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- Cloudnine Hospitals
Cloudnine Hospitals Revenue, Valuation, Funding & Investors
Cloudnine Hospitals is valued at $321M as of February 2023, a 3.2x multiple on its last reported $101M revenue.
Last Cloudnine Hospitals valuation
$321M
Undisclosed stage · Feb 2023
Last Cloudnine Hospitals funding round
$44M
Undisclosed stage · Feb 2023
Cloudnine Hospitals revenue
$101M
Undisclosed stage · Feb 2023
Key investors in Cloudnine Hospitals
Peak XV Partners
Temasek
Z47
True North
NewQuest Capital Partners
About Cloudnine Hospitals
Cloudnine Hospitals is an India-based chain of specialty hospitals focused on maternity, gynecology, neonatology, and pediatrics care. Operating 20 facilities in Bengaluru, Chennai, Gurgaon, Mumbai, Pune, and Chandigarh since 2007, it delivers over 50,000 births annually with level 3 NICUs and fertility centers. The network adheres to NABH accreditation standards, providing services like high-risk pregnancy management and pediatric surgeries. Cloudnine expands to additional cities including Delhi and Hyderabad, serving urban middle-class families.
Founded
2007
HQ
Website
Status
Privately held
Customer focus
B2C
Revenue model
Services, Subscription
Revenue
$101M (Feb 2023)
Valuation
$321M (Feb 2023)
Cloudnine Hospitals Valuation
Cloudnine Hospitals is currently valued at $321M, based on its undisclosed-stage round in February 2023.
The $44M round included Temasek and NewQuest Capital Partners.
Cloudnine Hospitals valuation by funding round
| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Feb 2023 | Undisclosed stage | $321M | 3.2x |
Cloudnine Hospitals Revenue
Cloudnine Hospitals' latest recorded revenue is $101M, as of its undisclosed-stage round in February 2023. At a $321M valuation, that implies a 3.2x revenue multiple.
Cloudnine Hospitals revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Feb 2023 | $101M | $321M | 3.2x | Undisclosed stage |
* Revenue (or ARR) figures are the values recorded alongside each funding round. Typically run-rate revenue at the time of the deal, or a reported LTM (last 12 months) revenue.
Cloudnine Hospitals Funding History
Cloudnine Hospitals has raised a total of $146M across 4 funding rounds.
Cloudnine Hospitals' first fundraising round was a $26M Series A in June 2013. The most recent completed round was a $44M undisclosed-stage round in February 2023.
Cloudnine Hospitals funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Feb 2023 | Undisclosed stage | Temasek; NewQuest Capital Partners | $44M | $321M | Cloudnine Hospitals is a Bengaluru-based chain of super-specialty hospitals focused on maternity, gynecology, pediatrics, neonatology, fertility, and stem cell banking, founded in 2006 by Dr. R Kishore Kumar and co-founders. It operates 34 centers across cities like Bengaluru, Delhi, Mumbai, Chennai, Gurgaon, Ludhiana, and Chandigarh, with expansion plans in tier-I cities. In early 2023, Temasek Holdings through Sheares Healthcare was in advanced talks to invest approximately ₹500 crore for a 15-20% stake, valuing the company at ₹3,000 crore (about $362.7 million), while existing investor NewQuest Capital planned to add ₹200 crore to increase its stake. This primary investment round totaled around ₹700 crore, separate from later secondary transactions. The February 2023 round aligned with Cloudnine's capital realignment ahead of an IPO, after postponing a ₹1,200 crore IPO filing from 2022 due to market volatility. True North holds the largest stake at about 36%, with NewQuest and Sequoia (Peak XV) together at 35%, promoters at 10-15%, and the rest in ESOPs. Funds were earmarked for new hospitals in Bengaluru, Chennai, Delhi, and Chandigarh. A later primary round in the March 2024 quarter raised ₹359 crore from Temasek and TPG Newquest. Financially, Cloudnine reported consolidated revenue of ₹946.7 crore for the first nine months of FY24 (April-December 2023), up 26.3% year-over-year, with standalone revenue at ₹837.2 crore. Operating margins were 13.8% in 9M FY24, down slightly from 14.3% in FY23 due to losses from new centers, expected to moderate further in FY25. The company plans ₹280-300 crore capex in FY25 for expansion. Subsequent developments include Temasek acquiring Peak XV's 18-20% stake in a $600 million-valued deal in 2024, marking Peak XV's exit after their 2013 $16 million investment, as a pre-IPO move targeting a 2025 listing. |
| Dec 2015 | Series C | True North (lead) | $60M | - | Cloudnine Hospitals, operating under Kids Clinic India Pvt. Ltd., is a Bengaluru-based chain specializing in obstetrics, gynecology, fertility, neonatology, and pediatric care for women and children. Founded in 2007 by neonatologist R. Kishore Kumar and co-founders Rohit M.A., M. Ramachandra, and Vidya Kumar, it started with a single hospital in Bengaluru focused on newborn care and expanded to 10 hospitals across Bengaluru, Mumbai, Pune, Chennai, and Gurgaon by late 2015. The chain reported a 99.7% infant survival rate, significantly above Indian (47.1%) and global (50.6%) averages, with over 2,000 employees handling around 27,000 births by that time. In December 2015, True North (then India Value Fund Advisors or IVFA) invested Rs 400 crore (approximately $60-74 million) for a significant minority stake, marking Cloudnine's third funding round. This followed earlier investments: $9.95 million from Matrix Partners in 2011 and $16 million led by Sequoia Capital with Matrix in 2013. Matrix later made a partial exit during the True North deal, while Sequoia and True North retained stakes. Funds were earmarked for strategic opportunities, customer service enhancements, medical technology investments, and pan-India expansion. Post-2015, Cloudnine grew substantially, reaching 18 locations across six cities by around 2021 and 42 locations in 16 cities by FY24/25, delivering over 2,000 babies monthly (10-fold increase from initial capacity). True North emerged as the largest shareholder with about 36% stake by 2022, alongside Sequoia (now SCI Growth Investments) at 13.93% and others. Matrix fully exited in 2021 via Spark Capital. Revenue metrics appear later: ₹28 crore by FY2012 and over ₹1200 crore in FY24/25, with FY2021 healthcare services revenue at ₹444.52 crore, but no figures near the 2015 round. The company planned an IPO for ₹1200 crore in 2023 but postponed it. |
| Oct 2013 | Series B | Peak XV Partners (lead); Z47 | $16M | - | Cloudnine Hospitals raised $16 million in a funding round on approximately October 31, 2013, led by Peak XV Partners (then Sequoia Capital) with participation from Z47. The company operates a chain of super-specialty hospitals focused on mother and baby care, including fertility, maternity, gynecology, pediatrics, neonatology, baby care, and stem cell banking. Founded in 2006 by Dr. R. Kishore Kumar, Rohit M.A., M. Ramachandra, and Vidya Kumar, it has expanded to 34 centers across cities like Bengaluru, Delhi, Mumbai, Pune, Chennai, Gurgaon, Ludhiana, and Chandigarh. |
| Jun 2013 | Series A | - | $26M | - | Cloudnine Hospitals is a Bengaluru-based pediatric and maternal healthcare chain founded in 2006 by neonatologist Dr. R. Kishore Kumar and three co-founders. The hospital chain specializes in maternity care, gynecology, pediatrics, neonatology, fertility services, and stem cell banking, operating across multiple tier-1 cities including Gurgaon, Noida, Chandigarh, Panchkula, Chennai, Mumbai, and Pune. In 2013, Cloudnine raised Rs100 crore ($16 million) in its Series B funding round led by Sequoia Capital and Matrix Partners India. The company also received an earlier investment of Rs45 crore from Matrix Partners in 2011. Following the 2013 round, IVFA (later True North) invested approximately Rs400 crore ($60 million) in 2015 to acquire a significant minority stake. The hospital chain later planned an IPO in February 2022 to raise around Rs1,200 crore but postponed the offering due to market volatility. By 2023, True North held approximately 36% of Cloudnine, while NewQuest and Sequoia collectively held about 35%, with promoters retaining 10-15% and ESOPs comprising the remainder. |
Who has invested in Cloudnine Hospitals?
5 investors have backed Cloudnine Hospitals across its funding rounds, including Peak XV Partners, Temasek, Z47, True North and NewQuest Capital Partners.
Lead investors include True North and Peak XV Partners.
Cloudnine Hospitals Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
| 1 | Participant | Feb 2023 | ||
| 1 | Lead | Dec 2015 | ||
| 1 | Participant | Feb 2023 | ||
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Benchmark 350K+ Funding Rounds and Disclosed VC Valuation Multiples
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Start Free TrialCloudnine Hospitals Competitors
Cloudnine Hospitals competitors include listed companies like Nanjing Medlander Medical, Ascom, Simulations Plus and Echo IQ, and private ones like Activ Surgical and Elligo Health Research.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| Publicly listed | $64M | $20M | $418M | - | ||
| Private | - | - | $225M | - | ||
| Publicly listed | $356M | $39M | $223M | 0.5x | ||
| Publicly listed | $79M | ($62M) | $373M | 3.9x | ||
| Private | - | - | $392M | - | ||
| Publicly listed | $65K | ($13M) | $311M | 994.2x |
Cloudnine Hospitals Public Comps
Cloudnine Hospitals is still privately-owned, but its public comps include Mater Dei, Sanara MedTech, Abbott Pakistan, CapsoVision, Perspective Therapeutics, Echo IQ, MediClin, AdvancedAdvT, Coltene and TriSalus Life Sciences.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $423M | $91M | 1.5x | 1.4x | 6.9x | 6.3x | |||
| $103M | $10M | 3.4x | 3.1x | 34.4x | 19.6x | |||
| $271M | $54M | 1.1x | - | 5.4x | - | |||
| $14M | ($25M) | 22.7x | 21.3x | (12.3x) | - | |||
| - | ($109M) | - | 201.9x | (0.9x) | (0.8x) | |||
| $65K | ($13M) | 4656.6x | 994.2x | (23.1x) | (26.6x) | |||
| $903M | $133M | 0.6x | 0.6x | 4.1x | 4.2x | |||
| $72M | $13M | 2.5x | 2.4x | 14.1x | 8.9x | |||
This data is available for Pro users. Sign up to see all Cloudnine Hospitals competitors and their valuation data. Start Free Trial | ||||||||
Common questions about Cloudnine Hospitals
| When was Cloudnine Hospitals founded? | Cloudnine Hospitals was founded in 2007. |
| Where is Cloudnine Hospitals headquartered? | Cloudnine Hospitals is headquartered in Bangalore, India. |
| Is Cloudnine Hospitals publicly listed? | No, Cloudnine Hospitals is a private, VC-backed company. |
| What is Cloudnine Hospitals' valuation? | Cloudnine Hospitals was last valued at $321M in its undisclosed-stage round in February 2023. |
| How much funding has Cloudnine Hospitals raised? | Cloudnine Hospitals has raised $146M across 4 funding rounds. |
| What was Cloudnine Hospitals' last funding round? | Cloudnine Hospitals' last funding round was a $44M undisclosed-stage round in February 2023. |
| Who are Cloudnine Hospitals' investors? | Cloudnine Hospitals' investors include Temasek, True North, NewQuest Capital Partners, Z47 and Peak XV Partners. |
| What is Cloudnine Hospitals' revenue? | Cloudnine Hospitals' latest recorded revenue is $101M (February 2023). |
| What is Cloudnine Hospitals' revenue multiple? | Cloudnine Hospitals' latest valuation implies a 3.2x revenue multiple ($321M valuation on $101M of revenue). |
| Which companies are comparable to Cloudnine Hospitals? | Companies comparable to Cloudnine Hospitals include Nanjing Medlander Medical, Activ Surgical, Ascom, Simulations Plus, Elligo Health Research and Echo IQ. |
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