Practo Revenue, Valuation, Funding & Investors
Practo is valued at $310M as of August 2020, a 12.4x multiple on its last reported $25M revenue.
About Practo
Practo is a Bengaluru-headquartered online healthcare platform connecting patients with 1 million doctors across 100 Indian cities. It facilitates video consultations, diagnostic bookings at labs like Thyrocare, medicine delivery via Practo Pharmacy, and health record storage. Healthcare providers use Practo Ray for appointment scheduling and patient engagement analytics. Founded in 2008, the company partners with Manipal Hospitals and Apollo for enterprise solutions, extending to Southeast Asia.
Founded
2008
HQ
BangaloreWebsite
Status
Privately held
Customer focus
B2C & B2B
Revenue model
Commission, Services
Revenue
$25M (Aug 2020)
Valuation
$310M (Aug 2020)
Practo Valuation
Practo is currently valued at $310M, based on its Series D in August 2020.
The $32M round was led by AIA Group, with participation from Matrix Partners China, Tencent, CapitalG, Sequoia Capital, RTP Global and 1 other investor.
Practo's valuation has moved from $525M at its Series C in August 2015 to $310M in August 2020, across 3 priced rounds.
Practo valuation by funding round
Revenue multiple| Date | Stage | Valuation | Revenue Multiple |
|---|---|---|---|
| Aug 2020 | Series D | $310M | 12.4x |
| Jan 2017 | Series D | $625M | 25.0x |
| Aug 2015 | Series C | $525M | - |
Practo Revenue
Practo's latest recorded revenue is $25M, as of its Series D in August 2020. At a $310M valuation, that implies a 12.4x revenue multiple.
Revenue moved from $25M in January 2017 to $25M in August 2020, while the revenue multiple moved from 25.0x to 12.4x.
Practo revenue by funding round
| Date | Revenue * | Valuation | Revenue Multiple | Stage |
|---|---|---|---|---|
| Aug 2020 | $25M | $310M | 12.4x | Series D |
| Jan 2017 | $25M | $625M | 25.0x | Series D |
* 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.
Practo Funding History
Practo has raised a total of $207M across 4 funding rounds.
Practo's first fundraising round was a $30M Series B in February 2015. The most recent completed round was a $32M Series D in August 2020.
Practo funding rounds
| Date | Stage | Investors | Raised | Valuation | Deal Summary |
|---|---|---|---|---|---|
| Aug 2020 | Series D | AIA Group (lead); Matrix Partners China; Tencent; CapitalG; Sequoia Capital; RTP Global; Sofina | $32M | $310M | Practo operates a digital healthcare platform in India, enabling patients to book doctor appointments, access teleconsultations, medical records, and order medicines and diagnostic tests. It connects users to a network of 70,000 hospitals and clinics and over 100,000 doctors. The company partners with healthcare providers like Max Healthcare and Manipal to improve patient experience and operational efficiencies. In August 2020, Practo raised $32 million in an equity funding round led by AIA Group, which invested $20 million, with participation from Tencent ($5.3 million via SkyBlue Enjoy), CapitalG ($3 million, formerly Google Capital), Matrix Partners ($1 million), Sofina ($1.5 million), Sequoia Capital ($3 million), and RTP Global ($0.8 million). This round valued Practo at a post-money valuation of $310 million, a down round from its prior $620 million valuation in the 2017 Series D. Post-round ownership included Sequoia at 39.33%, Tencent at 11.48%, AIA at 7.23%, Matrix at 7.51%, Sofina at 7.1%, CapitalG at 3.16%, and RTP at 1.6%. The funding coincided with a strategic partnership between AIA and Practo, integrating Tata AIA Life Insurance (AIA's JV with Tata Sons) as the exclusive life insurance provider to Practo's 175 million unique users, while Tata AIA customers gain preferred access to Practo's platform. This aimed to combine insurance and healthcare services amid India's growing economy and low insurance penetration. Practo had previously raised $55 million in its January 2017 Series D led by Tencent, backed by CapitalG, Matrix, Sequoia, Sofina, and others, at a $620 million valuation. Prior to that, it reported strong growth with 90% patient increase, 80% more appointments, and 5 million+ health records shared. The 2020 round supported business expansion and technology enhancements amid Covid tailwinds for telehealth. |
| Jan 2017 | Series D | Tencent (lead); Altimeter Capital; RSI Fund; CapitalG; Z47; Thrive Capital; RTP Global; Sofina; Peak XV Partners | $55M | $625M | Practo, a Bengaluru-based digital healthcare platform founded in 2008, connects consumers with doctors, enables appointment booking, online consultations, medicine ordering, diagnostic tests, and health record management, while offering enterprise software for healthcare providers to digitize processes like scheduling, records, and billing. The company announced a $55 million Series D funding round on January 16-17, 2017, led by Tencent, with participation from new investors ru-Net (Russia), RSI Fund (Recruit Holdings, Japan), and Thrive Capital (New York), alongside existing backers Sequoia Capital, Matrix Partners, CapitalG (formerly Google Capital), Altimeter Capital, and Sofina. This brought Practo's total funding to around $179-180 million. Sources aware of the deal valued the company at $600-650 million post-round, up from $500 million in its prior $90 million Series C in 2015 also led by Tencent. The funds were earmarked to build an integrated healthcare platform unlocking value across the ecosystem, accelerate R&D in AI and machine learning for smarter products, deepen penetration in existing markets like India, Indonesia, Philippines, Singapore, Brazil, and the Middle East (including UAE), expand international operations, and enter health insurance. Practo claimed to manage 45 million appointments annually, aggregate 200,000 healthcare professionals, 10,000 hospitals, 8,000 diagnostic centers, and 4,000 wellness/fitness centers across multiple countries, with about 5 million patient records shared on its app in 2016. It employed around 1,500 professionals at the time. Tencent praised Practo's progress in scaling a rare full-stack healthcare solution globally, strengthening their partnership after this second lead investment. The round positioned Practo as India's most-funded homegrown healthcare startup, dominating the doctor discovery and booking segment amid over 211 competitors since 2014. |
| Aug 2015 | Series C | Tencent (lead); Altimeter Capital; CapitalG; Z47; Sofina; Peak XV Partners | $90M | $525M | Practo is a doctor discovery platform offering services to help patients find doctors, compare them, and schedule appointments online. It also provides PractoRay, a SaaS model clinic management software for primary clinics to manage patient records and scheduling. The company lists over 200,000 healthcare practitioners across 35 cities, over 8,000 hospitals (expanding to 20,000 by end-2015), and sees over 10 million searches on its platform. In July 2015, it added diagnostic centers search with details on accreditation, home pickup, pricing, and photos. In August 2015, Practo raised $90 million in its Series C funding round led by Tencent and Sofina, with participation from Sequoia Capital, Google Capital (now CapitalG), Altimeter Capital, Matrix Partners, and Yuri Milner, valuing the company at $525 million post-money. This brought total funding to $125 million at the time, following a $30 million Series B from Sequoia and Matrix earlier in 2015 and a $4.6 million Series A in 2012. Funds were allocated to expand product lines, pursue acquisitions in healthcare segments like medicine, wellness, and fitness, grow team size from 1,500, enter over 100 Indian cities, and expand to 10 countries in Southeast Asia, Latin America, the Middle East, and Eastern Europe. Practo recently acquired Mumbai-based Genii Technologies for product development capabilities to enter the enterprise segment, targeting hospitals and diagnostic centers. It competes with Lybrate, HelpingDoc, Praxify, and AllizHealth. The platform aims to build a single health app for better healthcare decisions globally, leveraging investor partnerships for international growth. |
| Feb 2015 | Series B | Peak XV Partners (lead); Z47 | $30M | - | Practo is a Bangalore-based healthcare technology platform offering doctor search, appointment booking, and SaaS clinic management software like PractoRay for scheduling, patient records, and billing. Founded in 2008 by Shashank ND and Abhinav Lal, it had previously raised a seed round in 2011 and $4M-$4.6M Series A in 2012 from Sequoia Capital (now Peak XV Partners). In February 2015, Practo raised $30M in a Series B round led by Sequoia Capital with participation from Matrix Partners (Z47), one of the largest Series B rounds for an Indian tech startup at the time. The funds were earmarked for aggressive expansion to 35 more cities in India within six months, entry into six international markets, strategic acquisitions, hiring, and scaling operations. At the time, Practo's paid software served around 29,000 doctors, with over 120,000 listed on the platform, and it recorded 4 million doctor searches in January 2015, up from 2.5 million in December. The round valued Practo as a market leader in India's online healthcare space, a category producing multi-billion dollar companies globally, per Sequoia MD Shailendra Singh. Post-Series B, Practo continued rapid growth, raising a $90M Series C in August 2015 led by Tencent with participation from Sofina, Sequoia India, Google Capital, Altimeter Capital, Matrix Partners, Sequoia Global Equities, and Yuri Milner. It acquired Fitho and Genii for preventive healthcare and enterprise segments, grew its team to 1,500 with plans to add 500 more, and expanded internationally to countries like the Philippines, Indonesia, Singapore, and Brazil. By 2017's $55M Series D, it approached 45 million annual appointments, with 200,000 practitioners, 10,000 hospitals, and 5,000 diagnostic centers across multiple markets. |
Who has invested in Practo?
12 investors have backed Practo across its funding rounds, including Peak XV Partners, Tencent, Z47, CapitalG, Sofina and RTP Global.
Lead investors include AIA Group, Tencent and Peak XV Partners.
Practo Investors
| Investor | HQ | Rounds | Role | First check |
|---|---|---|---|---|
 Shenzhen | 3 | Lead | Aug 2015 | |
 San Francisco, CA | 3 | Participant | Aug 2015 | |
| Mumbai | 3 | Participant | Feb 2015 | |
 Brussels | 3 | Participant | Aug 2015 | |
| Bangalore | 3 | Lead | Feb 2015 | |
| San Francisco, CA | 2 | Participant | Aug 2015 | |
 London | 2 | Participant | Jan 2017 | |
| Beijing | 1 | Participant | Aug 2020 | |
![](data:image/svg+xml,<svg xmlns="http://www.w3.org/2000/svg" width="20" height="20" viewBox="0 0 20 20"><rect fill="%23e5e7eb" width="20" height="20" rx="4"/></svg>){kind=small} RSI Fund | -- | 1 | Participant | Jan 2017 |
 Hong Kong | 1 | Lead | Aug 2020 | |
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Start Free TrialAcquisitions by Practo
Practo has acquired 5 companies to date.
Last acquisition by Practo was on December 16th 2016. Practo acquired Enlightiks for $14M.
Latest Acquisitions by Practo
| Description | Enlightiks is a Palo Alto-headquartered analytics firm delivering Querent, a no-code platform for healthcare providers in accountable care organizations and population health management. Hosted on AWS with on-premise options, Querent generates predictive models for chronic disease progression, revenue optimization, and pricing strategies using clinical datasets. The company maintains labs in Bangalore and offices in Houston and Charlotte. | Insta Health Solutions is a provider of hospital management systems and electronic medical records software targeting facilities in Asia, Africa, and the Middle East. Launched in 2008 from Bengaluru, India, its Insta HMS platform automates clinical workflows, billing, inventory, and patient scheduling. The cloud-based system integrates lab results, pharmacy management, and telemedicine features for over 1,000 hospitals across emerging markets. | Qikwell Technologies is a U.S.-based telehealth platform connecting patients with providers for virtual consultations. Used by thousands daily, Qikwell streamlines scheduling, messaging, and remote monitoring for chronic care management across primary specialties. | Genii Technologies is a software development firm delivering enterprise web platforms and mobile apps from Hyderabad, India. It builds custom solutions for e-commerce, CRM, and data analytics using technologies like React, Node.js, and AWS. The company serves clients in healthcare and finance with agile methodologies since its founding in 2008. | |
| HQ Country | |  | | | |
| HQ City | Bangalore | Dubai | Bangalore | Mumbai | |
| Deal Date | 16 Dec 2016 | 14 Sep 2015 | 2 Sep 2015 | 9 Jul 2015 | |
| Valuation | $14M | $12M | $40M | undisclosed | |
| EV/Revenue | |||||
| EV/EBITDA | |||||
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Practo Competitors
Practo competitors include listed companies like BlinkLab and JMDC, and private ones like Levels, Superpower, Healthie and Biopeak.
| Company | HQ | Status | Revenue | EBITDA | Valuation | Revenue Multiple |
|---|---|---|---|---|---|---|
| United States | Private | - | - | $300M | - | |
| Los Angeles, CA | Private | - | - | $300M | - | |
| New York City, NY | Private | - | - | $273M | - | |
| Bangalore | Private | $2M | - | $250M | 125.0x | |
 Australia | Publicly listed | $848K | ($5M) | $87M | 87.2x | |
 Japan | Publicly listed | $324M | $88M | $1.5B | 4.6x |
Practo Public Comps
Practo is still privately-owned, but its public comps include Echo IQ, Embecta, Universal Vision, Tristel, Prim, American Well, Stille, Cogstate, Evolent Health and TaiDoc Technology.
| Last FY | EV/Revenue | EV/EBITDA | ||||||
|---|---|---|---|---|---|---|---|---|
| Revenue | EBITDA | Last FY | LTM | 2027E | Last FY | LTM | 2027E | |
| $65K | ($13M) | 4656.6x | 994.2x | (23.1x) | (26.6x) | |||
| $1.1B | $284M | 1.4x | 1.5x | 5.5x | 4.9x | |||
| $132M | $58M | 2.8x | 2.7x | 6.4x | - | |||
| $62M | $15M | 3.9x | 3.5x | 16.2x | 12.6x | |||
| $290M | $38M | 0.8x | 0.8x | 6.1x | 5.6x | |||
| $249M | ($63M) | 0.2x | 0.2x | (0.8x) | (3.1x) | |||
| $58M | $12M | 3.5x | 2.9x | 17.4x | 14.2x | |||
| $58M | $18M | 6.3x | 5.7x | 20.0x | 18.9x | |||
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Common questions about Practo
| When was Practo founded? | Practo was founded in 2008. |
| Where is Practo headquartered? | Practo is headquartered in Bangalore, India. |
| Is Practo publicly listed? | No, Practo is a private, VC-backed company. |
| What is Practo's valuation? | Practo was last valued at $310M in its Series D in August 2020. |
| How much funding has Practo raised? | Practo has raised $207M across 4 funding rounds. |
| What was Practo's last funding round? | Practo's last funding round was a $32M Series D in August 2020, led by AIA Group. |
| Who are Practo's investors? | Practo's investors include Tencent, CapitalG, Z47, Sofina, Peak XV Partners, Altimeter Capital, RTP Global, Matrix Partners China, RSI Fund, AIA Group and 2 others. |
| What is Practo's revenue? | Practo's latest recorded revenue is $25M (August 2020). |
| What is Practo's revenue multiple? | Practo's latest valuation implies a 12.4x revenue multiple ($310M valuation on $25M of revenue). |
| Which companies are comparable to Practo? | Companies comparable to Practo include Levels, Superpower, Healthie, Biopeak, BlinkLab and JMDC. |
| How many companies has Practo acquired? | Practo has acquired 5 companies, including Enlightiks, Insta Health, Qikwell Technologies, Genii Technologies and Fitho. |
| What was the largest acquisition by Practo? | The $40M acquisition of Qikwell Technologies in September 2015 is the largest acquisition Practo has made to date. |
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