Healthtech startup HotDoc raises $5 million Series B round led by Right Click Capital
HotDoc, a platform helping patients book appointments with their doctors online, has raised $5 million in a Series B funding round led by Right Click Capital, with participation from existing backers including AirTree Ventures.
Founded by Dr Ben Hurst in 2012, the startup also helps doctors and medical centres to build loyalty with patients through features such as automated recalls and reminders, allowing patients to check in via mobile, and online processing of repeat prescription requests.
The funding will go towards furthering the startup’s growth; the company reports that it has 9,000 general practitioners (GPs) and 1,500 medical centres on its platform, with seven million appointments booked through HotDoc so far.
The company’s revenues have also grown by 15 times over the last three years.
Dr Hurst said the startup is “privileged” to be supported by “outspokenly ethical investors” in Right Click Capital and AirTree Ventures, firms he said genuinely believe in HotDoc’s mission to deliver the best possible patient experience, and not just growing a business.
“With patients as our first priority, we believe that Patient Engagement has the potential to impact clinical outcomes and keep patients out of hospital,” Dr Hurst said.
“This is a very exciting space. While today it’s about providing online appointments and automated recalls, in the future it will be about digital therapies, individualised health coaching, and collaborative treatment plans.”
Ari Klinger, partner at Right Click Capital, said the firm believes HotDoc is solving a real problem that nearly every Australian can relate to.
“We believe the platform will support healthcare professionals to more effectively engage patients and impact health outcomes for the better. HotDoc is our third healthtech investment in Australia, and we’re very excited to be backing the HotDoc team,” he said.
Among the firm’s other healthtech investments is Clinivid, a platform looking to speed up and streamline communication between healthcare professionals.
The raise follows a period during which perhaps more Australians than ever are considering issues around the privacy of their medical information.
The opt-out period for the government’s digital health record system MyHealthRecord was in August extended for a month, from October 15 to November 15, following concerns around privacy. 20,000 people chose to opt-out on the first day of the window.
HealthEngine, another startup allowing patients to book appointments with doctors, also came under fire in June, with the ABC reporting it had shared user data with law firms seeking clients for personal injury claims.
Image: the HotDoc team. Source: Supplied.