Tencent-Backed Private Healthcare Platform Raises $250 Million

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By Wang Luyao and Tang Ziyi / Apr 24, 2019 07:42 PM / Business & Tech

Photo: IC

Tencent-backed private health care platform Tencent Trusted Doctors has raised $250 million in its latest fundraising round to help fuel its rapid expansion.

The fundraising was led by Country Garden Holdings, Tencent Holdings and Sequoia Capital, according to a company statement obtained by Caixin Wednesday.

The investment brings the platform’s value above $1 billion, meaning it can now be considered a “unicorn,” Reuters reported, citing a source with knowledge of the matter.

Tencent Trusted Doctors, which calls itself China's leading private healthcare service platform, was formed in 2018 through a merger of Tencent’s medical unit Doctorwork and Shanghai-based healthcare startup Trusted Doctors. The platform said it offers online consulting services from nearly 50 offline medical institutions and 440,000 certified doctors.

The company said it aims have brought on board more than 500 medical institutions by 2021.

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