Malaysia-based healthcare benefits management platform HealthMetrics announced today that it has secured US$5 million (RM20 million) in Series A funding. The round was led by Japan-based investment group ACA Investments, which has healthcare as one of its focus investment areas.
The announcement indicated that HealthMetrics will use the funding to expand its regional footprint across Southeast Asia and introduce more healthcare models such as telemedicine, digital wellness, and preventive programs.
Alvin Yuan, Chief Executive Officer of HealthMetrics, said: "Our aim was and still is to introduce innovative digital processes to companies for higher efficiency and productivity. Bringing strong new investors and strategic partners into the HealthMetrics family allows us to continue innovating on our successfully proven approach on corporate healthcare.”
Commenting that the company's online platform makes the relationship between corporates, employees, and healthcare service providers more efficient, Tomohiro Fujita, Chief Investment Officer of ACA, said: "We also believe that HealthMetrics has a strong potential to widen the range of services as a B2B2C medical service platform and expand this footprint regionally. We will support the team to grow further using our network and other resources.”
HealthMetrics was the first Malaysian startup to join Google's Launchpad Accelerator program in 2017, and subsequently raised seed capital from a mix of Malaysian and Japanese investors. It had approximately 1,000 companies on its platform and 100,000 users as at the end of 2019.