150 clinics and 700 partner hospitals with a panel of experienced doctors who work exclusively for the company. Its network currently covers seven metropolitan cities – Mumbai, Pune, Delhi, Bengaluru, Hyderabad, Chennai and Kolkata – and 33 Tier 2 and 3 cities.
Dr Garima Sawhney, co-founder of Pristyn Care, said quite a few small town patients have to travel, sometimes hundreds of miles, to get quality surgical care in nearby metropolitan towns. “We aim to fill this accessibility gap in the surgical space and deliver superior quality surgeries to patients in Tier 2 and 3 cities across the country,” Sawhney said. “Operating on a scalable and lightweight ecosystem, we are able to offer high-end surgical solutions close to patients’ homes, allowing them to benefit from care that is truly closer to their home.