Lybrate secures $10.2 million from Ratan Tata and other PE investors, as Series ‘A’ funding. This funding will be used for expansion in the product portfolio, recruit talent, augment technology and scale up the operations.
New Delhi-based company offers a mobile and PC based platform that connect patient and doctor seamlessly. The company is India’s first and largest healthcare communication and delivery platform that empowers patients to communicate anonymously with the doctors via a mobile app or online platform. Patients will get the right advice at the right time and allows doctors to touch more lives and help them with their extensive knowledge.
Saurabh Arora, CEO, Lybrate was perplexed when he witnessed people being diagnosed and treated by chemists in India. To shape his futuristic vision, he left his jobs in Facebook in the US and moved to India.
He says, “We ignore our health and rush to take a call at delayed stages when the disease has progressed to serious levels. The tendency to consult chemists because of time constraint and inertia to visit a doctor is rampant and lead to the risky behavior of self-medication. This is even more aggravated outside metros where accessibility of doctors is itself a challenge. Thus, by connecting doctors to the population and letting them communicate, we are trying to solve the fundamental problem and transform the way healthcare is being delivered in India,”
The option of remaining anonymous, Saurabh said, encourages people to talk about health issues, earlier considered taboo to discuss in public “We see a significant user engagement on the subjects related to sexual health, women’s health, psychological problems, especially depression, which makes it apparent that people want to have solutions and gain knowledge regarding these, but stay in shell out of embarrassment. Through the Lybrate app, we want every Indian to talk about every possible health issue and take informed decisions.”
Lybrate app was launched in January 2015 and the company has seen a massive growth with more than 80,000 doctors from various specialities is connected with its services across India. The app’s popularity is growing with more than half a million downloads in the last five months and 100,000+ patients visit the platform every day.
Lybrate runs a background check to verify medical licenses and credentials of each doctor before onboarding them on their platform. The users can seek multiple opinions from doctors for free on the open platform. However to start a one-on-one dialogue privately with the doctors, one has to pay fees. The user can exchange and share text, photo and voice during the interaction. However during interaction in an open forum, the physicians can also endorse answers from other doctors.
Lee Fixel, Partner, Tiger Global said, “Lybrate’s concept is groundbreaking. We believe it has the potential to revolutionize healthcare delivery in India and script the future of the healthcare industry with its model. The company is poised to gain ground rapidly as the penetration of Internet services and smartphones surge.”
Sandeep Singhal of Nexus Venture Partners said, “Bringing medical interactions online improves the efficiency of doctor-patient interactions. Personalized rich communication via the Lybrate app unburdens doctors and allows them to focus on critical patient care and allows consumers to have expert opinions from multiple doctors. Lybrate’s exponential growth has clearly demonstrated the market need and the power of their solution.”
Lybrate app has Health Feed in the form of tips shared by doctors concerning their speciality for any ideal user. Each health tip is categorized under one of the 400 topics and users can choose to receive health tips based on their interest. These work as a preventive aspect of medicine and ensure long life.