Reliance Health raised $40 million in Series B financing. CEO Ken Oka was one of the participants in the deal. Read on to find out more about the deal.
Reliance Health raises $40M Series B
Reliance Health is an emerging markets-focused digital healthcare company. Founded in 2015 by Femi Kuti, the company’s focus is to help people access quality health care through a combination of proprietary and partner healthcare facilities. It also offers telemedicine and a business-to-business platform.
A recent round of funding from a new investor, General Atlantic, will support Reliance’s continued growth in Nigeria and into other markets around the world. The new investment is the company’s largest round to date.
Reliance has been growing rapidly over the past year. In the past five months alone, the company has completed six executive hires. This includes a country manager for Egypt. And Reliance plans to enter two or three more countries by the end of the year.
With its growing number of customers and partners, Reliance will be able to add new products and services to its existing technology. The company plans to hire more high-performing employees to continue its rapid expansion worldnewsite .
Earlier this year, the company secured US$6 million in a Series A fundraising round. Now, the company has received $40 million in a Series B round led by General Atlantic. Other investors include Partech, P1 Ventures, and Tencent Exploration.
With these funds, the company will be able to build out its network of healthcare facilities and bring its telemedicine and technology-based solutions to more underserved markets. Currently, Reliance is operating out of offices in Texas and Lagos.
Key takeaways from the deal
The HLTH olshow in Las Vegas last month was a hoot, but the digital health ecosystem is still in a holding pattern, with an eye on the future. While the conference was not without its drawbacks, it did manage to snag a few gimmicks along the way. To make the experience more memorable, a small handful of techies were given the green light to mingle with the movers and shakers of their industries news247 com. With the influx of fresh blood, the industry is set for explosive growth. In the months to come, there’s sure to be a wave of exciting VCs and angels that want to get their names on the marquee. Not to mention, the ensuing IPO season is prime time. One of the few bright stars is Amazon, which has taken a page from Walmart’s book around whole person health. This is not to mention its recent launch of the Amazon Clinic and Amazon Health (formerly Aetna’s) new consumer health division, which is a well deserved boost in the long run. Despite all of the positives, the bad news is that it’s hard to deny Amazon is still a bit of a monopoly. Hopefully, they can find a way to break that unspoken shackles and make the most of their burgeoning health care empire.
Reliance Health CEO Ken Oka
In a nutshell, Reliance Health is the latest entrant into the pantheon of healthcare providers in Nigeria. The company offers health services a la carte as well as a bundled offering that bundles telemedicine with medication delivery. At the moment, Reliance has two clinics and two hospitals. They also have plans to expand in the near future. Of course, the swag isn’t restricted to Nigeria. Besides, they have a cool name. Considering they have already acquired a country manager for Egypt, they are likely to expand across the African continent in the not too distant future. So, if you are interested in a sexier edgy alternative to sexy, do not hesitate to contact the good folks at Reliance Health. Their team of health-obsessed health geeks are more than up to the task. They have an enviable list of clients, some of which are notable for their health and wellness programs 52av.