Practo is now considered one of the top 9 start-up’s making difference in India. Who would have imgined that booking an appoitment with a doctor would be just a click away. Practo has made this possible. Shashank ND, founded Practo in 2008 which is online practice management software that can be accessed by doctors or clinics to achieve organized records of practice.

knowstartup_practo

Shailendra Singh from Sequoia is proud of this accomplishment. Practo was backed by Sequoia Capital for 46 months. After Sequoia’s first investment of under $500,000 in March 2011, Practo took four years to rope in another VC firm.

Singh, Bangalore-based managing director of Sequoia Capital, tweeted

3/10. For the next 46 months (until Feb15), Sequoia was the only VC in practo’s cap table, leading 3 rounds. Those ~4 years were not easy

— Shailendra J Singh (@singh_sequoia) August 7, 2015

Singh says that the focus and dedication of the Practo team, headed by co-founder and CEO Shashank ND, were important factors in Sequoia’s commitment to the company.

7/10. Practo evolved and built moat through products & onboarding doctors. One practice at a time. Driving adoption. No short cuts.

— Shailendra J Singh (@singh_sequoia) August 7, 2015

A few months ago, Matrix Partners came on board Practo as part of a $30 million co-investment commitment along with Sequoia.

Few weeks back, Practo acquired product outsourcing firm Genii Technologies Pvt Ltd for its capabilities in building bespoke e-commerce portals and Software-as-a-Service (SaaS) platforms.

Last week, Practo announced that it secured $90 million in Series C funding from Chinese media and technology conglomerate Tencent Holdings Pvt Ltd.

Shashank said the company neither hired an investment banker nor did it conduct a roadshow to get these top investors on board.

The funding will be used towards –

  • Expansion in other geographies
  • Hiring
  • Building product capabilities

About Author

Biplab Ghosh

Biplab lives his life around technology and is particularly keen to explore the intersection of technology and human behaviour. Always looking for new ideas, and ways that can make things simpler. He is a geek with the flair for travel and has great passion for music and theatres.

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