Malaysia-based Healthcare startup, HealthMetrics has raised US$ 5M in a Series A funding round held in September 2020, led by ACA Investments.
Capital raised will be used to expand the startup’s reach across Southeast Asia. Introducing more healthcare segments such as telemedicine, digital wellness, and precautionary programs.
Healthcare Innovation for the market
It was founded in 2015 by Advent Phang and Alvin Yuan. HealthMetrics is a cloud-based employee medical benefit solution that assists HR managers in streamlining and managing the intricacies of employee healthcare plans with its wide-ranging healthcare providers and employee efficiency analytics. It converts the traditional method of manual paperwork connected to employee healthcare plans by automating the entire method.
HealthMetrics’ aim is to provide an easy and affordable solution for businesses to provide immensely important medical benefits to their employees. Its health solution also enables HR managers to give other benefits such as dental or vision care within seconds to their workforces. The startup’s current clientele includes PLCs including insurance companies, medium-sized manufacturers and small businesses. Some of which include PwC, Family Mart, Star Media Group, Taylors Group, Mr DIY, Pullman Hotels, and KLK. The HealthMetrics’ platform is absolutely free to use.
With the intention of supporting companies during this difficult time, HealthMetrics is extending its facilities to both outpatient and inpatient care benefits.
CEO Alvin Yuan was quoted to say, “Our aim was and still is to introduce innovative digital processes to companies for higher efficiency and productivity. Bringing strong new investors and strategic partners into the HealthMetrics family allows us to continue innovating on our successfully proven approach to corporate healthcare.”
It had obtained US$ 50K in non-equity assistance in 2017 from Google Launchpad Accelerator. Further, US$ 1M in a seed funding round held in 2018 from Spiral Ventures, RHL Ventures, and Cradle Seed Ventures. HealthMetrics had also raised US$ 500K in a venture round held in 2019 from RHL Ventures.
About ACA Investments
Singapore-based ACA Investments is one of the leading private equity firms present in Asia. It manages investment funds, with a focus on companies in the growing stage and some specific industries, as well as investment-related services such as mergers and acquisition advisory.
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