London-based startup Air Doctor, has raised a Series A funding round of $7.8 million from Kamet Ventures – the AXA-backed venture builder – and The Phoenix Insurance Company.
This latest round follows Air Doctor’s seed round of $3.1 million in July 2018.
WHAT THEY DO
Founded in 2016, Air Doctor connects travellers who fall sick abroad with local private physicians who are skilled at treating non-emergency conditions. The free online platform, currently available across 42 countries in five continents, allows patients to tap into a network of doctors that fit their location, language, specialty, and cost needs.
For the travel ecosystem including the insurance industry, credit card companies and mobile operators, Air Doctor offers a digital solution that aims to reduce claim and operational costs while increasing customer loyalty and satisfaction. To date, Air Doctor clients have seen an increase in insurance revenues by 30% and a reduction in claims related to doctors’ visits by 14%.
WHAT IT’S FOR
The new investment will be used to bolster Air Doctor’s medical network, R&D capabilities and for international expansion across the insurance, telecom, and credit card industries.
MARKET SNAPSHOT
In January this year, Air Doctor announced it had added a telehealth offering to its service.
Meanwhile, Singapore-based telehealth startup Doctor Anywhere, which also allows people to connect with doctors from any location in the world, recently raised $27 million to expand its reach, in a Series B funding round.
ON THE RECORD
Jenny Cohen Derfler, CEO and founder of Air Doctor, said: “We live in an age where the customer wants to have the power to choose, order, and receive any service from a tap on a screen. We are excited about this next chapter of growth for Air Doctor as we expand to even more geographies and continue to utilise technology to help people travel more comfortably and safely around the globe. We have the right product and the perfect team to make it happen.”
Dudi Oz, head of travel Insurance at The Phoenix Insurance Company, said: “As their first corporate client, we saw first-hand the impact that Air Doctor’s unique offering had on our business and on our customer satisfaction. We are proud to be backing Air Doctor in this next stage of their growth as they seek to transform the travel insurance market globally.”
Stephane Guinet, CEO of Kamet Ventures, said: “Over the past few years, we have seen consumer personalisation become ubiquitous across many industries. We are proud to continue to be part of Air Doctor’s tremendous growth story as it revolutionises traveller health insurance by delivering highly personalised care while significantly reducing costs for insurance providers.”
